It's good negotiating for your shareholders that you are playing your cards close to the vest and have a great relationship with CUU management, but be mindful of the following possible scenario:

"If I'm Mr. Biggie and can swallow you whole, I might like to put in a very shareholder friendly offer subject to DD for a Company that has already great but improving multiple resources in a stable jurisdiction with a mine life of 80+ years because I'm seeing declining mine productivity in my other world-wide holdings and the excellent possibility of continued rising demand for my products over the next decades. I don't mind assuming Copper Fox's obligations under the Back-in Agreement because I don't think you'll like the value I will put on those properties that have to be offered under the Agreement, and I sure won't be offering those properties which are excluded (which now far exceeds the Schaft deposit in hectares). I won't mind you as a 75% partner because of the $300 million or so you'll have to spend over the next 4 years to earn back your share or the 100% financing of the mine construction you'll have to arrange but I'm not sure about the price I'm going to to charge our new joint venture for the Mess Creek road access property and I hope that won't take forever to negotiate that in case we start to run up against your 4 year time window for earning your 75% interest and you lose it.

And since I will have access to the draft BFS info during my DD phase, I might decide that it should be released immediately after I close my deal, because all it has to do is show 1.00 positive for you to lose your control of the Liard shares and of course start the negotiations with you as to how things will go and what you might be up against if you decide to back-in.

Now I know you are looking at CUU as your starter mine for this whole area since it will one of the first customers for the new power line, but it seems to me this area is big enough for both of us and you will eventually get access and power to your newly-staked claims since CUU is the furthest along in its approval process.

Judging from the shareholder component, I think a reasonable offer would be quickly accepted so I can't wait to see the revised resource estimate in the next few weeks to confirm what our company geology experts already suspect about this whole area. And of course I haven't missed an opportunity to visit CUU at the trade shows and keep up to date. My only concern is that Mr. Harper might not like a foreign take-over of a strategic Canadian asset but I think I can successfully structure that with my other partners because - "Northern BC is the New Place to Be" (courtesy of my marketing department)."

I dunno ... could happen??