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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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we drop the FS and get the 78% Liard holding, they back in for 75% they get back 58.5% of the Liard shares, leaving CUU with 19.5% plus the 1.6% we already own for a total of 21.1%

Sorry for the confusion, tonic1. the above calculation is our share of the liard 30%

30%x 21.1%= 6.33% of the mine.

70%x 25% = 17.5% our share of the mine less the liard holding.

17.5 + 6.33 = 23.8 I haven't made an allowance for royal gold's 3.5% net smelter return, but I assume that would reduce us to 23.35% of the mine.

the main point I wanted to make was tck gets back the same percentage of the indirect holding, the 78% liard shares, as they back in for.....chunky

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