"Upon completion of the feasibility Study Copper Fox will have a 100% working interest in Schaft Creek and an overall 93.4% interest. The remaining 6.6% interest is held as a Net Profits Interest by Liard Copper Mines Ltd. We calculate this NPI does not participate in the project revenue until years 10/11 after production. Thus, should Teck elect for a 75% earn back, then for the first 10 years revenue is split 75%/25% between Teck and Copper Fox and subsequently 70.5 Teck and 23.35% Copper Fox."

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