Just spent a little time with Paragraph 5 of the Salazar agreement

I don't think I am interpreting it the same way

I believe it is saying that the smaller project requires the 12% NPV and is subject to the 30 day Teck review

If the larger, para ii, project, satisfies the BFS stipulations at 8% it is not subject to Teck election to be deemed positive

"any report that satisfies 5.5, (b),(ii) will be considered a Positive Bankable Feasibility Study"

In other words, I do not believe that we are subject to a Teck decision for the next step

They owe us the Liard shares upon receipt of the Feasibility Notice

The 30 day review is specific to the 5.5, (b), (i) case

https://docs.google.com/file/d/0B1opssTdj4BuY2FkMmQzMDctNzdiZC00Njg1LTg3YzUtNTY2MzhjODRlMGFl/edit?hl=en_US&authkey=CPLqmtQO