Just to be clear

This means that as of today, Copper Fox owns outright 94% of the potential proceeds of the eventual Schaft Creek mine, 6% being reserved as indirect, historic Liard interests

This by virtue of having incurred $15,000,000 in exploration expenditures prior to Jan 1, 2012, and having completed (though not delivering) a positive BFS per 5.5.b.ii of Salazar

...and that upon delivery of the BFS (whatever that means) Teck must legally convey both their 70% Direct interest and their 23.4% Indirect Liard interest

(The additional .6% having been acquired by CUU's purchasing Liard shares outside the Teck Agreement)

So what CUU may now vend, (subject to a retained Teck ROFR, expiring 120 days after BFS delivery) is at a minimum their interest after Teck's potential max 75% backin, or 23.5% of the future proceeds of the eventual Schaft Creek mine

At a 40% backin, this would be 56.4%; @ 20% backin, 75.2%; and the whole 94% if Teck walks

This is where we are as of today

These interests are not subject to any additional steps under the controlling agreement

These are the earned values and ratios CUU owns in those header metal values above, and those can only increase significantly

I guess the point of this post is to drive home the points that as maddening as all of this is, we have pereformed under the controlling agreement...and it is not a good idea to sell at current market prices if you have the option not to