Some things are getting mixed up.

First, the Agreement sets out minimum copper metal production per year. Folks are confusing things with bulk ore production per day. (i.e. 150K tonnes per day).

The Agreement gives out a mininim amount of copper metal production for the FS to consider in the NPV calcs (5 b(i) is 25k tonnes per ANNUM, 5b(ii) 50k tonnes per ANNUM. The mine life is also a minimum. Exceeding the minimums isn't any reason to assume that we can play with the other paramaters of the Agreement without sitting down with Teck. We'll be producing between 232 and 274 MILLIION pounds per annum.

Second, per Agreement: ..."lf Teck Cominco does not give any notice as aforesaid, then any report that satisfies §5.5(b)(ii) will be considered a Positive Bankable Feasibility Study." As far as we know, Teck hasn't given any notice on the 'aforesaid' (all the above in section 5.5). We satisfied §5.5(b)(ii). Therefore, the FS should be considered "a Positive Bankable Feasibility Study".

The annoying "30 days" issue comes out of §5.5(b)(i) and the paragraph below §5.5(b)(ii). Since there is no reason to think that we were $1 NPV(12%), the 30 days should not apply. I don't know why management and Jason let the 30 days creep into the discussion at all - unless there was a "notice" from Teck that we don't know about.

I'm inclined think that there is a 30 days since Jason said so in writting about a week ago - after the folks at the VRIC reported there discussions with management and a big 'no' to the 30 days. Where would Jason have got this from? I dont' think he made it up. Maybe the flu fuzzed his thinking on the subject but he seemed quite clear on his pronouncement. Now management appears to have clammed up on the subject all together AND we don't have any word on our Liard Shares.