Vette,

I am sorry but I just don't understand what you are saying about "control." Here's how I understand the arrangement. Please tell me where you think I have gone wrong.

CUU currently has a 70% "Participating Interest." I thought that this gave CUU the right to the working interest for a mine subject to the 30% carried interest held by Laird. I don't understand CUU to need the Laird interest in order to contruct and operate a mine. Under Section 6.3 of the Salazar agreement, I understood that CUU can terminate the option to acquire the Laird interests held by Teck and move forward without Teck (subject to the carried interests). (Teck can then also elect a 1% NSR or a $1M worth of CUU shares).

Sorry, I just don't know what control you are talking about. Control of some sort of reversionary interest? I haven't seem the underlying documents and maybe you have.

Also, if Teck is worried about this, I think that all they have to do is say is that the positive feasible study was not "bankable" which I believe they can do because we didn't demontrate NPV at 12%. If they do that, they keep the Laird interest and maintain the status quo. Of course, we are after the time that they supposedly had to decide if the study was bankable and we know nothing about what happened. (I am going to guess that CUU granted them an extention in which to decide but that is pure spectulation.)

Regards,

Volpino