What is not in harmony with the old agreement is Teck’s commitment to take the project to production if it chose the 75% option.

The old agreement didn't dictate that Teck had to take the project to production. It specifically stated that it was entirely up to Teck to decide whether or not to put the project into production at any earn-back percentage.

Another change is that if Teck doesn't make a program with a budget of at least $500K per year, Copper Fox can do so and then Teck has to either contribute or dilute ownership share by the amount they don't pay. The old agreement required $250K (from memory.)

The Liard shares are a Net Profit Interests and I think they don't come into effect until about year 8-10. Up until that point it is a straight 75/25 split--I think.