The Capex is 3.2 billion – 2.4 billion to Teck and 800 million to Copper Fox. Arranging financing does not mean that Copper Fox gets it for free.Copper Fox must pay for its 25% of the Capex from its portion of cash flow.

I never said Copper Fox gets it for free. Copper Fox does pay for it and it shows in the cashflow calculations.

If Copper Fox had to arrange the 800 million on their own, do you think that they could get it and if they could, what would be the interest rate! Obviously, with Teck arranging Copper Fox’s portion, the cost of getting the capital will be lower.That is an advantage to Copper Fox (or any acquirer of Copper Fox’s interest), but in the overall scheme of things it is not a major advantage.

How is that not a major advantage? Copper fox (or acquirer of interest) does not have to worry about capex as it'll be under Teck as operator to bring it into production. Teck will take care of financing for CUU's interest as well. What happened to Baja? They miscalculated on costs and look what happened. Maybe not to you but having someone arranging financing for you is pretty damn good. Imagine building a house and say your parents (as example) said they will arrange building it for you, and you'll can pay them back through the rental income over the first 5 years. Sounds pretty good to me.