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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Someone else offering an opinion...

I found a mistake. Royal Gold owns 3.5% of the NPI of SC overall, not just the Liard shares.

So that reduces the one figure,

25% of the non-Liard ownership of SC (so 25% of 66.5%) = 16.625%

25% of the 78% ownership of Liard's 30% = 5.85%

1.47% of Liard that we own outright = 1.47%

Total SC profits post-payback = 23.945%

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