If Copper Fox doesn't want to shop around for our 25% because of ROFO, what's stopping them from selling the 1.55% direct interest in Liard?

Today, based on a very conservative PEA, 1.55% would provide $35.8M US in revenues for the initial 21 years.  With metal prices increasing, on-going improvements and future expansions, this number will only go up!  Seems like a perfect investment for any royalty company no?

The Schaft Creek JV has an obligation to Liard in the form of a 30% Net Proceeds Interest in certain mineral claims within the Schaft Creek Project (the “Indirect Interest”). Liard is owned 85.5% by the Schaft Creek JV, 1.55% by Copper Fox, with the remaining 12.95% held by third parties. Based on the PEA, the LOM NPI payments to Copper Fox stemming from this Indirect Interest is US$35.8 million and US$298.9 to the other Liard minority interests.

Royal Gold paid roughly $165M US ($215 CA) for about $240M CA of future cash flows based on the latest Red Chris PFS.  That's roughly 90% of the amount.

Compared to Red Chris, we are not in production, but why not still try to sell our $35.8M US today for maybe 50%-60% of the value?  

1) This would give Copper Fox a great opportunity to confirm market interest in SC and help to determine a fair value when it will be time to approach Teck.

2) This could provide funds to advance other projects faster.

3) They could also issue a dividend.  At these levels, I will gladly buy more shares and support the SP if they can't get institutions or investors on board.  That small dividend could yield much higher returns if paid today and converted in CUU shares.

IMO.

MoneyK