This statement about the Kettle River, perhaps now called the Carmi Moly Project, is very interesting, see bolded below.

Benefits: The Property has tremendous potential to contain significant moly reserves,

however, to prove up reserves and to bring the Property into production would take

a substantial amount of money. St. Elias stands to benefit greatly from any

development or sale of the Property while mitigating its risks and dilution. With

this deal, St. Elias receives cash and shares resulting in a current equity interest of

approximately 20% in Hi Ho. In addition, St. Elias will be granted a cash sum if Hi

Ho sells the Property, pro rata to their equity in Hi Ho at the time of the transaction.

In the event the Property goes into production, St. Elias will receive regular

payments from the 1.5% NSR. The further the Property advances, the larger the

benefit for St. Elias (with no cost or risk to St. Elias.)