Copper Fox Metals Inc.

The relatively low capex means that Schaft Creek is a lower risk project compared to higher capex projects, even if the economic numbers on both projects are similar. A 10 percent cost overrun on a $6B project is far more painful than a 10 percent cost overrun on a $3B project.

The $3B project also leaves more capital available for the company to invest in other projects compared with the $6B project.

A lower capital investment means a lower risk project. This is one of our strengths.