Copper Fox Metals Inc.

That invalidates all of our assumptions that this project has any market value whatsoever

If we assume that Teck has elected some percentage, based on a confirmation of our BFS, both the published and the known, then I think it is fair to assume the property might appeal to other majors

We will retain some percentage on any Teck action whatsoever, even if that action is a pass

Whatever we get to keep is what we will have to sell

If we think Tecks comes in for the full 75%, without a buyout, we will be in a very low burn situation, and have the earned 25% of the project to sell

Ernesto will just need to cover salaries, and Teck will under the JV terms, be firming up the economics of the mine out of that 360 million they need to spend to earn their interest

Wonder how long we would be unable to find a buyer for that interest in this environment?

Elmer seems to think there wouild be takers....