Copper Fox Metals Inc.

So I put it too you this way: How do we terminate this agreement if Teck does not accept the bankable as you put it? (I've never seen a contract of this type that had no escape clause)

We don't terminate the Agreement, it remains in force until we produce a positive bankable feasibility. We just have to go back and try again.

Or, as Volpino wrote, we could choose to terminate the option with respect to the indirect holding, and not pursue those Liard shares.

Second, what defines bankable?

Bankable is defined by the entire clause 5.5 in the Agreement, including the problematic sentence that gives Teck the right, in its sole discretion, to deem it to be bankable if we only make it positive under 5.5(b)(ii) but not 5.5(b)(i)--as we did.

There has to be a reason that we didn't get the Liard shares transferred right away on delivering the positive feasiiblity.