Copper Fox Metals Inc.

Their unused line-of-credit is $2B and they are just stating they are using it for Fort Hills. They are also tapping their "free cash flow" going forward during these four years for Fort Hills.

Granted there would be more cash flow, and maybe they won't spend all of that $2B on Fort Hills, but it is a significant investment up until 2017.

They are comparing Fort Hills to a low-quartile copper mine using these figures:

Copper: LME Price $3.25/lb, cash margin $2, Cash costs $1.25, 62% margin

Bitumen: netback $60/bbl, cash margin $35, cash costs $25, 58% margin