Copper Fox Metals Inc.

While it is true we don't have to find financing until our $20M contributions have run out, technically we are paying our share.

We do not have to find financing, TECK will arrange it for us. The point I was trying to make is that if someone were to buy CUU share of SC and take over the JV agreement, they do not have to pay a single penny once they buy us out; just wait for the checks to come in after production starts.

Their part of the costs will be paid from the 90% of the net cash flow every year that goes toward debt payment (in this order: financing, TECK own money and TECK's loan to CUU at prime +2%). While this debt is paid, CUU or whoever buys us will receive 2.5% of the net cash flow every year, with that amount increasing to 25% of the net cash flow after the debt is paid in full.

Maybe we can agree on this :)