The 2008 NPV was 2.7 Billion (2008 metal prices and cost). If you're using 25% then you obvioulsy expect Teck to back in 75%.

If so, do not value us simply on 25% of 2.7B (old NPV)...

The 75% Teck back in itself has it's own value:

* (25% of the 4x expenditures)

* Upfront financing of the mine.

Then we have the exploration potential value

CUU also have control and Liard shares

CUU has the option to repurchase 50% of teh NSR on teh new claims..

Feasibility Study - Strategy:

The value of a mineral project has two major components, the Net Present Value of the mineral deposit based on a feasibility study and the value related to the potential of finding additional mineralization. Copper Fox identified four aspects of the preliminary feasibility study that would have a direct impact on improving the economics of the Schaft Creek deposit. These are: i) "a higher-grade" starter pit, ii) increased daily milling rate, iii) reduced capital costs, and iv) a realistic resource estimate geared toward maximizing the economic return/benefits of the Schaft Creek deposit over the life of mine.

The above four points are being assessed in the feasibility study currently underway.