From the previous agreement.

"Teck Cominco, if it elects to back in for 75% of Copper Fox’s earned or deemed interest, must use its best efforts to arrange a minimum of 60% of project development costs in the form of debt and if it cannot, but elects to put the project into production, must provide Copper Fox’s 25% share of such costs as a subordinated loan recoverable preferentially from Copper Fox’s share of cash generation"

Does this mean that if Teck would have been able to arrange financing for at least 60% of the cost, Copper Fox would have needed to finance it's 25% of the remaining?

How can an explorer get these kinds of funds without dilution?  We must be talking about 300M-400M here.

MoneyK