RE: Liard shares only on loan from Teck?? When the BFS is presented to TCK under the terms of the contract CUU has earned TCKs holdjng in Liard, 78%. when TCK backs in they get the same percentage of the Liard shares they back in for. eg. if it's 75% they get back 78x75%= 58.5% which leaves CUU with the remaining 19.5 % + the 1.9% they already own for a total of 21.4% of the Liard copper holding. the value of this asset over the decades this property will be mined is enormous. it's all just simple arithmatic.....chunky