"excuse my ignorance, but if teck does back in for the 75% and does not buy us out - do the shares get divided up 75/25 or do the 380 millions shares now become 25% of the copper fox/teck ownership....."

The back-in applies to the SC property only; it has nothing to do with the CUU shares or CUU the company. If TCK back-in for 75% and does not buy CUU out, CUU shareholders will still be holding CUU shares just like before the back-in; they will not be receiving any TCK dividend because they are not TCK shareholders. The only thing CUU and TCK has in common is TCK owns 75% and CUU 25% of the SC mine (to put it in an oversimplified way.) JMO GLTA!