Lltea, Seeing how we are speculating on a spinco, I agree with your scenario on something like 1 new share for 5 or even 10. I also see Teck taking a stake and even contributing say 10 million or so to start the new spinco. They could establish a share price if Teck further subscribed to new shares of the spinco , for example, 10 cents or 50 cents.

I had Copper canyon and when NG took them over they left a few million in the spinco.

R