Here is my WAG (wild ass guess):

I believe the company, Copper Fox, will remain intact after Teck pays for Schaft Creek and the lands subject to the back-in agreement. CUU will subsequently issue a "special dividend" to shareholders but will still hold the land that is not included in the back-in agreement. Ernesto will continue to be a majority shareholder and will be handsomely rewarded via the special dividend. CUU will continue to do what they do best (i.e. exploration) and will finally do what web has been asking them to do for years. That is, poke some holes further south. Perhaps their preference was to wait to drill to the south as a way to create a catalyst for the new CUU.

It will be difficult to determine a fair value for CUU sans Schaft Creek. They will do a reverse split to reduce the shares outstanding and the float will be even more minimal. The share price will be impacted by less volume and thus, if investors want a sizeable chunk of the company, they will struggle greatly to limit their market impact costs.

Well, that is my guess!