Determining the FMV of the Laird shares will likely not be easy.
I would assume a Certified Business Valuator (CBV) would use serveral different methods to determine FMV and then use an average to come up with a reasonable FMV "estimation".
The fact that there is no revenues now is irrelevant. It's the same as saying CUU has no revenues, doesn't mean it has no value.
Same with the contracts... the fact they were negotiated 8 years ago doesn't "lock-in" a future FMV for the shares.
Us concerning ourselves with the complexities of the tax consequences of Teck's potential disposition of the Laird shares is likely a waste of time... and probably immaterial, from Teck's perspective.