Yes, if CUU 2.0 exists, it will likely have the Arizona lands which come with the water issue. If CUU 2.0 just held the Arizona properties as we (don't) know them now, then that might not be that interesting.

Cuu 2.0 may well have the remainder of the SC Mineralized Trend and whatever zones that aren't sold to Teck or company Y. CUU 2.0 would also be cashed up and able to venture into other juicy areas if it chose.