If that is the case, and if CUU wants to maintain the Arizona or some other BC properties, they would have to set up the legal entity (a new company) and have the new company acquire those properties before the buyout and issue CUU2 shares to existing CUU shareholders.

This is done according to recent reports. Arizona is technically already held in a shell companies.

The market cap of CUU2 will not necessarily be $40M; it will be whatever the market think it's worth, given the assets it owns.

I didn't mean to use Market Cap (didn't proof read), but meant to say there would be 40M outstanding shares - but ya, we'd trade at whatever the market thinks we're worth (which is nothing depending on how much we retain - but the hype from a previous success, management and financing abilities may be there).

CUU2 would not have any cash from the transaction in the above scenario because the cash would go to CUU shareholders when Teck buys them out; not to the company (either CUU or CUU2). If CUU2 wants cash, it would have to raise it.

Pretty sure it doesn't have to all be given out as a dividend since we would also be recieving shares in CUU2. We would trade at, at least cash value and could sell those shares if we didn't want to continue after a liquidity event (essentially being the same as if we got it all as a dividend).