We own them, so why the hurry when the market is in the toilet?

I think they did the Titan on Sombrero Butte to decide whether to keep the property and pay the $137K, or whatever it is, this October. If there hadn't been anything in the survey to encourage them then I think they were planning on dropping the property because it was just an add-on to the VD acquisition.

The NR stated they have enough money for expenses for another year. OK, so we've got just enough time to get the optimizations and try and sell SC. Failing that, we also can put VD up for sale although in this market things are starting to look really bleak.

Failing a sale, I would assume they will go for the spinoff to raise funds. So far it has been years since they've handed out options or gone for funding. I take that as an indication that is how they mean to proceed.