Might be pushing it a little here, but imagine if...

Copper Fox sells VD out of the blues and distributes (e.g) a $0.50 dividend.  That would provide shareholders a boat load of cash to buy more cheap shares before they sell another asset (e.g Schaft Creek) a couple of months later.

On the Teck side, they could have slowly & quietly accumulated 9.99% of the Copper Fox float over the years for maybe 5M.  That investment would give them back around 25M with the Van Dyke Sale.  At the same time, they could be buying back 40M of their own shares with an average of (e.g. 25$).  Once their SP reaches book value (e.g. $30), they would buy Schaft Creek at fair value with "these" shares, which would somewhat provide them a 15% discount on Schaft Creek + they would get back 9.99% of their own shares, therefore ending up with a 25% discount on the fair value for Schaft Creek.

Anyways, I might of had too many drinks tonight!

MoneyK