The way I see this spin-out of Metal Mines is that your original ISM shares will still access the 10pct holding of Metal Mines, only in an indirect way,as it is now. The new Metal Mine shares you may get will hold the other 90pct in a direct way. The only difference is that ISM mgt will vote that 10pct of Metal Mines as they see fit. Still I don't see why anyone would hold this stock until the terms are finalized. Spinning off Metal Mines is like telling a teenage kid to leave home. Do you give the kid some upfront cash? And how much? Does ISM get to keep all the cash? And as Van alluded to before, does Metal Mines go private? I doubt it but if it did I would rather just own ISM. The only thing worse than owing an illiquid penny stock is a penny stock that doesn't trade at all. That's why it would be nice (but unexpected) to see the final terms of this spin-out. Not much time is left to make a wise decision unless that's the plan.