Rinky,

You don't get it.

Forget dividends. The game does NOT work that way. There are ONLY two real options.

Option 1: Lori spins off Tesoro, we each get a Tesoro share and a residual share. The buyer is prepared to pay say $500/share so you have the option to keep or sell your shares to the buyer. If you hold you get the intrinsic value of the share at the current market (it may go up or down) and hopefully your dividend when the mine goes into production if teh company is prepared to declare dividends, plus you keep a share of the residual propoerty and see what proves out.

Option 2: Lori is prepared to sell lock stack and barrel including all ancilliary properties. Value is higher and buyer is prepared to pay say $600 /share. You can sell your shares to the buyer or again hold for a dividend IF the buy is perpared to declare many years down the road.

Either is fine but don't expect a dividend froman exploration company....