The last one of these spin offs I participated in was very profitable. Eagle Plains (epl) spun off the new company Copper Canyon (cpy). I sold cpy the day it opened and epl sometime later. I know epl provided working capital to cpy and the top management remained the same. Of course both co's have had problems since Novagold opted out of building the Galore creek mine. Hope this helps. Follow the trail on this to get the full story.