Its an FFX dividend to existing shareholders not in cash but...

Its an FFX dividend to existing shareholders not in cash but basically represents shares in a new company, LithiumCO. Assuming the project is worth say $400m and a partner coming in for 50% on the basis they will spend $200m on the plant then the dividend is $200m or @25c per share or a dividend yield of 65%.
My belief is that LithiumCO will do a cap raise at the IPO in order to match the agreed drilling program with the partner. This will have nothing to do with the dividend paid by FFX as its a separate company to LithiumCO.