Questions re the Deterra Royalties demerger

Hi all,
I am a long term holder of ILU shares. From my reading we will now be receiving 1 Deterra Royalties (DRR) share for every ILU share held and these shares will be able to be traded on the ASX as of 3 November 2020.

Q1: The demerger paper issued by ILU says "Last time and date by which Sale Facility Forms must be received by Iluka Share Registry 2.00pm (AWST) Thursday, 22 October 2020" and "Last date Iluka Shares trade on ASX cum-entitlements under the Demerger is Thursday, 22 October 2020." If I bought ILU shares today (20/10/2020) on the ASX, triple checking that they would qualify as shares that would receive a 1 for 1 DRR share allocation?

Q2: There are currently 422.5 million ordinary ILU shares on issue which I assume will mean there will be 422.5 million DDR shares or have I missed something here?

Q3: The Royalties paid to ILU for 2019 after tax was 54.5 million. DRR plans on issuing 100% of each year after tax royalty payment (minus running costs) as dividends to holders. So if DRR was running as an ASX company in 2019, shareholders would have received a dividend of approximately 12 cents???

Q4: 2020 and onwards, (iron ore price dependant) looks as though area C will be expanding and doubling production, therefore creating greater dividends???

Q5: My biggest and dumbest question of the lot, any ideas what will happen to the ILU share price when DRR lists??? Has the market already factored the demerger in yet???

Thank you all in advance. As you can see, I am just a mum and dad investor and not an expert. It just seems strange that no one is talking about the DRR proposal, as all other royalty companies overseas appear to be kicking ass. Also it seems like a guaranteed dividend.