There is a short piece on Seeking Alpha that recommends Teck as a buy:

Top Picks For Canadian Investors: Teck Resources And Thomson Reuters

http://seekingalpha.com/article/310207-top-picks-for-canadian-investors-teck-resources-and-thomson-reuters

Within that article is a link to GMO's letter on Europe. That letter attempts to outline in mathematical terms the risk from Europe:

"The Conclusions
1. In a world of low growth, it would take a miracle for Greece to escape without negotiating a large cut in the principal of its debt;
2. It is, however, credible that defaults can be limited to a few small countries, and perhaps only to Greece, while the rest can string things along until a somewhat more normal global economic growth pattern resumes later this decade;
3. The probable need to recapitalize commercial banks to cover defaults casts a long shadow on the process; and,
4. The eurozone is likely to need more resources than it has gathered so far, with the European Central Bank (ECB) printing more money probably the easiest way to find those resources. In other words, the arithmetic of Europe’s sovereign debt crisis is daunting, but not insuperable.

The Eurozone Debt Crises is causing rapid political change in Europe. Just this weekend Belgium struck a budget deal that followed 18 months of arguments because S&P downgraded them on Friday and they didn't want the markets to open without a deal. In Italy and Greece, 27% of their economies are black market and don't pay taxes. Now they are going to try and go after that money. They are saying Germany has to pay. Although Germany is refusing there are growing rumours that EU will have to print more money and do some QE of their own.

This mess though doesn't seem to have bothered the M&A that has been going on, take Hathor as an example. The BRIC countries are doing okay. China has created something of a mess in their country because they were trying to crack down on private lending. Apparently everyone and their brother make money by lending to their neighbours at a high rate and it was getting out of hand. They can reverse some of the measures they are taking to slow this down and increase lending and purchasing in their economy.

We're almost in December. Soon I guess they'll make some announcement if it is to be delayed or is on time. I will be quite disappointed at a delay but if that happens I hope they also put the silver back in or something positive.

I am hoping we get out of this soon and then we can re-evaluate with the assumption that Europe is going to be a mess for awhile. It will be a good opportunity then and we can only wish for a severe downtrend like in 2008.