follow the money

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

hkahka

Rank: Treasurer [?]

Points: 325 [?]

Votes: 26 Score: 3.9 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

follow the money

posted on Dec 01, 2011 09:09AM

good morning everyone especially fellow s/h refugees- first post on this site.

it's interesting that rio tinto announced today that they were investing a total of $3.3 billion overall into the upgrade of their aluminum KITIMAT location in northern bc. this being done in spite of all the uncertainty in europe/slowdown in china etc. etc. etc.

what is interesting is their timing of this major expenditure is occuring when the price of aluminum has dropped from 2008 $1.27/lb to current $.90/lb. rio is selling off a bunch of other interests in different locales of the world in favor of NORTHERN BC at this time.

why would the world's 2nd largest miner being taking these actions at this volatile period? shouldn't they be hoarding cash? especially with all the uncertainty around and the low commodity prices?

if rio is taking this kind of a stance and talking with their actions, could there be some other majors/sovereign wealth funds that see it the same way as rio and want to invest in opportunies like schaft? how does one think teck feels about the potential competition for our 25% share?