posted on
Sep 16, 2012 09:42PM
I never really understood this sentiment of not seeing the BFS. How can they possibly withhold it when they've clearly made it so that their main material info, and one of the biggest reasons to hold this is for the coming BFS that they've been working on, for over a year now. How can they possibly expect us to make a vote (whether it matters or not) on information that's withheld? That is, how can we accept a buyout of ANY value if we don't know the economics, of what we're truly worth? The only thing we know, is that we're worth more than what we're currently trading. How is it that they can justify a buyout to their own shareholders without revealing this information? It can't be done. Whether its, $3 or $7, or anywhere in between - we won't know, nor will Teck shareholders know if we got fair value, or something close to fair value. The BFS will be released. We may be bought out at the same time (though I think it's more likely it will happen sometime shortly after). We will see it. Especially at this stage in the game, where it's due in 2 weeks. You can't pull a story like you might have been able to before, where it wasn't done or we didn't have key values and figures - but we think that the buyout is worth it. No, we're too far along for them to try to conceal it.
My guess is that the 100% lands are too expensive. They'll back in for 75, buy the remaining 25% of everything they've backed in for + a premium. I would guess that, they'd then go and do a JV with someone else and they may purchase our 100% lands with the information we have from the imaging, Mira etc.