Very interesting NR out of Teck right now. They just released an alert that China's CIC (which owns 17% of Teck) is interested in investing in Canada's resource and infrastructure sectors. It doesn't hint at a CUU investment outright. But it is sure positive considering CUU circumstances. Could CIC come in and work to develop Galore and Schaft concurrently?
Cross your fingers this is a heads up to the Federal government that Teck & CIC are ready to dump some big cash in Canada... very soon... and very "quickly"
Teck Resources Ltd (TCK.B:TSX) - News Alert
China's CIC keen on Canada's resource sector -paper
SHANGHAI, Oct 19 (Reuters) - China's sovereign wealth fund China
Investment Corp is interested in investing in Canada's resource and
infrastructure sectors, a company executive told the official China
Securities Journal. China's outbound investments have grown
steadily since the 2007-2008 financial crisis, with most deals
targeting resource-rich regions as the world's second-largest
economy fuels growth. CIC's Toronto Chief Representative Felix
Chee told the paper that CIC was most keen in Canada's resource
industry as the country has abundant mineral and petroleum
resources. The investment company is interested in infrastructure
projects as those are related to resource extraction and will help
CIC retain a stable return on investment. "Investment needs to be
carried out at the right time, at the right price for the right
asset," Chee said. Other areas of interest include manufacturing,
technology and real estate, Chee said, adding that CIC prefers to
find its own investment opportunities and invest early and quickly.
CIC has a stake in an oil sands project with Canada's Penn West
Petroleum Ltd. In 2009, CIC took a 17 percent stake in Teck
Resources for C$1.74 billion ($1.77 billion). For factbox on
Chinese investments in Canada's oil and gas sector.
TCK.B at 4:15PM ET on October 18, 2012 is:
Last: $32.05 CAD
Change: +0.61
Volume: 2,627,736
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