Teck just spent $2.47M to attain a greater ownership of a COPPER EXPLORER. Teck is very interested in exploring for more Copper. This is a clear indication of their desire to find properties with development potential. Interesting that they have put QB2 on hold and have been dragging out Relincho's FS. Yet spending money on Schaft Creek exploration and AQM Copper exploration.
Teck Resources Ltd (TCK.B:TSX) - News Alert
Teck Announces Subscription to AQM Copper Share Placement
Teck Resources Limited (TSX: TCK.A, TCK.B, NYSE: TCK) ("Teck") announced today that it has subscribed for and acquired an additional 22,454,545 common shares of AQM Copper Inc. (TSX VENTURE:AQM) ("AQM"), at a cost of $0.11 per common share, as part of a broader private placement of 33,477,727 common shares conducted by AQM.
As a result of today's subscription, Teck and its subsidiaries hold 27,704,545 common shares of AQM, representing approximately 19.9% of AQM's outstanding common shares. The subscription was made for investment purposes. Teck may otherwise determine to increase or decrease its investment in AQM depending on market conditions and any other relevant factors.
AQM is a mining exploration and development company with projects in South America.
This release is required to be issued under the early warning requirements of applicable securities laws. A copy of Teck's early warning report relating to this subscription can be obtained from the investor contact below.
About Teck
Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, steelmaking coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. Further information about Teck can be found at: www.teck.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media Contact:
Chris Stannell
Senior Communications Specialist
604.699.4368
chris.stannell@teck.com
Investor Contact: Greg Waller Vice President, Investor Relations and Strategic Analysis 604.699.4014 greg.waller@teck.com www.teck.com
SOURCE: Teck Resources Limited
