In my opinion, with their commitments to Fort Hills and China adding import tarrifs on coal imports they are not going to want to extend themselves.

The FP said that the fear over the new tariffs is overblown. Teck, they say, would have decreased earnings of 2.4% per share and $19 million per annum in decreased cash flow for 2015. This works out to US$83 cents a tonne, vs their overal price of US$111.

The problem is that Teck has to look a decade or more into the future and take action now. We know they believe 2017/18 is going to be good for copper.

They have cash in the bank and that can work against them when you look at return on investment. If they don't put that money to use their ROI is going to suffer in the long term.

They must be concerned about their share price, but they are in the business of mining. They have to build their business not pull their heads in and do nothing.

It just seems logical that even if they want to hold off on a production decision they should move forward with the EA, FN committment, possibly improved FS, finding a partner. They have so little money into this if they could find a paying partner the cost per pound of copper is still so low.

I disagree about financing and consolidation because there is a substantial tax refund owing, and there is the option to spinoff and then finance.

http://business.financialpost.com/2014/10/10/teck-resources-will-face-limited-impact-from-coal-tariff/