Re: Don Lindsay on BNN Friday at 5:30 PM Eastern
posted on
Mar 23, 2015 01:34PM
I'm like everyone else and have no idea what is driving this rally. Teck saying that they are interested in possibly acquiring a producing copper miner and possibly cutting their dividend is proof that they believe the price of copper is going up in the near future. Their stock price will take a bit of a hit if they are the Aquirer of a copper miner AND if they sacrifice the dividend to do so, their stock price will take a further hit so I'm sure they are considering this and "testing" the markets reaction. If the reaction isn't a severe backlash they may have a better idea of how an acquisition of an already existing mine that they already have a 75% stake in would be perceived. It's funny that the stock price of CUU continues forward in conjunction with Teck.