Re: Teck slashes dividend...
in response to
by
posted on
Apr 21, 2015 09:01PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
Does not make sense for Teck to buy a producing mine,that mine would not be profitable at these copper prices it's the only reason it would be up for sale...
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I think that is the point - buy a bargain property that isn't surviving at these prices. Be the vulture.
When the supply tightens and prices spike they are in a great position to ramp up copper production very quickly.
Prices have been low for a long time, when the economy turns shortages could appear quickly and there may be some opportunity there for companies with capacity available?