That last "lost bid" news just made me re-read the very interesting answer from Don L. from his last Q2 Phone call...
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We saw opportunities we will be interested in. An exploration worldwide generally hasn’t been that successful. And where there are discoveries, one thing we have learned as an industry is that at least 10, 12 years, probably 15 before there would be any production from those discoveries – to those discoveries. And so if you are looking to grow near the medium-term production and cash flow, there is very, very little out there.)---/-///-----
--->As he mentioned ....VERY VERY litte chance to grow near the medium term... and yet... they just losted their only bid war attemp on a 50% ownnership... which I was kind of expecting.. Teck didn't seemed to be in the Best "war position" at this particular time to beat his hungry opponents with his current situation.
But I particulary like his first part of the answer.. (we saw
opportunity WE WILL BE INTERRESTED IN...Exploration World wide HASN'T BEEN THAT SUCCESFUL...at least 10,12 probably 15 YEARS BEFORE THERE WOULD BE PRODUCTION FROM THOSE DISCOVERIES...)
If he's not describing CUU right there...I Really wonder what he is refering to...?!? I also find interresting that in the last news that I read regarding the final stage of the bidding war... Antofagasta wasn't even mentioned.
http://www.bloomberg.com/news/articles/2015-07-08/barrick-s-zaldivar-copper-mine-draws-final-bids-from-bhp-hudbay
(maybe in some other news reports tho..) But it makes me wonder how many other unknowned companies craving for a 50% assets were involved in that bid..?
How easy it would now be for TECK to turn back and ask the other loosers too jump in a very good 25% in CUU if they can't affoard EE's price... Wake up Don... You said it yourself... All the other good assets had been taken 5-10 years ago... so just FOCUS ON YOURS and Make it done already for F*~ sakes!!!!!