Re: Teck takes massive write-down

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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%)

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Prospekt

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Re: Teck takes massive write-down

in response to

Re: Teck takes massive write-down

3putt1

posted on Oct 22, 2015 01:05PM

TCK/B is currently up 5 1/2% on the day. This is one sign of reaching a bottom, negatie news but the share price moves up.

I'm hearing it was very bullish news. For some reason I can't understand they have protected themselves from a covenant breach for a while because they did a write-down on coal. That keeps them cozy until the Fall of 2016—apparently. Coal, being their biggest asset had the ability to pull down the house of cards. Now they are secure from tripping a debt repayment (I think that's what it was about) they can proceed.

We may not get a buyout at this point in time becaues the market is horrendous, but they can submit the EA and get that going before any other things go wrong.