Re: Teck Announces Dividend and Buyback
in response to
by
posted on
Nov 17, 2017 08:05PM
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%)
I don't see any connection between these expenditures and SC. Any project with good economics and long life moves to the top of the capital funding list. Based on the JV terms and estimated $/lb CUeq spent by Teck on two recent acquisitions, I don't think it will cost Teck anywhere near $ 280 million to buy out our 25%. Both EE and Elmer can feel free to prove me wrong and demonstrate they had some grand plan all along that explains what happened. I've positioned my average share price accordingly for any deal although I prefer it happens during my lifetime.