"Teck's rebuilding effort included selling a 17 percent equity stake to state-owned China Investment Corp for $1.5 billion, reflecting a growing trend among Canadian companies of turning to Asia as a source of capital.
Such deals, typically sales of minority equity stakes and often including a long-term supply deal, are expected to increase in frequency and in the size of companies involved.
"I think China is still looking to secure resources, and they certainly have a lot of foreign exchange reserves they want to deploy and one way to do that is to buy a copper mine," said David Whetham, a resource fund manager at Scotia Capital."
With the Ven exchange rate now 'friendlier', adding to growing list of reasons why China looks better and better as being THE source of the capital for KRY........ Being reminded of the above underlined, I can't think of anything more that China ( or Chinese money )could be waiting for.
Unless it's the Listing of Siver Dragon INC., on the TSX, that our Mr. Fung is working on. In an indirect way, that would help the Chinese Government, who own 30% of Siver Dragons Chinese subsiduary.
P
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