tyke - I think that number came from Coxe, but I can't find it now, so I don't know if it was in US or CDN dollars. Given the shares outstanding for Teck, that's a lot of cash. There is a good possibility that at least some of it will be spun back to shareholders. I would also not be surprised to see Teck make further oil sands investments. They said, at the time of the Fort Hill project buy-in, that it was the first of what was intended to be a portfolio of projects. It was interesting to see that in his most recent piece at 321Gold, that Harry Schultz is adding here:
"As we go to press, gold is testing its 50% retracement level. I am doing some selective buying here in the strongest relative strength gold stocks (like AEM, AAUK, AU, GAM-T, & especially: TEK-T, VYE-T, & YRI-T)."
I have never considered Teck a gold stock, as it accounts for only 3% of their revenue (http://www.teckcominco.com/presentations/dl-bearstrns-08dec05.pdf). |
