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Gold/Mining/Energy : Copper Fox
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To: Zep70 who wrote (8987)1/2/2015 5:11:59 PM
From: mudguy  Read Replies (1) of 10654
 
I think you have asked that question before. Teck is too risk adverse to mine the really rich properties in less stable jurisdictions, and they are not in the top tier of majors competing for the coveted properties anyway. That is what happens when you are protected by a dual class share structure and controlled by a family (however astute they might have been with past dealings).

The property is probably mineable and they can hold it indefinitely for a $24M outlay. They could hold it for 50 years for a pittance. They now have the luxury of doing it when they please. What is material to you as a shareholder is that at the rate CUU is burning their capital, they won't exist in a few years and Teck will own the whole darn thing.

This is like watching a slow motion train wreck. The resolution just won't come, but it is getting closer. When the company goes looking for money, they will be turning a page with the previous cohort of shareholders.
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