Successful Inv refreshes Teck Resources buy
Teck Resources Ltd (C:TCK)
Shares Issued 566,889,810
Last Close TCK.B 10/1/2015 $6.09
Thursday October 01 2015 - In the News
The Successful Investor, in the October, 2015, issue, refreshes its buy of Teck Resources Ltd., recently $9.15. The Investor said buy 25 times from September, 1996, to August, 2015, at prices ranging from $10 to $90 (the stock split 2 for 1 in May, 2007). Assuming a $1,000 investment for each of the 25 buys, the $25,000 position is now worth $14,795. In this brief update, the Investor says Teck has agreed to combine its Relincho copper project in Chile with Goldcorp's neighbouring El Morro copper project, in a bid to reduce costs for both companies. They expect to form a 50-50 joint venture by the end of 2015. Building both mines and the related infrastructure will be expensive, at around $3.5-billion (U.S.) (of which Teck's share would be $1.75-billion (U.S.)), but the reserves would last 32 years. The Investor praises Teck's "smart move" and recommends the stock as a buy for long-term gains.
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