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Gold/Mining/Energy : Copper Fox
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biggerbob68
To: louel who wrote (9683)10/28/2015 9:12:20 AM
From: Metacomet1 Recommendation  Read Replies (1) of 10654
 
..well to be sure, if I understood, I probably would have been smart enough not to have lost a million bucks on Copper Fox

..but I did learn that having unjustified faith in the competence of management while reality is blowing something else in your face is simply foolish

..and failure to factor externalities concerning climate change into your plans is, and has been, a gotcha that should have been flashing like a neon light for managers in the commodities business

our CUU idiots lack of recognition of the lack of availability of water to operate a new mine in Arizona is an impairment that will no doubt render those white elephants worthless whatever might be in the ground

similarly taking a multibillion dollar stake in an Alberta oil sands venture, that will in all probability wind up being moose property once again, as the costs to produce the bitumen and the inability to get it to market will strand those assets as well

point is Lindsay the banking whiz can do whatever magic he wants with Tecks balance sheet

the value of the exposure that Teck has to coal and oil sands is as high now as it's ever going to be

ain't nothing they can do to change that as the world is being literally forced off of carbon fuels

..and the improving economics of renewables makes the case that we won't be going back either

bloomberg.com
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