best news in months ???
ost/wire say Teck mulls asset monetizationTeck Resources Ltd (C:TCK)
Shares Issued 566,889,810
Last Close TCK.B 12/2/2015 $5.24
Thursday December 03 2015 - In the News
The Financial Post reports in its Thursday edition that Teck Resources ($5.24) says that if conditions worsen it could consider capitalizing assets worth up to $1-billion. A Reuters dispatch to the Post quotes Teck officials as telling a mining conference on Wednesday that it has adequate liquidity and does not need to pursue any asset sales or "streaming" deals, in which mining finance companies provide upfront funds in exchange for a portion of future mine production. However, in response to an audience question, chief financial officer Ron Millos said infrastructure funds could potentially be interested in Teck's share of assets such as the Wintering Hills wind turbines, the Waneta dam, Neptune Terminals and water treatment plants at Elk Valley. Teck could also consider selling projects that it is not developing due to current low metals prices, such as the San Nicolas copper project. "All of that, all in, could we raise a billion dollars?" Mr. Millos said. "Maybe, maybe not." Teck, which agreed in October to sell future silver production from a mine in Peru, said it could consider smaller streaming deals for silver from its Red Dog zinc mine and silver and gold from its Highland Valley copper operations.
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