Hi All keen to know some opinions/ thoughts on my ivestigation. Their has been numerous mentions of Teck making some enquiries into MNC and takeover rumours. SO I looked at all their announcements over the past year and came across a webinar off their website dated 15/5/2012- Its Don Lindsay's(CEO OF TECK) address to Shareholders. The webinar goes for approx 28 minutes and at about the 25 minute mark it gets interesting when Don is asked by a shareholder "At what point do you consider buying an exisiting mine versus developing, considering you are about to spend 5.6 Billion on developing the second phase of its Quebrada Blanca" project in Chile(production expected 2016). He responded by saying "At the October, November and December management meetings that I alloctaed several hours reviewing 400 diffrent copper projects.They then categorised each project into 3 different categories
A- Ones that are going ahead (MNC tick)
B-Which ones had one thing seriously wrong with them.
c-Countries they wouldn't send their people too,or had Angios camped outside them(?????)or companies that had dirty concentrate.
They then narrowed it down to which projects were "Do-able"- roughly ontime and roughly on schedule, have permits done and are actionable.
He then says "that this process narrowed it down to only a few(IS MNC IN THIS CATEGORY??)but they may only have a 6-7 mine year life or a political risk. They might be technically cheap in a negative market but they may not make you a better company, they continually ask will this project make us a better company"
Will Los Calatos make TECK a better company?
MNC Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
