They say that is for fortescue metals, but I say copper is a better investment then iron.
That's just a rumour that Canaccord is spreading around:
''Canaccord is reporting on rumours that Canadian metals giant Teck wants to raise its stake in Fortescue Metals, an Australian iron ore giant.
Teck Resources Ltd. (
TSX:T.TCK,
Stock Forum) has filed an SEC registration notice to raise U.S. $6 billion in debt.
According to a report in Canaccord Wealth Management’s Morning Coffee newsletter, there is a rumour going around that the company wants to increase its stake in Fortescue Metals Group Ltd.
A Bay Street analyst acknowledged that the company does not need the money to fund near-term debt maturities and/or fund internal growth projects, which increases speculation of a share acquisition.
However, he continues to believe that Fortescue is too large a target for Teck to try and acquire on its own.''
