Re: Teck debt rating now Junk
posted on
Sep 14, 2015 10:47PM
I was thinking something similar Dogger. As much as we like to think that Teck is a quality company and should always deal in "good faith" they may have hoped to wait us out in hopes they could pick up CF at a greatly reduced price. I'm sure after the acquisition of Fordimg Coal they had discussed never getting in that position again but low and behold here they are. A little different this time in that they have a reasonable amount t of cash on hand and should have a nice cash flow when Fort Hills gets up and running (assuming the NDP Alberta government doesn't completely lose their mind) They may now be forced into trying to "polish" up a few potential projects to show the market that they remain the strongest Canadian Mining company which means we may end up with a better looking feasibility release than originally anticipated. Especially if they have come to the conclusion that Ernesto will stay "long and strong" as long as it takes!