Thank you for responding to my questions in the past. This time I don't have a question but rather would like to convey to you my opinion of what is coming up.
I can only read about an upcoming recession that is about to grip Europe and spread worldwide. Industry is shutting down over there due to lack of energy. Russia can not lose this war and won't. NATO can not lose this war as the USA loses it dominance of the world.
Should CF not consider selling SC now instead of waiting for the promised eye in the sky copper prices to go up. They may go up but we could be in for a decade of depression.
Just to let you know, as one shareholder, I think we should sell something now, preferably CF as we have no control over it anyway.
thanks for your time. I would probably post your response on the Agoracom stock forum
XXX
Hi XXX, thanks for your email.
I understand your interpretation of what economic uncertainty that is currently going on globally. We all are inundated with micro news every day about the impending significant recession that is going to evolve shortly. And no doubt some countries will experience more severe circumstances than others. We have to wait to see just how much of this evolves in the near future.
The company is certainly willing to sell SC and has indicated so in past communication, but one thing you have to understand is that Ernesto Echavarria owns over 50% of the company and it will ultimately be his decision whether the time is right to sell an asset, and he has indicated he will sell an asset if the company gets fair value for it. Unfortunately, during a possible recession is not the best time to get fair value in an asset sale, especially when all the business news suggests the tremendous amount of copper and other metals that will be required to meet even a portion of the electrification that will be required.
So the timing is just not right and hopefully we will start to see the added value that Teck is creating with the programs they are undertaken at SC recently.
Best Regards,
Colin
