I just got off the conference call and Don sounds very optimistic about copper and copper production buildout will be a priority focus of Teck going forward.
He replied to one question stating that they have no plans to use acquisitions to build up their production. They will instead spend on their great upcoming projects....If a great opportunity would come up for acquisition they would look at it but they haven't seen one yet. Don't be discouraged by this statement. He hasn't seen an official CF BFS yet and until he does he can't comment on Copper Fox. In fact I don't think they will comment on Copper Fox until they have decided on the back-in/buyout opportunity.
Teck could back-in and buyout the Schaft Creek deposit interest without calling that a company take-over (spinco for us). Or, Teck could also say 'well, an interesting BFS did come up' so we're acquiring as we stated.
They have $4.4 Billion in cash to spend, plus ongoing cashflow. They will have a lower capex spending in 2012 as 2011 heavy-capex developements now come into production in 2012. And, they are not hunting for acquisitions. Gee willikers, what will they do with all that money!!?!?
