Understood, Spitfire. Glass half-empty or glass half-full depends very much on your average share price.
If this does get taken out for $2 to $3, there will be many investors in the same boat as you, or even worse. It will not represent a 100 per cent gain for everyone and it could have involved years of having your money tied up here.
I truly see Teck making a modest offer for Schaft Creek. These are much, much different times than July 2008 when Teck dished out big bucks for Fording Coal on the eve of an unforeseen major recession. While that deal ultimately turned out to be profitable, Teck wound up teetering on the brink of bankruptcy.
There's no way Don Lindsay is going to put Teck back in a position where they overpay for any project, especially when the economy is as shaky as it is now. He's too savvy from that. and he will have learned from the Fording experience.
So $2 to $3 it likely will be, IMO.
By the way, how many of you have told your spouse about the BFS being released yesterday? I haven't breathed a word. I won't say anything until the buyout is a done deal. At least then, once I hear the "the stock market is nothing but gambling" speech one more time, I MIGHT have enough money left in the account to make a counter-argument.
GLTA.
