I'm going to voice what a few here know but many are missing.
Teck got handed their next 50 year lifeline, and I honestly believe they are worried about lossing control of it! Everyone is forgetting we own or rather control 100% of the asset at this point. We are not doing the courting, well maybe we are but we shouldnt be. Teck desperately wants to make an offer that Ernesto will like. and yes this basically comes down to one man plus a handful of others that will follow EEs lead. Yes we cant stop the 75% back in for under $400M but EE could say no to a $4Billon dollar deal; he has that power(IMHO he could but I doubt he will) and then turn around and sell the controling interest albeit only 25% to the heighest bidder. Teck is worried!
Snatching SC is the cornerstone to Tecks bigger plan. I beleive Teck MUST get SC to make galore worth anything! EE is in the drivers seat and trust me he has lost enough on other stinky deals that he will squeeze the water out of these stones.
this doesnt mean the share price is going to reflect this. I spoke with an old Investment broker and his words of infamy are "why waste a good stock play on a great company, and vise versa" meaning the share price and the true value rarely are equal in junior plays. I smiled when I started to read the PR. I finally knew what they were refering to when the said "derisking". Elmer says:Teck this is the worse case! -> Tecks response is: no the worse case is if we don't get 100% of this and end up giving 75% away to whoever CUU sells their controling interest to.
Forget about the trading rollercoaster we are going to witness in the next few weeks. Stay in the shadow of the EE. He will protect his interest and in doing so protect yours.
Laddies and Gentelmen, Start your engines! and if your tapped out for funds bukle your seat belts this is history in the making!!
