Copper Fox Metals Inc.

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM Copper Fox Metals is a Canadian-based resource company focused on developing the world-class Schaft Creek Project in northwestern British Columbia.

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Teck selling exploration projects?

almost 8 years ago

in response to sydneyb's message

This is from a Motley Fool piece from yesterday, on Teck wanting to regain its credit rating. I've underlined the portion that might be (hopefully is) relevant to us.

Teck has already started to trim away its debt, reducing it from $9.6 billion at the end of last year to $6.97 billion as of the end of the second quarter. That said, the company still has a way to go. CFO Ron Millos stated that it would need to trim another $1.5-2 billion to regain its investment-grade rating.

The CFO noted that additional asset sales would likely be its ticket to hitting the debt-reduction target. He said the company is working to put some of its infrastructure assets up for sale, including the Waneta Dam and Ridley coal terminal in British Columbia. In addition, the company has several non-core exploration projects it could sell. However, it will not sell assets at just any price; it needs to get a good value.