Key Developments: Teck Resources Ltd (TCK)
27.75USD
21 May 2013
$-0.23 (-0.82%)
$27.22
$27.70
$28.22
$27.36
2,803,744
2,939,126
$38.57
$23.48
Latest Key Developments (Source: Significant Developments)
True Gold Mining Inc. Closes $9.99 Million Financing With Teck Resources Ltd-Canada Stockwatch
Canada Stockwatch reported that True Gold Mining Inc. has closed the $9,999,999.90 non-brokered private placement with Teck Resources Ltd. announced previously. True Gold issued 30,303,030 common shares at a price per Share of 33 cents to Teck. Teck now holds 32,053,030 shares, representing approximately 15% of shares outstanding. Full Article
Teck Resources Ltd Announces Semi-Annual Dividend
Teck Resources Ltd announced that it will pay an eligible semi-annual dividend of $0.45 per share on outstanding Class A common shares and Class B subordinate voting shares on July 2, 2013, to shareholders of record at the close of business on June 14, 2013. Full Article
Coro Mining Corp Provides Update On Sale Of Chacay To Teck Resources Limited's Compania Minera Relincho SA
Coro Mining Corp. announced that it provides an update on the sale of its Chacay project to Compania Minera Relincho SA, a subsidiary of Teck Resources Limited (Teck) for a total price of $2.5 million plus a 1.5% net smelter return ("NSR"), as previously announced on February 19, 2013. Teck and Coro have now agreed to amend the purchase price to $2 million plus a 1.5% NSR payable on closing of the sale and transfer of the core mining claims covering the known mineralization, plus an additional $0.5 million plus a 1.5% NSR payable on conversion of the surrounding exploration claims to mining claims. This conversion process is expected to be completed before the end of 2013. Full Article
Teck Resources Ltd Announces Decision in Phase 1 of Upper Columbia River Litigation
Teck Resources Ltd announced that the Federal District Court for Eastern Washington has ruled in favor of the plaintiffs in Phase 1 of the Pakootas case. The court has issued a declaratory judgment that Teck Metals Ltd. (TML) is liable under CERCLA for response costs, the amount of which will be determined in the subsequent phase of the case. The subsequent hearing, with respect to claims for natural resource damages and costs, has not yet been scheduled and is expected to be deferred until the remedial investigation and feasibility study with respect to environmental conditions in the Upper Columbia River is substantially complete. That study, being undertaken by Teck American Incorporated (TAI) pursuant to a 2006 agreement with the United States Environmental Protection Agency, is currently expected to be completed in 2015. TAI continues to work the with Environmental Protection Agency, the State of Washington, local tribes and others on studies in the Upper Columbia River, which to date have generally shown that the water in the river system meets applicable water quality standards in both Canada and the United States, that the beaches are safe for recreational activities, and that the fish in the river system are as safe or safer to eat than fish in other water bodies in Washington State. TAI has commissioned a study by experts in natural resource damage assessment and on the basis of that study it estimates that the compensable value of any damage will not be material. Full Article
Teck Resources Ltd Announces 12.5% Dividend Increase
Teck Resources Ltd announced that it will pay an eligible dividend of $0.45 per share on its outstanding Class A common shares and Class B subordinate voting shares on January 2, 2013, to shareholders of record at the close of business on December 14, 2012. This represents a 12.5% increase from the previous dividend. Full Article
Teck Resources Ltd Sees FY 2012 Production Guidance At Low End Of Prior Range-Conference Call
Teck Resources Ltd announced that it currently expect to come in at the low end of production guidance range for fiscal 2012. Full Article
Connemara Mining Company PLC Announces Exploration Update on Oldcastle Block With Teck Resources Ltd's Subsidiary Teck Ireland Ltd
Connemara Mining Co Plc announced an update on its exploration of the Oldcastle Block of licenses in Cavan and Meath. This project is covered by a joint venture agreement with Teck Ireland Ltd (Teck), a subsidiary of Teck Resources Ltd, to identify and explore potential Zinc and Lead deposits. Teck can earn a 75% interest in the block by spending EUR 1.35 million. A target definition program comprising geological, geochemical and gravity data collection and analysis has commenced. Geological mapping and sampling of historic outcrops is underway and soil sampling is seeking to extend and characterize the known soil anomaly within the Drumlerry area. Reprocessing of both airborne and ground geophysical data is ongoing. The aim of the current program is to identify new drill targets for drill testing in late 2012 or 2013. Full Article
Teck Resources Ltd Announces Agreement As To Certain Facts In Upper Columbia River Litigation
Teck Resources Ltd announced that Teck Metals Ltd. (TML) has entered into an agreement regarding certain facts with the plaintiffs in Pakootas et al v. Teck Metals Ltd. in civil proceedings under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). The effect of the agreement is to avoid the need for a trial over technical issues in the liability phase of the case. Despite the agreement, important scientific issues, as well as jurisdictional and other legal issues relating to the case remain to be resolved. The agreement stipulates that some portion of the slag discharged from Teck's Trail Operations into the Columbia River between 1896 and 1995, and some portion of the effluent discharged from Trail Operations, have been transported to and are present in the Upper Columbia River in the United States, and that some hazardous substances from the slag and effluent have been released into the environment within the United States. These facts are expected to provide the minimum requirements to allow the court to find in favour of the plaintiffs on their claim for a declaratory judgment that TML is liable under CERCLA for response costs, the amount of which will be determined in a subsequent phase of the case. Teck continues to work cooperatively with regulators to complete its investigation of environmental conditions in the Upper Columbia River. Full Article
Teck Resources Ltd Revises FY 2012 Production Guidance-Conference Call
Teck Resources Ltd announced that guidance for fiscal 2012 is 350,000 to 375,000 tonne range. It is expecting to be producing at an annualized rate of about 400,000 tonnes by the end of the year, and that is basically from the Andacollo Highland Valley copper Antamina operation. Full Article
Teck Resources Ltd Announces Subscription To Strait Minerals Inc Share Placement
Teck Resources Ltd announced that it has subscribed for and acquired an additional 3,000,000 common shares of Strait Minerals Inc at a cost of $0.10 per common share, as part of a private placement conducted by Strait. The common shares issued to Teck are legended and restricted from trading until December 16, 2012. Teck directly holds 6,000,000 common shares of Strait, representing approximately 10.56% of the outstanding common shares of Strait, after giving effect to the private placement. Teck also holds 3,000,000 share-purchase warrants of Strait exercisable at $0.25 per warrant by December 16, 2012 or at $0.35 by December 31, 2013. If Teck were to exercise all of its warrants it would hold 9,000,0000 common shares, or approximately 15.03%, of Strait's outstanding common shares, calculated on a partially diluted basis assuming the exercise of the Teck warrants only. Full Article
UPDATE 2-Teck plays down M&A moves as profit hit by coal price
* CEO says M&A speculation overblown (Recasts with comments from CEO and analysts, adds share price)
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