Teck Resources

Quote, "But I think as the agency continues to grow, we will do more equity investments," she added.

Now, continuing on, we have an update on the Anglo-Tech merger, which we're seeing that unusual story last week that China had a veto on this deal, which was a little surprising.

Let's see what the update is here.

And this is Reuters via mining.com on October 7th.

Anglo-Tech merger, nickel sale are test cases for navigating geopolitical complexities, CEO says.

Anglo Americans' proposed fifty-four billion dollar merger with Canada's Tech Resources and the sale of its Brazilian nickel business have become test cases for navigating geopolitical complexities as they await antitrust approval, CEO Duncan Wanblat said on Wednesday.

The Anglo Tech merger, announced in twenty twenty-five, has received approval from all countries where the companies operate except China.

So, you know, over four years we managed to find three strategics.

Eric Sprott, Teck, South32, and cost $55 million in the bank.

And, you know, some people would say we, we had safe meterage and, you know, we're kinda drilling where we know, knew was, you know, mineralization and we, we did small little step outs.

So those, that was safe drilling.

And when we did sell shares, they went to good strategic investors.

People that could buy the company someday.

Teck, South32 or InterExplora-

Yeah

So no, we have some stock options, not a lot, and some RSUs.

In terms of ownership, tech resources, obviously Supermajor owns 31% of the company.

Morobeni, our strategic Japanese partner, the fifth largest trading house in Japan, owns 13%.

Board and management owns 36%.

So I think it is a very nice, uh, backdrop, uh, for the copper market, and I'm, you know, comfortable as an investor, and most com- investors should be comfortable, um, at the current price.

And I think that positions, you know, uh, buying in producers or developers and ultimately the big companies like BHP and Teck and the cop- copper traders will dictate the price, right? If they want, if they wanna have a $10 copper to finance new production that we need in five years, 10 years, that's what's gonna happen.

Great summary.

What about the gold space? How are you thinking about that right now? Because obviously new all-time highs earlier in the year.

And he said, "This is the geologic model.

This is an intrusion-related gold system." And at the time, I-- the, the whole story is, uh, Bill went to the guy who was the VP exploration of Teck, and Teck was a ten percent owner of Midas Gold at the time, and said at a PDAC, um, took the guy aside and said, "Hey, I know you've invested in this.

This is-- I know you guys think it's a caldera-related, um, gold system, but look at this data.

This is an intrusive-related system." Spent an hour and a half with this guy, and before you know it, they now refer to it and recognize that it's an intrusion-related gold system.

So Clifford Olson was born New Year's Day in Vancouver, BC in the year 1940.

Going back to the industrial pollution theory of serial killer proliferation we covered in our Gary Ridgway series, Olson was born near the Teck Cominco smelter outside of Vancouver, which has the dubious distinction of being the largest lead zinc smelter in the world.

No way.

[laughs]

But what I particularly like about this group of exhibitors is that they represent, uh, with the exception of majors, uh, most facets of mining in Mexico.

John Mark Staudy with Riverside Resources has done grassroots exploration in Mexico, both on his own account and also on the account of Teck Corp and BHP for thirty-five years.

He's, uh, exposed to the geological potential, the potential that Dr. Steve Enders will talk about, but he's exposed where the rubber meets the road.

Uh, the practical work of exploration, raising money for exploration, doing joint ventures, dealing in remote parts of Mexico, uh, with people that you normally wouldn't invite, invite home to have lunch with.

Everybody's giddy about our natural resources, and now our ability to finally get them out the ground and moving.

I sat on a panel with, uh, the CEO of Cameco, the CEO of Teck Resources, and the CEO of Agnico Eagle to really tackle the critical minerals piece, which is a key part of the Canada Strong agenda.

In this episode, we have an extended conversation with the CEO of Agnico Eagle, Ammar Al-Jundi, who says this moment is very real.

He'll tell us in the podcast he plans on spending more in this country, and he'll tell us a little bit more about why this gold producer is very interested in critical minerals.