www.teck.com
Teck Resources is Canada’s largest diversified mining, mineral processing and metallurgical company. The company produces significant quantities of copper, metallurgical coal and zinc, and is a significant producer of gold, molybdenum and specialty metals, with interests in several oil sands development assets.
Teck options Stratex International's Hasancelebi Gold Project in Turkey
Hanson Westhouse issued a note on Stratex International PLC (AIM: STI), following this week’s news of an option/joint venture agreement with Teck Resources Ltd’s (TSX, NYSE: TCK) Turkish unit to advance the Hasancelebi gold project.
The broker said this move, despite Teck selling assets elsewhere to reduce its debt, including a number of projects in Turkey, provides a clear indication of Teck’s strong belief in Hasançelebi.
Stratex is now very well positioned with several projects in development at minimal cost to itself, a strong cash balance and a memorandum of understanding with Turkish joint venture partner NTF Insaat Ticaret aiming to produce gold from the Inlice and Altintepe projects within the next 18 months, it said.
“Based on this and our revised valuation of 8.5p, which represents a substantial premium to the current share price, we maintain our BUY recommendation on Stratex,” the broker added.




















