Su/TekCould they both be right on Fort Hills? Suncor is a premiere oil sands operator with
many years of experience and Tek is a more of a hard rock mining co with vasts coal
deposits.
In a bull commodity metals market Tek has so many other options to place their
Fort Hills investment dollars which I think is just around the corner. The world is
changing and base metals such as copper, zinc, nickel, tin etc will be in high
demand with the drive towards electrification in all areas. From renewables to Ev's
to battery technology and electrical optimization and storage there is no end in sight
to the massive changes in the grid that will need to occur.
Suncor on the other hand is in the oil business and has the people and expertise
to turn Fort Hills into a going concern. Fossil fuel usage will at some future point be
diminshed to a great extent but that is most likely stiil years away in the future. In
the meantime the world is still very dependant on oil as we have all witnessed. To
buy out Teks percentage for such a reasonable price is not a bad move and really
just makes good sense for SU.
Only time will tell who ends up the big winner but I am at this point feeling both
are in a win win situation. It makes sense for both companies and thats why the
deal was done.