Place your bets, Fools! Surviving this credit crunch and global recession can be something of a crapshoot even for well-funded companies, while for the debt-laden it's pure Russian roulette.
One week after mapping out a general strategy to pay back a crippling $9.8 billion debt, Canadian miner Teck Cominco
Compared to dry bulk carrier Diana Shipping
Unfortunately for Teck shareholders, survival may ultimately cost a bundle, as prized assets like Petaquilla in Panama and the Lobo-Marte gold prospect in northern Chile have been abruptly torn from the project pipeline.
Tragically, Teck also ceded control of the Petaquilla Project to Canada's Inmet Mining for just $30 million in cash. Thought to contain 9.4 billion pounds of copper -- plus gold, silver, and molybdenum -- Petaquilla represents about one-fourth the copper content of Freeport-McMoRan's