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
Over at CAPS, 758 members have rated four-star pick Teck Cominco an outperform. Whether you think Teck will succeed or fail at repaying its debt, please come share your thoughts and counsel with our community of investors. CAPS is free and fun!
Fool contributor Christopher Barker is the commodore of copper, and the Colonel Klink of zinc. He can be found blogging actively and acting Foolishly within the CAPS community under the username TMFSinchiruna. He owns shares of Anglo-American, Diana Shipping, Freeport-McMoRan, Kinross Gold, and Teck Cominco. The Motley Fool has a disclosure policy.