Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced its fourth quarter results for 2009. The company reported net earnings of $1.8 billion, or $3.42 per share, for 2009 and $411 million, or $0.70 per share, in the fourth quarter.
The press release is quoted as saying:
In January 2010, Andacollo completed the previously announced sale of an interest in future gold production to Royal Gold Inc. (“Royal Gold”). Proceeds to Andacollo, on a 100% basis, were US$218 million and 1.2 million common shares of Royal Gold, valued at US$56 million. Royal Gold’s production entitlement is equivalent to 75% of the payable gold produced until total cumulative production reaches 910,000 ounces of gold, and 50% thereafter.
