teck resources ltd-cls b (TCK/B) Snapshot

INV Metals Inc. and Teck Resources Limited have entered into an option agreement with a private Brazilian company pertaining to the Rio Novo South property. Private Co. has the right to earn a 60% interest in Rio Novo South by funding $6 million in exploration expenditures by December 31, 2015. Private Co. has committed to fund exploration expenditures of $2.5 million on the property's copper and gold targets by December 31, 2014, including $1 million which must be expended by December 31, 2013. Within the $2.5 million of aggregate committed exploration expenditures, Private Co. must complete 6,000 metres of drilling, of which 5,200 metres must be drilled on copper targets previously indentified by INV Metals and Teck. If Private Co. fails to meet the committed expenditures by the dates noted above, the option will terminate and Private Co. will be obligated to pay an amount equal to one-half of the shortfall to each of INV Metals and Teck.

Teck Resources Limited announced that it will pay an eligible semi-annual dividend of $0.45 per share on its outstanding Class A common shares and Class B subordinate voting shares on July 2, 2013, to shareholders of record at the close of business on June 14, 2013.

Teck Resources Limited reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of CAD 2,330 million compared to CAD 2,547 million a year ago. Profit from operations was CAD 633 million compared to CAD 1,015 million a year ago. Profit before tax was CAD 532 million compared to CAD 522 million a year ago. Profit attributable to the shareholders of the company was CAD 319 million or CAD 0.55 per basic and diluted share compared to CAD 258 million or CAD 0.44 per basic and diluted share a year ago. Cash flows from operating activities were CAD 776 million compared to CAD 1,064 million a year ago. EBITDA was CAD 902 million against CAD 848 million a year ago. Purchase of property, plant and equipment was CAD 388 million against CAD 299 million a year ago. Adjusted profit was CAD 328 million against CAD 544 million a year ago. Adjusted earnings per share were CAD 0.56 against CAD 0.93 a year ago. Cash flow form operations, before working capital changes was CAD 776 million against CAD 1.1 billion a year ago.