A very informative presentation with Brian Bergot - Vice President, Investor Relations. My key take-aways are: Gribraltar which is in production has a longer mine-life than the current 18 years. Florence Copper is moving ahead as planned. Final permits and financing package expected in Q1 2021. This project should provide great news moving forward starting end of the year. This project is a game-changer for Taseko (85 million pounds annual production at US$1.13/lb cash cost with a 20 year mine life). Yellowhead permits should be in place in 2023 (annual production of LOM average of 130M). New Prosperity Copper (one of the largest Copper Gold porphyries in the world; Life of mine average annual production of ~540,000 gold equivalent oz). The involved parties did not talk to each other any more. They are now sitting again at the table with First Nation. Any positive news could be a major catalyst. This project was the catalyst for the previous alltime highs years back. Taseko Mines Zoom Presentation - November 17 2020
Copper is now @ $3.40 Once the dust has settled concerning the recent private placement I expect that we will see $2 in Q1 2021 when the final permits are received for the Florence Copper project and the financing package is finalized. All those hyped Electric Vehicles need lots of Copper. Therefore I expect a continued upwards movement for Copper which should further benefit the share price of Taseko.
Taseko Mines - Low-cost Copper Producer Looking to Future CRUX Investor interview with Stuart McDonald 2 December 2020
Some news on Taseko's giant wildcard Copper/Gold development project... Taseko and Tŝilhqot’in Nation Extend Standstill to Continue Dialogue December 7, 2020 https://www.tasekomines.com/investo...nation-extend-standstill-to-continue-dialogue December 7, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to announce the following: In late 2019 the Tŝilhqot’in Nation, as represented by Tŝilhqot’in National Government, and Taseko Mines Limited entered into a confidential dialogue, facilitated by the Province of British Columbia, to try to obtain a long-term solution to the conflict regarding Taseko’s proposed gold-copper mine currently known as New Prosperity, acknowledging Taseko’s commercial interests and the Tŝilhqot’in Nation’s opposition to the Project. The dialogue was supported by the parties’ agreement, on December 7, 2019, to a one-year standstill on certain outstanding litigation and regulatory matters that relate to Taseko’s tenures and the area in the vicinity of Teztan Biny (Fish Lake). The Covid-19 pandemic delayed the commencement of the dialogue for several months, but the Tŝilhqot’in Nation and Taseko have made progress in establishing a constructive dialogue. They have agreed to extend the standstill for a further year so they can continue this dialogue. For further information on Taseko, please visit the Taseko website at www.tasekomines.com or contact: Investor enquiries - Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533 Media enquiries - Brian Battison, Vice President, Corporate Affairs - 778-373-4533 or toll free 1-877-441-4533 Russell Hallbauer Chief Executive Officer and Director
Next up is the final permit by the US Environmental Protection Agency (EPA) early 2021... Taseko Mines: Florence Copper Receives Aquifer Protection Permit December 8, 2020 December 8, 2020, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to announce that the Arizona Department of Environmental Quality (“ADEQ”) has granted its Florence Copper Project the Aquifer Protection Permit (“APP”). https://www.tasekomines.com/investo...nce-copper-receives-aquifer-protection-permit
Below are some thoughts on the potential of Taseko in a Copper bull market. Gibraltar currently produces ~ 100 Mlbs of Copper per year for Taseko with cash costs of ~ US $ 1.80 / lb LoM. Let's assume Taseko's share at Florence Copper will amount to 60 Mlbs of Copper per year after the upcoming financing package for the project at the beginning of 2021 with cash costs of ~ US $ 1.13 / lb LoM. From 2023 onwards this will result in a total of 160 Mlbs of Copper per year with cash costs of pretty good ~ US $ 1.55 / lb LoM. Copper is one of the metals needed for the New Green Economy. As a consequence there is in my opinion a very good chance that we will see a copper price of $ 10 in the next 2-3 years. Taseko's current market capitalization is C$ 400 million. At a copper price of $10 the annual profit before taxes with the current US/CA Dollar exchange rate would be ~ C $ 1.7 billion. In addition, the Yellowhead Copper Project is in the pipeline, where construction could start 2023 after receiving permits. (Annual production of 200M lbs copper in first 5 years, LOM average of 180M lbs). And then there is the gigantic New Prosperity Gold Copper Project (One of the Largest Copper Gold porphyries in the world; Life of mine average annual production of ~ 540,000 gold equivalent oz). If all plays out this will be a nice journey with a very high return on investment...
Nice article on the potential of Taseko... Taseko Mines: A Small-Cap Copper Miner With Massive Return Potential Dec. 14, 2020 https://seekingalpha.com/article/43...all-cap-copper-miner-massive-return-potential Summary Taseko Mines is an undervalued, underfollowed small-cap copper stock, with the added benefit of gold and rare niobium reserves. The value of its metal reserves far exceeds the market cap of this company several times over. P/S, P/B and EV/EBITDA are single digits, and expected NPV is larger than the company’s market cap. Surging copper prices are backed by both recovering demand and supply scarcity. Copper will gain from increased government spending and the electric vehicles industry boom. There is a huge disconnect between the market cap of Taseko with its total NPV. Page 17 of Taseko’s presentation slides represent this – based on the conservative C$1 billion valuation gap, Taseko’s fair value could increase by more than US$780 million, which would bring Taseko’s market cap to US$1 billion, or roughly $3.65 per share. This valuation gap presented by the company appears conservative, as it takes into account the NPV from just Gibraltar and Florence.
Interesting read on the potential of the price of copper... Copper Bull Run May Only Be Getting Started December 3, 2020 http://www.usfunds.com/investor-lib...run-may-only-be-getting-started/#.X9t3j9hKg2w Reflecting on the copper bull run, which has lifted the metal’s price some 72% since the March low, one money manager believes this rally could be one for the history books. Says Luke Sadrian, chief investment officer at Commodities World Capital, copper is “looking like it did in ’04 and ’05, and the world didn’t get the memo.” Due to massive imports from China, copper prices increased more than 280% between the beginning of 2004 until they peaked in May 2006. In a note to clients this week, Goldman Sachs analysts said they believe the current price strength “is not an irrational aberration” but rather “the first leg of a structural bull market in copper.” By the first half of 2022, the Wall Street bank says that it’s “highly probable” copper could test its previous record high of nearly $10,150 per ton, set in February 2011.
The Green New Deal will make these metals skyrocket in value - Gianni Kovacevic 31.12.2020 Kitco NEWS
Taseko Mines: Florence Copper Aquifer Protection Permit Not Appealed by Town Council January 5, 2021 https://www.tasekomines.com/investo...rotection-permit-not-appealed-by-town-council January 5, 2021, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to announce that the Florence Town Council has decided it will not appeal the Aquifer Protection Permit (“APP”) which was recently granted by the Arizona Department of Environmental Quality (“ADEQ”). Stuart McDonald, President of Taseko, commented, “We are very pleased by this decision and believe this change in approach by Council signals a new beginning. Our expectation is that open and productive dialogue will result and that our future together is bright.” “We believe that two years of operating the test facility within the strict environmental guidelines set out in our current permits, combined with the future economic benefits from the commercial production facility, certainly contributed to Council’s decision. Transitioning Florence Copper to commercial production, which includes expanding the current wellfield and SX/EW plant, will mean an average of 85 million pounds of copper per year for 20 years beginning in late 2022,” concluded Mr. McDonald. Project Highlights Pre-tax net present value of US$920 million at a 7.5% discount rate After-tax net present value of US$680 million at a 7.5% discount rate IRR of 40% and a 2.3 year payback 20 year mine life with average C1 cash costs of US$1.13 per pound At US$5,600 per ton of installed capacity, Florence Copper is one of the lowest capital intensity copper projects in the world Reserves of 345 million tons grading 0.36% copper containing 2.5 billion pounds of copper The Florence Copper NI 43-101 technical report is available on www.sedar.com or the Company’s website at www.tasekomines.com.
This means that Taseko will most likely keep the whole Florence Copper output for themselves. No additional financing is needed to get Florence Copper into production. Once the final permits are received we should trade somewhere around C$3 imo... Taseko Announces Upsizing and Pricing of Senior Secured Notes Offering January 27, 2021 January 27, 2021, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko”) today announced that it has upsized and priced an offering of US$400 million aggregate principal amount of Senior Secured Notes due 2026 (the “Notes”), an upsize of US$75 million over the amount previously announced. Interest on the Notes will accrue at an annual rate of 7.0% payable semi-annually, and the Notes will be issued at par. The offering is expected to close on February 10, 2021, subject to customary closing conditions. https://www.tasekomines.com/investo...-and-pricing-of-senior-secured-notes-offering
Lassonde on Copper (16:20): Copper is the metal of the future. Own copper! Billionaire Pierre Lassonde on #SilverSqueeze , Gold Mining Business & Advice for Speculators 03 February 2021
Good read... Taseko Mines: Note Offering Gives It Nearly Enough Funding For Florence Copper Feb. 06, 2021 3:02 AM ETTaseko Mines Limited (TGB) Summary Taseko is issuing US$400 million in 7.0% secured notes due 2026. It is using the proceeds to repay its US$250 million in 8.75% secured notes due 2022. The remaining proceeds plus positive cash flow at US$3.50 copper should give it nearly enough funds to pay for the US$227 million initial Florence Copper capex by mid-2021. It is still waiting for an EPA permit, but financing appears to be in good shape now. Shares could be worth US$2+ at US$3.00 longer-term copper and a producing Florence Copper. https://seekingalpha.com/article/44...opper?utm_source=stck.pro&utm_medium=referral
Taseko Mines Completes Notes Offering and Moves Forward with Florence Copper Commercial Production Facility February 10, 2021 https://www.tasekomines.com/investo...lorence-copper-commercial-production-facility Stuart McDonald, President of Taseko, commented, “This bond refinancing and upsize has significantly strengthened Taseko’s financial position and lowered our cost of capital.We now have a cash balance of approximately US$200 million and no significant debt maturities until 2026.With the majority of the required funding for our Florence Copper project now in hand, we are moving forward with final design engineering of the commercial production facility as well as procurement of certain critical components.” “Capital requirements for the commercial production facility are estimated at US$230 million,” added Mr. McDonald. “We continue to advance discussions with potential joint venture partners, but with our strong cash balance and improved Gibraltar cash flows from copper prices that are currently over US$3.70 per pound, we have numerous options available to obtain the remaining funding.”
Copper Surges Above $9,000 as Shortfall Concern Spurs Rally Bloomberg News 22. Februar 2021 https://www.bloomberg.com/news/arti...ve-9-000-as-major-deficit-drives-record-rally Citigroup sees copper at $10,000 “sooner rather than later” “The list of bullish factors for copper is extremely long,” Max Layton, head of EMEA commodities research at Citigroup Inc., said by phone from London. “A lot of the most bullish developments are really going to play out in the next few months, and therefore we think it’s going to be sooner rather than later that it gets to $10,000.”
Taseko Mines (TGB) Q4 2020 Earnings Call Transcript Q4 2020 Earnings Call Feb 25, 2021 https://www.fool.com/earnings/call-...hoo-host&utm_medium=feed&utm_campaign=article Between all of our operating and development assets, we have 15 billion pounds of reserves. I mean that's not resources. That's not -- those are all 43-101 reserves, all with feasibility studies on. So if we look at that in the context of the industry, that -- those are more reserves than Lundin has, Hudbay has, Capstone has and Copper Mountain. In fact, our reserves are 50% greater than Capstone's and Copper Mountain's combined. And those reserves are valued at less than $0.05 a pound in the ground, while Lundin is valued at $0.30, Capstone at $0.30 and Copper Mountain at a staggering $0.80. So some of the catch-up of these metrics by investors will occur in terms of growth -- as our growth of our production continues. And that's going to be in a pretty short period of time, the next 36 to 48 months if we continue on this path of where we think copper price is. So frankly, I think we're the best growth story in the copper space.
This stock still has lots of potential imo... BMO Capital Markets Global Metals & Mining Conference March 1-5, 2021 Presentation https://www.tasekomines.com/investors
Taseko Mines: Court of Appeal Decides in Favor of Florence Copper March 23, 2021 https://www.tasekomines.com/investo...of-appeal-decides-in-favor-of-florence-copper Today’s decision marks the latest in a series of important milestones: The legal challenges initiated by previous Town Councils have run their course with every decision in Florence Copper’s favor. One of the two key permits necessary for commercial operations has been granted by the Arizona Department of Environmental Quality, and the federal Environmental Protection Agency is taking the final steps required to issue the second key operating permit. The success of the recent bond offering means capital requirements for commercial production are in hand Final design and engineering of the commercial in-situ production facility as well as procurement of certain critical components is underway.
