# Taseko Mines Ltd. (TKO.TO)



## JordoR (Aug 20, 2013)

Surprised I didn't see a thread on this. BC focused mining company primarily focused on it's operating mine Gibraltar in Williams Lake, BC. Gibraltar recently underwent the GDP3 expansion to increase plant throughput and it is now fully operational. Of course they also have the New Prosperity project which was rejected by the federal government once, but is currently under review again. With the final decision going to be made at the end of Q1 2014. Taseko also has the smaller Aley and Harmony projects, which are both currently in very early study and exploration phases.

Recently Taseko has been on quite the rise. I purchased at 2.11 end of September and it has been steadily rising to now 2.73. Just under 30% gain in a month's time.

I'm interested to hear if anyone has similar positions in Taseko, and any speculation on the upcoming Q3 results on Oct.30, and what impact it will have on share price. I`m currently holding Taseko long awaiting the New Prosperity approval, as that would have a huge impact on share prices. Otherwise I might consider taking my 30% especially with the upcoming Q3 results.

Just thought I would open up a discussion on Taseko, I have been following them for years and have a lot of knowledge on them.


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## Sherlock (Apr 18, 2010)

I flipped this for a small profit several times over the past 2 years. Purely speculative. I currently hold several hundred shares which i bought for $2.80 a few months ago. It went down and now it seems to be on its way up. Where do you think this stock will be in a few years?


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## JordoR (Aug 20, 2013)

Thanks for the dialogue Sherlock.

Even solely with the recent expansion to the Gibraltar mine pushing throughput from the original 60,000 TPD up to 85,000 TPD (and even higher) I believe Taseko should be valued at 3.20-3.50, but I'm not expert. However most large banks seem to second this evaluation.

The big game changer will be riding on the approval of the New Prosperity project from the federal government. True, the project is valued at I believe 850 million and Taseko has nowhere near that in assets - but what they do have is two promising properties in Aley and Harmony, which they could potentially sell off. Or of course they could sell a stake in Gibraltar or Prosperity. If approved, New Prosperity is quite a ways off from construction and production, but the production numbers and reserves are pretty impressive. I strongly believe it will receive federal approval end of Q1 2014 - however I'm not too great on predicting future value and whether Taseko will be worth $5 per share or $10.


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## underemployedactor (Oct 22, 2011)

Not good news today from the Fed's environmental assessment I'm afraid. But I guess they still have Gibralter....


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## JordoR (Aug 20, 2013)

Yes... bit bit of a blow today thats for sure. Ultimately the panel that produced this new negative environmental report doesn't have a say in the decision, but obviously this will have an affect on the final decision. Will be waiting anxiously to see what happens at the end of 120 days from now for the final decision. The 10% drop hurts today, but it's still a long term position for me.


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## JordoR (Aug 20, 2013)

So the 120 days for the federal review of the Prosperity mine will be this Friday February 28th, but it appears the official announcement has come out two days early.

http://www.sys-con.com/node/2988974

They have officially rejected it. However, Taseko will almost certainly appeal the decision as the environmental panel used incorrect information on the tailings seepage. Regardless, I would expect the stock to drop quite significantly tomorrow as this decision has been looming for quite some time. I have already put in my order to sell all my positions for a nice profit, and might buy back when it crashes.

Could also make some money shorting this tomorrow, as it will certainly drop. I am speculating down to the $1.80 mark from the current $2.37


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## JordoR (Aug 20, 2013)

Dropped below $1 today for the first time since 2008.
It's been beat up quite a bit over the last 6 months, but I think it's very undervalued at under $1. Look to see this jump up once the price of copper stabilizes a bit.

Started a position at $.98


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