Taseko Mines Ltd T.TKO

Lets talk NP for a moment

[JCSunsfan]

If NP manages to get FN support, what is it worth?

Copper Mountain sold the Eva project in October for around $200 million.  

Eva is supposed to have the potential to produce 114 million lbs of copper, 54,000 oz of gold, and 367,000 oz of silver per year for a 32 year mine life (mine life is such a guess).

New Prosperity is projected to produce 110 million pounds of copper and a whopping 230,000 oz of gold per year. Not sure about silver.  There must be a silver stream at NP.  IOW.  About twice the revenue total.  I have not compared c1 differences.

Is it reasonable to assume that NP's value for sale in its present condition, with FN on board, should be about $400 million?  I admit, my knowledge on these projects is limited, so it might be an apples and oranges comparison.

[JCSunsfan]

No one commenting on this yet.  This will happen.  An agreement with the FN will be reached, and NP will be sold as part of the process. The only question is for how much. This will have a huge bearing on market cap.  Selling NP for $200 million would be a fire sale and yet that's almost 50% of the present market cap.  Big mines are now scrounging around for projects

[rogerrooth]

Wouldn't First Nations want to negotiate only with the eventual owner and builder of the New Prosperity claim.

[JCSunsfan]

We have no idea what is going on behind the scenes on this except negotiations are happening.  If I was a big company looking for a project, I would be behind the scenes negotiations with TASEKO and the FN to buy NP.  It's one of the most lucrative projects out there should it be approved.  This could be going on right now.  It should be going on right now.  It just

[nofluff]

Analysts  r saying world is going into copper deficit as we type. An agreement has to be reached with fn to get value from fn. I quite believe, these talks are simply a vehicle to wait for 10.00 copper. At that point, the pie is divided up. Gov. and fn take there cuts. Tko gets what is left. Without a sale, sp would jump 200 million on agreement.  On permit, flor is valued at 1 billion

[JCSunsfan]

I think the best scenario would be to sell 60% to a different operator.  That way Taseko could have a cash haul now and take advantage of the big return later.  Meanwhile, another company becomes the name associated with the site.

[JoeStockIQ]

Sorry to rain on your parade JC but why are you so certain a deal is definitely going to get done? Based on what exactly? Because you want it to get done? Because it's logical for a deal to be made? Sorry but none of that matters if the FN remains steadfastly against the project as they hold all of the legal power. You know our position, we're long Taseko and always have been but the

[JCSunsfan]

Company reps say it will eventually get built--by someone.  Interestingly, FN do NOT hold the legal power.  That has been the Taseko frustration all along.  What the FN hold is the POLITICAL power.  The FN are still at the table talking. That means something. They have not walked away.   However, the original question is:  What is NP worth IF the FN sign on?

[copperminer]

Sunner, you are absolutely spot on re the FN and the Williams Decision. The FN were given land title to the historic land area that was a traditional type of townsite for them. The Judge did not title any land where the FN trailed the food animals over in nomadic wanderings, not one acre. Nice educational post. cm

[JCSunsfan]

I do think this is one of the reasons they are at the table talking.  BC wants this mine built but national entities would not stand up to the FN and so they manufactured a technicality to reject the mine plan.  If it was simply a matter of adding a liner that could have happened long ago.  Obviously someone told Taseko don't come back until you have FN on board.  What the

[nofluff]

Step 1. Fn gets on board. step 2. get permit.   That might happen in 2 years if copper price jumps. Then a year of stripping while they do mill ground work. Then 2 years to build and ramp mill. So 4 years in a perfect world. Mine manpower is the big prob. Teck has to dilute there skilled force to send to there 2 mega chile mines. That leaves tko the best fit. They could dilute skills at

[cupricity]

This is exactly the point. The mine is traditional territory but not deeded land or even aboriginal title land.  The liner was there as well but was not modeled in the agreement but at the end of the day the NDP and any other provincial party is fully supportive of a mine that replaces 1000s of lost forestry jobs.  Also copper is critical to fight climate change.  Currently the

[JoeStockIQ]

You guys are wrong about the legal power, read the prior Court decisions. Taseko simply can't build a mine there without FN sign off. You can call that political power instead of legal power if you so desire but that doesn't change the end result. Of course it remains true that no one other than Taseko can build either. What's it worth? Depends on structure of any potential deal. At

[JCSunsfan]

Man, I have been following this since before it happened.  The mine site is outside deeded tribal land.  The permit was rejected on the engineering, not tribal rights claims.  BC is still pushing the two sides together to get it worked out.  I have read all the court decisions. 

[rogerrooth]

JC, you are correct.... the New Prosperity mine site is on the Queen's Land; what was galling is that the Feds allowed Taseko to drill the site for resource evaluation - only to deny the mine permit for supposedly minor reasons ( no liner) ; FN  clearly had the feds in their back pocket.

[nofluff]

If the mine had been approved way back in the beginning, the metal was not needed and eould have been given away 4 nothing. Today metal is needed and price is expected up. Fn have certain legal rights to be consulted and involved. That is what is happening now. We will need at least 10.00 cad copper for a deal.  Then everyone can benefit.  Until then np asset value is limited. nf

[2024golden]

Queens land....and now the queen is dead!

[AlwaysLong683]

".....many of us here have an average cost per share well under $1...." Lol. I highly doubt that JoeStock. TKO hasn't traded under 1.00 since the COVID Crash during the first half of 2020. Watch how easy this is: I purchased CSU at an average cost of 290.00 back in 2014. Today's close: 2,627.89. Almost a 10 bagger!!!

[JCSunsfan]

Most of us were on this board posting when it was .50 a share.  So show up late and LOL all you want.  Doesn't change the facts.

[AlwaysLong683]

Over the past decade (120 months): Under $1.00:   45 Months                          (Jan 2015 - Nov 2016:  22 months)                          (Aug 2018 - July 2020:  23 months)                 Over $1.00

[AlwaysLong683]

That's TKO in CAD.

[JoeStockIQ]

That's right AlwaysLong, whoever you are. TGB went down to under 25 US cents per share after the COVID scare and remained under 80 cents for a full six months and we picked up loads of shares thanks to a friend of ours that turned our little group onto the stock. Nothing newsworthy there as we have been here the whole time. You act like less than theee years is a lifetime. It's not. From

[cupricity]

On the other hand leadership at FN change all the time. The youth are less concerned about tradition and more about their own issues.  As the people who put down hard lines on both sides of the argument fade away new people come in and see the reward and challenges in different ways.  It's a long shot but with a 10 to 15 year horizon its almost a certainty.

[JCSunsfan]

I believe this is true. Taseko does have to find away to share the wealth with the FN.  probably more than jobs.

[BigCountry]

Doesn't seem like much after sinking 200 mill into it but sure anything would be a bonus at this point 

[templetooth2]

I have not followed the history on this at all. When first looking at Taseko not long ago I saw passing reference to the FN dead against this project, and having been dead against for a long time. Are you trying to suggest this is a negotiation tactic? On what basis do you think the two sides are negotiating? Would it not be political suicide for tribal leadership to be caught in the same room

[JCSunsfan]

This is copied and pasted from the most recent quarterly report. New Prosperity Gold-Copper Project In late 2019, the Tilhqot’in Nation, as represented by Tilhqot’in National Government, and Taseko entered into a confidential dialogue, with the involvement of the Province of British Columbia, in order to obtain a long-term resolution of the conflict regarding Taseko’s proposed copper-gold mine