Taseko Mines Ltd T.TKO

Taseko Sell Harmony Gold Project

[Cognition777]

July 12, 2021, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE MKT: TGB; LSE: TKO) (“Taseko” or the “Company”) is pleased to announce that it has entered into an agreement to sell the Harmony Gold Project (“Harmony” or the “Project”) to JDS Gold Inc. (“JDS”), a newly incorporated company controlled by JDS Energy & Mining Inc. and affiliates. Under the terms of the agreement, JDS will become the owner and operator of the Harmony Gold Project, a high-grade development-stage gold project located on Graham Island in Haida Gwaii.

Taseko will retain a 15% carried interest in JDS and a 2% net smelter return royalty on the Project.Taseko also has the right to terminate the agreement and revert to 100% ownership of Harmony in the event JDS does not achieve certain project development milestones and an IPO or other liquidity event within an agreed timeframe. Closing of the transaction remains subject to customary terms and conditions.

Stuart McDonald, President and CEO of Taseko, commented, “We are continually looking for ways to create shareholder value from our extensive pipeline of high-quality development projects.With Florence Copper expected to commence construction later this year and our large-scale Yellowhead Copper project preparing to enter the environmental assessment process, we did not expect to be in a position to advance Harmony for a number of years. JDS Energy & Mining Inc. has a proven track record of developing mineral projects, and this transaction structure allows Taseko to participate in their success and create value from this asset in the near-term.”

Jeff Stibbard, CEO of JDS Energy & Mining Inc., stated, “As a mining development company, we are always in search of high-quality projects in safe jurisdictions, particularly in Canada. Harmony, which had been in Taseko’s inventory for two decades, is a mining project which fits very well within the JDS group. With our engineering, permitting and mine construction expertise, we believe we can advance this project and create significant value for all stakeholders.”

 

[firecracker74]

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[nofluff]

Yes!! This is great news. Totaly unexpected. 15% retention carried to production. This is a huge high grade system. I will guess a million plus per day at smelter. So tko gets about 100 thousand per day on 15%. 2% of 850 thousand per say is another 17 thousand. So at least 100 thousand per day. 36 million per year. Should b good for a buck or to on sp. Maybe 50 cents right now. I think we paid

[Cognition777]

I wonder what is in the works for selling Aley next. Bit of a catch 22 with that one as the resource is not as common as Copper or Gold... does that make it more attractive or less? I think Stuart is the right man at the helm for lucrative transactions, so maybe that was part of the thinking with the Russel shuffle.

[Fishbillion]

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[JoeStockIQ]

Once again, our Fishy friend is correct in his analysis. Taseko management will always find a way to make money for their friends and insiders. As always, the trick remains how to make money as an investor from the sidelines. 

[Cognition777]

FishyBill... Nay, I jest not. Hither I repeat my assertion; namely, that all such poppycock was baked into TKO in 2001 whence they knavishly succumed to witchcraft and wizardry in the name of Harmony. To wit, I remain steadfast in my declaration that the line at the bottom is to gain a stream of revenue which, negating the current sale of Harmony, all things would have remained as they have for 20

[JoeStockIQ]

Not so fast there Snuggles! A buck or two added to share price? Maybe 50 cents now? Mr. Market says no, no and no. Why? Look at the original terms of the deal. An undetermined amount of "tracking shares", convertible to Taseko common shares were / are the big mystery here. Again, look back to the initial deal in which RT was looking to make coin for himself down the road by switching the

[JCSunsfan]

How much cash are they getting right now, or do they get proceeds out of an IPO?  

[nofluff]

Suner. No cash now. Non from ipo. So we r not out anything until dilution agreement with old hdi corp. There were key numbers left out. At what point is there dilution? And how much. Us mushrooms would like to know. Market says, some good for tko. But mushrooms can do math. Just need numbers.  nf

[nofluff]

Both cmmc and cs up over 2%. Tko less than 2%. So market yawned at sale.  For sure this is good 4 managent. How good 4 sh remains to b seen. nf

[dcjones4396]

Hey NF, I'm not sure. Don't think anyone can be sure at this point. However, looking at the wording, it doesn't look great to me. Hopefully, one of the analysts will ask on the next conference call. Unless we get a substantial stream of funds, how can dilution ever be good for us mushrooms? As of now, can't say I like, appears to be another benefit to the insiders. Hope I'm

[nofluff]

Yah jonsey. The wording smacked of the former pee pee. On an event!!! So this sale dilutes us now???? How much??? And. Russ had nothing to do with this?? So 10.00 minimum redemption. We know no share numbers.  This is nuts. nf

[nofluff]

10.00 is 4 times market value. That going to happen now??? Where copper miner?? nf