https://www.mining.com/sojitz-to-sell-stake-in-gibraltar-copper-mine-to-taseko/ Taseko wouldn't buy back this 12% stake unless it was in their best interest. Their Japanese counter party likely wants to get out because it's not making the rate of return they desire and simply want to get it off their books. Fine, let them while taking that 12% back at favorable terms. The knee jerk reaction today is to sell the news, which on its face doesn't look good but Taseko management knows what the future holds for Gib production. So again, why not jump on the opportunity to clawback that 12% on the cheap? Guessing BB has to be coy in his replies to investors until their official reply is completed and management will have to do so soon. You do realize a certain portion of traders use events like this to make a quick buck on setting a swing, right? Sell today and buy back after the event plays out. Maybe it goes a bit lower from here but doubtful the current decline goes too much further.
Let's see how the next few Q production results and accompanying guidance reports shake out to see what's what but Florence remains the obvious focus and management is doing a nice job to ensure they have the build fully funded. And, in the end, Taseko gets 87% ownership of Gib at favorable pricing.