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Prosperity - One of the largest undeveloped copper-gold deposits in Canada
The Prosperity deposit is a gold-copper porphyry with a 1.0 billion tonne measured and indicated resource containing 5.3 billion pounds of copper and 13.3 million ounces of gold. At today's metal prices (US$1,000/ounce gold and US$3.15/pound copper) the project has a pre-tax net present value of C$3 billion and a 40% pre-tax internal rate of return.
Over the past four years, Taseko has significantly advanced the project, completing the feasibility study, and entering the Provincial and Federal Environmental Assessment process. Prosperity is a project that holds the potential to dramatically increase shareholder value. Development of this large-scale deposit will be a major step towards transforming Taseko into a mid-tier mining company.
Feasibility Study
In November 2009 Taseko updated the 2007 feasibility study using metal price assumptions which more accurately reflected long-term consensus views -- US$650/oz gold and US$1.65/lb copper. The increased reserves are based on a $5.50 NSR
Key project metrics include:
- 3.6 billion pounds of recoverable copper
- 7.7 million ounces of recoverable gold
- 33 year mine life at a milling rate of 70,000 tonnes/day
- Life of mine waste to ore strip ratio of 1.5
- Total pre-production capital cost of C$814 million
- Site operating cost of C$7.51 per tonne milled over the life of mine
- Total operating costs net of byproduct credits of US$0.59/lb copper
