April 15, 2013
April 15, 2013, Vancouver, BC - Taseko (TSX: TKO; NYSE MKT: TGB) (the “Company”) announces that it has recently added to its copper put option position at its 75% owned Gibraltar Mine. Put options were purchased for approximately 40% of Taseko’s share of production for the first quarter 2014 with a strike price of US$3.00 per pound, at a cost of less than US$0.14 per pound.
Since 2009, Taseko has maintained a strategy of purchasing adequate put options to cover the cash cost of production, or insuring a minimum quarterly revenue stream, without limiting upside copper pricing exposure. The Company has, and will continue to, opportunistically purchase put options during periods of copper pricing strength, which results in lower cost options. The purchase of these new options coincided with the timing of increased copper production from the newly commissioned concentrator.
Additionally, Taseko has put options in place for approximate 50% of its 2013 production at a strike price of US$3.00 per pound in the first half of the year and US$2.75 per pound in the second half.
Note: Gibraltar is a Joint Venture owned by Taseko Mines Limited (75%) and Cariboo Copper Corp. (25%). All production figures are reported on a 100% basis.
For further information on Taseko, please see the Company’s website www.tasekomines.com or contact:
Brian Bergot, Director, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
Russell Hallbauer President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.