- Taseko Talks
December 11, 2014
December 11, 2014, Vancouver, BC —Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) (“Taseko” or the “Company”) has copper put options in place to provide downside protection to the price of copper through June 30, 2015. For the first half 2015, the Company has put options in place to guarantee a floor price for 30 million pounds of production at a strike price of US$3.00 in the first quarter and US$2.90 in the second quarter.
Russell Hallbauer, President and CEO of Taseko, stated, “We initiated our hedging strategy in 2009 and are one of a small group of copper producers that have consistently hedged to ensure stability of cash flow during times of metal price volatility. Although there appears to be a lack of direction with the copper price as a result of macroeconomic issues, we believe in the longer-term fundamentals. With the weakening Canadian dollar, the Canadian dollar price of copper has remained stable over the past year and is approximately C$3.35 per pound today. With roughly 80% of our Gibraltar costs denominated in Canadian dollars, our US dollar hedging is advantageous to Taseko.”
For further information on Taseko, please see the Company’s website www.tasekomines.com or contact:
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
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.