3SOF

BUSINESS SUMMARY  
Taseko Mines Limited engages in the acquisition, ownership of, exploration, and related activities on mineral deposits in Canada. As of September 30, 2004, the company had interests in three projects located in British Columbia, Canada. These projects include Gibraltar copper-molybdenum mine, as well as the Prosperity Gold-Copper Project and the Harmony Gold Project. The Gibraltar copper-molybdenum mine area consists of 251 mineral claims, 30 mining leases, and certain real estates. The Prosperity Gold-Copper Project comprises 196 mineral claims. The Harmony Gold Project consisting of 970 claim units and 24,250 ha. located in British Columbia, Canada. Taseko Mines was incorporated in 1966 and is based in Vancouver, Canada.


----> High volume last session

We got some ESP going on here Terlisa !  :o
I was also looking at this one .
Applaud the pick.... :D


VANCOUVER, British Columbia, Dec 30, 2005 (BUSINESS WIRE) -- Taseko Mines Limited (TGB, Trade) announces its financial results for the Company's fiscal year ending September 30, 2005, including production and sales for the Gibraltar Mine located near Williams Lake in south-central British Columbia.

Overview & Highlights

Taseko had after tax earnings of $24.4 million, or $0.23 per share ($0.21 per share fully diluted) in the year ended September 30, 2005.

- The Gibraltar mine recorded revenues of $71.9 million from sales of copper concentrate, and $15.7 million was realized from sales of molybdenum. Revenue was recorded for nine months of commercial production ending September 30, 2005.

- The average price for sales of copper realized over the year was US$1.48 per pound and for molybdenum was US$31 per pound.

- Copper concentrate production for the year was 96,208 wet metric tonnes ("WMT"), or 54.8 million pounds of copper (93% of the forecast as revised at the end of the second quarter).

- Copper concentrate sales for the year were 77,695 WMT, or 44.3 million pounds of copper.

- An inventory of 18,258 WMT of copper concentrate, or 10.4 million pounds of copper, remained at year end, of which 14,500 WMT of inventory, or 8.3 million pounds of copper, was in a storage facility at the dock as there were no ships available at that time to transport it to smelters in Asia.

- Molybdenum in concentrate production during the year was 427,000 pounds (80% of the forecast as revised at the end of the second quarter).

- Molybdenum in concentrate sales over the year were 418,016 gross pounds.

- Molybdenum in concentrate inventory at year end was 9,000 pounds.

Results of 2005 Operations & Plans for 2006

Gibraltar Mine

The Gibraltar mine is operated under an agreement between Taseko's wholly owned subsidiary, Gibraltar Mines Ltd., and Ledcor CMI Ltd. The Gibraltar mine reopened in October 2004 as a copper producer with a 12-year mine plan. The first fiscal quarter was largely a restart period and commercial copper concentrate production commenced on January 1, 2005. After the completion of an upgrade to the molybdenum circuit near the end of the second fiscal quarter, the mine commenced molybdenum concentrate production.

All mining in fiscal 2005 took place in the Pollyanna stage 4 pit: 12.4 million tons of ore grading 0.314% copper was mined with 0.9 million tons in live inventory at year end and 11.5 million tons processed; an additional 2.2 million tons of low grade sulphide material and 2.0 million tons of oxide ore were stockpiled for later treatment. The mined tons and grade reconciles with the estimated reserve.

A reserve update was completed in December 2005, increasing the proven and probable reserves for Gibraltar as of October 1, 2005 by 30%, from 145 million tons to 194 million tons.

Further definition drilling and economic analyses will be undertaken in 2006 to upgrade additional resources to reserves. In parallel, studies are underway to consider the opportunity to expand mill production by 25%.

2005 Performance

As a result of the delay in commissioning the molybdenum circuit and lower than planned mill throughput, the Company updated its production forecast for the year at the end of the second quarter (March 31, 2005). The following table is a summary of the operating statistics for the year compared to this revised forecast.


--------------------------------------------------------------------- 
            Gibraltar Fiscal Year 2005 Production 
            October 1, 2004 to September 30, 2005 
--------------------------------------------------------------------- 
                     Actual    Revised  Variance            Comments 
                              Forecast 
--------------------------------------------------------------------- 
Ore + waste 
mined (tons)    39,992,000 41,658,000        -4%        Mining rate 
                                                  adversely impacted 
                                                      by unscheduled 
                                                      maintenance on 
                                                    the shovel fleet, 
                                                    as well as truck 
                                                        availability. 
--------------------------------------------------------------------- 
Ore milled 
(tons)          11,484,000 11,913,000        -4%         Lower mill 
                                                   throughput due to 
                                                        poor crusher 
                                                    availability and 
                                                    grinding circuit 
                                                        productivity. 
--------------------------------------------------------------------- 
Stripping 
ratio                 2.31       2.35        -2% 
--------------------------------------------------------------------- 
Copper 
grade (%)            0.314      0.306        +3% 
--------------------------------------------------------------------- 
Molybdenum 
grade (% MoS2)       0.017      0.016        +6% 
--------------------------------------------------------------------- 
Copper 
recovery (%)          76.2       80.4        -5%       Lower copper 
                                                     recovery due to 
                                                     ore variability 
                                                  and higher amounts 
                                                        of secondary 
                                                      mineralization 
                                                       than expected. 
--------------------------------------------------------------------- 
Molybdenum 
recovery (%)          23.1       35.2       -35%         Molybdenum 
                                                    recovery was low 
                                                  as the new circuit 
                                                     was established. 
--------------------------------------------------------------------- 
Copper 
production (lb) 54,785,347 58,600,000        -7%     Below forecast 
                                                      throughput and 
                                                            recovery. 
--------------------------------------------------------------------- 
Molybdenum 
production (lb)    427,059    541,000       -20%     Below forecast 
                                                      throughput and 
                                                            recovery. 
--------------------------------------------------------------------- 
----------------------------------------------------------------- 
                    Gibraltar Commercial Production 
                 January 1, 2005 to September 30, 2005 
----------------------------------------------------------------- 
Copper production (lb)                                 42,675,438 
----------------------------------------------------------------- 
Copper sales (lb)                                      39,584,722 
----------------------------------------------------------------- 
Molybdenum production (lb)                                427,059 
----------------------------------------------------------------- 
Molybdenum sales (gross lb)                               418,016 
----------------------------------------------------------------- 
Copper production costs, net of molybdenum, 
per lb of copper                                         US$0.87 
----------------------------------------------------------------- 
Treatment and transportation cost per lb of copper        US$0.28 
----------------------------------------------------------------- 
Total cash cost per lb of copper                          US$1.15 
----------------------------------------------------------------- 

There was no time loss accidents during the year ended September 30, 2005. At the end of the fiscal year, the Gibraltar operation employed 248 people.

Mineral Reserves

A detailed review of the geological model, confirmation of pit wall locations established in previous mine optimization studies, and an analysis of current price and mining cost projections allowed for expansion of the previously defined pits, specifically, at the PGE Connector and Granite Lake deposits. As a result, the overall proven and probable reserves increased by 30%, from 149 million tons remaining after production to September 30, 2005, to 194 million tons (Taseko News Release dated December 12, 2005). The additional mine production and scheduling plans, although developed, have not yet been formalized and approved by the board of directors.

Further definition drilling and economic analysis will be undertaken in 2006 with the objective of upgrading additional resources into the reserve category. The drilling program will be focused on defining this resource between the existing pits and tying together the extensive mineralization zones. In anticipation of a further increase in the mineral reserves, an engineering study has been initiated to evaluate the economics of expanding the mill production rate by 25%. This would include an assessment of the capital investment required to increase grinding and flotation capacities and the fleet of mining equipment.

Refinery Update

Feasibility level studies were completed in 2002 to assess the viability of constructing a copper refinery at Gibraltar, based on a hydrometallurgical process developed by Cominco Engineering Services Ltd. A refinery located at Gibraltar would produce cathode copper from copper concentrate at the site rather than sending these concentrates to an overseas smelter for treatment, which would result in an estimated operating cost saving to Gibraltar of US$0.20/lb of copper produced.

With mining operations now underway at Gibraltar, mine technical personnel have been re-assessing the refinery project. An updated refinery feasibility study is expected to be completed in the near term, but the immediate focus is to increase the reserves and evaluate expanding the mill as these will affect the refinery project's economics. The British Columbia Environmental Assessment ("BCEA") Office has advised Taseko that the proposed refinery would not be reviewable under the BCEA Act because the refining process would be integrated with ore milling operations of the fully permitted Gibraltar mine.

Production Forecast for Fiscal 2006

The forecasted copper and molybdenum production for 2006 are 60.1 million pounds and 874,000 pounds, respectively. The forecast by quarter is as follows:


--------------------------------------------------------------------- 
                               Q1      Q2     Q3       Q4  Total 2006 
--------------------------------------------------------------------- 
Copper (millions lb)         13.4    15.2    15.7    15.8        60.1 
--------------------------------------------------------------------- 
Molybdenum (thousands lb)     200     220     227     227         874 
--------------------------------------------------------------------- 
Copper production costs, 
net of molybdenum 
credits(i), per lb of 
copper                   US$1.03 US$0.81 US$0.81 US$0.80     US$0.83 
--------------------------------------------------------------------- 
OPC transport & treatment 
per lb of copper         US$0.30 US$0.34 US$0.34 US$0.34     US$0.34 
--------------------------------------------------------------------- 
Total cash costs of 
production per lb of 
copper                   US$1.33 US$1.15 US$1.15 US$1.14     US$1.17 
--------------------------------------------------------------------- 
(i)Excludes mining equipment lease costs but includes contractor 
overhead costs 
Off Property Costs ("OPC") are concentrate transportation, smelting 
and refining costs 

The forecast production cost for 2006 is based on a molybdenum sales price of US$20 per pound (molybdenum credit); an increase in copper treatment costs of US$0.06 per pound as per the treatment contract schedule; re-scheduling of pit production including additional costs for stripping; and higher estimated input costs.

Prosperity Project

In November 2005, work was re-initiated on the Prosperity Copper-Gold Project. Taseko holds a 100% interest in the Prosperity property, which encompasses 196 mineral claims covering approximately 85 square kilometres, located 125 kilometres southwest of the City of Williams Lake in south-central British Columbia. The property hosts a large porphyry copper-gold deposit amenable to large-scale open pit mining.

Taseko carried out extensive exploration, engineering, mine planning, environmental, and socio-economic studies on the Prosperity project prior to 2001, including two years in the British Columbia Environmental Assessment ("BCEA") process. In 2005, Taseko was granted an extension order for the Prosperity Project Application under the BCEA process until April 30, 2007.

Taseko technical staff are currently reviewing previous feasibility studies and re-assessing the project economics based on new technologies, concepts, and innovative approaches to mine development. This includes re-examining optimal mining rates and mining equipment size, analyzing the economics of constructing and operating a single line mill rather than multiple smaller lines, and evaluating the potential improvements which could be realized with state-of-the-art metallurgical technologies such as large tank flotation circuits and expert computerized mill control systems. The Company is also reassessing major infrastructure plans, such as the power-line route, to determine if there are synergies to be achieved with the other communities of interest in the area.

Financial Results

Taseko had after-tax earnings of $24.4 million, or $0.23 per share ($0.21 per share fully diluted(1) in the year ended September 30, 2005 compared to a loss of $81.4 million, or $1.09 per share, in fiscal 2004.

Earnings in 2005 also include pre-tax earnings of $6.8 million and current and future tax recoveries of $4.1 million and $13.4 million, respectively, compared to $23.7 million of tax expense in fiscal 2004.

Gibraltar recorded revenues of $71.9 million from sales of copper concentrate, and $15.7 million was realized from sales of molybdenum. Revenue was recorded for nine months of commercial production ending September 30, 2005.

Total production costs for the year were $57.8 million. Costs of production include $33.8 million for mining; $23.4 million for milling; $5.7 million for mine administration; $0.3 million in royalties; and $2.4 million for molybdenum treatment expenses. This also includes a reduction of $7.8 million related to a build up of copper concentrate inventory. Total treatment, refining and transportation costs for the year were $13.5 million. Amortization expense was $2.7 million.

Additional information is provided in Taseko's Management Discussion and Analysis and Financial Statements for the fiscal year ended September 30, 2005. Download these documents from the Company's website www.tasekomines.com or from www.sedar.com.

Russell Hallbauer, President and CEO

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained gold, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

(1) Diluted earnings (loss) per share is calculated using the treasury stock method. Under the treasury stock method, the weighted average number of common shares outstanding used for the calculation of diluted earnings per share includes the underlying common shares to the tracking preferred shares and convertible debenture on an if-converted basis and assumes that the proceeds to be received on the exercise of dilutive share options and warrants are used to repurchase common shares at the average market price during the period.

The TSX Venture Exchange and the American Stock Exchange have not approved or disapproved of the contents of this press release.

Taseko Mines Limited (TGB, Trade)

SOURCE: Taseko Mines Limited


Taseko Mines Limited 
Shawn Wallace 
Investor Services 
(604) 684-6365 or Toll Free: 1-800-667-2114 
Fax: (604) 684-8092 
www.tasekomines.com 

Copyright Business Wire 2005

Quote from: setravis on January 02, 2006, 11:10:14 PM
We got some ESP going on here Terlisa !  :o
I was also looking at this one .
Applaud the pick.... :D

This may be a good sign for us this NEW YEAR... ;) :D ;D

Nice Terlisa ! Applaud........ ;D
From looking at this chart, IMHO
This one had an Ascending Triangle (continuation) Pattern...."Breakout" !

Technicals
Last Price Quote is:
27.23%above 13-day EMA
34.61%above 50-day EMA

Good day!!!! up 14.75% ;) :D ;D

--- Volume is increasing
--- Bounce from 38.2 Fibonacci Retracement
--- Revenue is going up ;)

***TGB in the making*** ----- just like EGO, http://www.3stocksonfire.org/trading/index.php?topic=3906.0

As i look deeper on the chart of TGB, i get more excited ;) so i bought back my shares today ;)
I have bought TGB couple weeks ago & sold it before the pullback & now it's coming back with more higher volume (record volume) ;) :D ;D

--- The company's cash & revenue has increased
--- & the total Cash from operations decreasing


A rectangle is a chart pattern that contains price movements between two parallel lines. they usually horizontal but can sometimes slant up or down. You need at least four points to draw a rectangle: the upper line connects two rally tops, and the lower line connects two bottoms. these lines should be drawn through the edges of congestion areas rather than across the extreme highs and lows.

As you can see from the chart below, Bulls obviously won the battle within the Slant Down rectangle pattern & back by high volume... I believe TGB will make new highs in the coming days & weeks ;) GOODLUCK!!!!

Nice pick Terlisa........Chart continues to look good and gold is up tonight $4.00..........

I jumped in at $1.50

Business: TASEKO MINES LTD, (TGB) explores and develops the 100% owned Prosperity Gold-Copper Project, consisting of 196 mineral claim and 9 placer claims, is one of the largest untapped metal resources in the world and contains in excess of 9.5 million ounces of gold and 3.

Quote from: Holygrale on January 22, 2006, 11:22:34 PM
Nice pick Terlisa........Chart continues to look good and gold is up tonight $4.00..........

I jumped in at $1.50

You did the right thing Holygrale, I hope both of us will make good money from this growing company ;) goodluck to you!!

Chart Update:
I hope i'm right with my analysis on this one.
I will stop my loss if it will trade @ 1.35 ;) :D

Breaking out......

Next leg up............

Quote from: Holygrale on January 25, 2006, 11:02:29 AM
Breaking out......

Next leg up............

Ohh yeah.... keep on holding Holygrale, TGB is just starting. Goodluck :) ;) :D

Ohh yeah.... keep on holding Holygrale, TGB is just starting. Goodluck :) ;) :D

Quote

Still Lonnngggggg plenty of shares.......... ;D

3 out of last 8 days over million shares traded.
Gold experts or aka "junkies" predicting Gold to run to $610 especially if SIlver can continue it's uptrend on this run.

Chart looks good too.




 

TGB re-fresh the 52 week high with high volume... close today @ 1.65 ;)

This is showing pure strength........You gotta love that!  ;D

Closed near HOD.

Message from Yahoo Board
by: elgounatimes

Hi everybody, I'm a Belgian (small country in Europe) stockholder of TGB.
Owned it a few years ago - bought at CAD 2,40 and sold at 1,60 - so made some loss.

But things have changed dramatically since that period.

Copper prices rocketed from 1,30lb to 2,23lb

During September, October got back into this stock. Why!!! Because it was just "so cheap".

There are some good posters on this board, I'm already reading your comments for several months. I'm also on the Stockhouse TKO board, but seems to me all posters went to this board!!

I want to add my espectations regarding earnings 2006.
2006 will be huge !!!
It's true copper prices increased a lot since Oct.1 - till todays prices of 2,23lb !!
This also means we haven't seen this nice results in the books of TGB yet.
Q1 is already great - Q2 even greater - and if Copper price is still at these levels and of March 06, Q3 much greater.
Why? At the time of shipping, they hedge their copper, but earnings will be received about 3 months later so..... March + 3months = end of June = end of Q3 ..... Just one quarter to hold those prices and the FULL YEAR will be just fantastic.
I'm talking about earnings of about O,40-0,50USD.
This will be their full year of production!!! All is about in line, moly recup. much better then '05 and higher production quantity also!!

Costs have rised, but still are under control!
'05 Cost = 1,05 Copper Price = 1,45 (0,40)
'06 Cost = 1,17 Copper Price = 1,97 (0,80)

These simplified figures just implicate profit will be doubled .... but price of Copper is even better!!!

Just keep it simple - look at the copper price and full production and money is flowing into the company....... E/S = 4 and still no taxes to be paid !!!


So I'm holding all my stocks just because we're going to see new highs on this one.
I believe Russell Hallbauer will lift this company to a much higher level.

hey Terlisa.. I already applauded you for this pick because it is really a nice looking chart.  :)  Gotta applaud again for all the great info and charting.  I wanted to point out CUP to you.  Another nice copper play with a pretty chart.

Quote from: eliteG on January 29, 2006, 10:24:57 PM
hey Terlisa.. I already applauded you for this pick because it is really a nice looking chart.  :)  Gotta applaud again for all the great info and charting.  I wanted to point out CUP to you.  Another nice copper play with a pretty chart.

Nice to see you on this thread EliteG, Cheers!! :D

Copper price to keep pumping this year & the coming years as China & India's economic expansion is continuing at a very rapid pace , read the article:
http://www.miningmx.com/mining_fin/843425.htm

I'm watching @ level 2 riight now.... looks like TGB will close @ HOD ... WOW is that a big blocks right there 1 minute before the close? ;)

Quote from: Terlisa on January 30, 2006, 04:00:21 PM
I'm watching @ level 2 riight now.... looks like TGB will close @ HOD ... WOW is that a big blocks right there 1 minute before the close ;)

And it did ...nice, nice ;) :D ;D

Terlisa, thanks again for the chart...........

This one is having some serious Accumulation ............

Hi, Terlisa, TGB is still a good buy at this leave? you think how high will go? would please help me. thanks.

I too am interested in Terlisas thoughts...........

With all these analyst predicting $600 ounce +.................

I think we can take out the Feb high of 2004' of $2.30.............

Here are some predictions..........

http://www.321gold.com/editorials/waltzek/waltzek013006.html

Guru Predictions

Our guru for the week, the investment bank J.P. Morgan, is expecting much higher gold prices ahead:

"J.P. Morgan sees gold near $600/oz by year-end
LONDON (Reuters) -Gold prices may reach almost $600 an ounce by the end of the year on supply worries, firming jewellery demand, geo-political concerns and favourable currency environment, J.P. Morgan Securities said in a report on Monday.

Prices might even jump to $800 from $556 now, if Iran's nuclear issue heated up and oil hit $100 a barrel, it said. Oil prices are currently ruling at around $68.

"For gold, event risks are surfacing at a time when mining supply was already inadequate and jewellery demand firming. Fundamentals alone justify prices near $600 by year-end, while a meltdown in Iran/spike in crude could see $800 gold," it said."

Our next batch of gold pundit forecasts is brought to us by, Nicola Mawson:

"Predictions for gold's high price this year range from $760/oz to $580/oz, while its low is seen at between $520,75/oz and $425/oz.

Analysts put its average at anywhere between $618/oz and $479/oz.

Top of the log is TheBullion Desk.com analyst, Ross Norman, who made it to the shortlist for last year's winning prediction. He expects the gold price to peak at $760/oz and average at over $600/oz, but comments that 2006 was the toughest year to predict for in a generation.

Quote from: camaaron on January 30, 2006, 10:53:31 PM
Hi, Terlisa, TGB is still a good buy at this leave? you think how high will go? would please help me. thanks.

Hello camaaron, I'm not really sure how high TGB will go there is no certainty in the market.
As Holygrale said the stock is having some serious accumulation.

For me, TGB's chart is beautiful & bullish @ this point, i'll hold TGB ;)
I think David will make an analysis on TGB in the morning, i hope so, i wanna know what his take for this stock. GOODLUCK!! ;) :D


PS. thanks for the post Holygrale ;)

I've made the following analysis on TGB yesterday:

«1. Profile

Taseko Mines Limited (TGB). The Group's principal activities are to explore the Prosperity Gold-Copper Property and operate the Gibraltar Copper Mine. These properties are situated in south central British Columbia, Canada.

A hot sector with gold at 25 year highs.

2. Technical Analysis

2.1. Long Term Chart

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14341;image)

TGB hasn't been around for long. That can be a plus, perhaps there's value hidden on this mining stock.

2.2. Medium Term Chart

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14342;image)

TGB is up 80% since mid December, on volume above average. The trend is bullish.

2.3. Short Term Chart

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14344;image)

Over the short term chart we can see that the stock opened gap up today. There isn't one single opened gap since the rise began. Volume today is quite high for the time of the day, so maybe the stock is building a short term top here.

A correction would be welcome. If fundamentals are attractive I may use the correction to buy around support. We'll see ...

3. Fundamental Analysis

3.1. Number of Shares Outstanding

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14343;image)

After all TGB has been around for much longer than I thought. My fundamental data goes all the way back to 1994, despite my Metastock chart only goes back to November 2004. What happened?

Looking at their latest Form 20 F/A, I see the company was formed in 1966 and it is a Canadian company. The company owns some mining related properties.

Well, I see the company massively selling shares in the open market to finance operations.

3.2. Working Capital

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14350;image)

The company has some working capital, despite the very low current ratio. Assets are $114M and Liabilities are $95M.

3.3. Revenues

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14351;image)

Wow, what happened in 2005? The company reported $87.6M in revenues for the first 3 quarters, which annualized gives me the $116.8M you see on the chart. After decades of zero in revenues and substantial losses, 2005 seems to be a blockbuster year for TGB. The mines seem to finally start producing copper and gold. Let us see some more about TGB, this is getting interesting  :)

At first sight the market cap seems to be about $185M (in MarketWatch and Yahoo), so $116.8M in revenues is quite a number.

3.4. Net Income

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14352;image)

We may have about $32.5M in profits in 2005. If the market cap is really $187M, the earnings multiple is 5.75, which is extraordinarily cheap for a mining company.

3.5. Competition

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=14353;image)

This competition table shows TGB might be severely undervalued at this point.

4. General Overview

All right, what we have here is a mining company almost without operations until 2005 and then a sudden and aggressive ramp up in production. The first thing I want to see is if the market cap is correct at MarketWatch and Yahoo, which may be a bit hard because since the company is a Canadian company, it doesn't report 10-Q Forms.

I may use this to make a calculus on the number of shares outstanding:

«Taseko had after tax earnings of $24.4 million, or $0.23 per share ($0.21 per share fully diluted) in the year ended September 30, 2005.»

So, on a fully diluted basis, we have $24.4 million/$0.21 = 116.19 million shares outstanding. Given this, the current market cap is 116.19M*$1.76 = $204.49M (probably the company sold some more shares between September 30th and now. Say the number of outstanding shares is now 125 million, the market cap is $220M).

Still, the earnings multiple is something like $220M/$32.5M = 6.77, very cheap indeed.

Digging a bit further I see that TGB doesn't mine gold, it mines copper and molybdenum (whatever that is  ;D).

About the Gibraltar mine (in Columbia, Canada): «The Gibraltar mine reopened in October 2004 as a copper producer with a 12-year mine plan. The first fiscal quarter was largely a restart period and commercial copper concentrate production commenced on January 1, 2005. After the completion of an upgrade to the molybdenum circuit near the end of the second fiscal quarter, the mine commenced molybdenum concentrate production.»

And there's more: «In November 2005, work was re-initiated on the Prosperity Copper-Gold Project. Taseko holds a 100% interest in the Prosperity property, which encompasses 196 mineral claims covering approximately 85 square kilometres, located 125 kilometres southwest of the City of Williams Lake in south-central British Columbia. The property hosts a large porphyry copper-gold deposit amenable to large-scale open pit mining.»»

Now, the stock closed that gap during yesterday's session (the low was $1.75, and previous day's high was $1.74, so no gap).

As said in the text, TGB seems to be severely undervalued at this point, and prospects are great and solid. The market cap is just about $220M. The trend on the chart is very bullish.

There's no reason to be afraid on buying this stock after such a run up, if there's some sort of correction fundamentals will support the price. The upside is monumental.

I'll buy TGB for the Stocks on Fire Portfolio around today's open, 10% of capital.

As a community we're here to help each other through our experiences. I'm not taking issue with the TA timing of this trade or most of the fundamentals stated here but I want to relate what I know are some of the fundamental issues facing this company. First you need to know that I bought this stock in Dec 04 at 1.52 based on many fundamental issues. the two most important being the upward trend in both copper and Moly. I was right in that assesment as both prices have continued to go higher. But, Tgb had too many internal problems to get these price increases to the bottom line related to investors outlook. I doubled up on the stock in Jan of 05 at .92 and as you can see 05 was a long year until Dec. I sold 1/3 of my position at 1.55. You can only imagine how Terilisa brightened my day when he started talking about this stock on Jan 2. I would be selling another 1/3 right here but will treat my remaing position as though I entered today with DR. Now for some concerns I think we all should think about. 1. Troubles with the costs related to their copper revs. They are currently in the lowest grade in the Gibralter deposits. The CU grade is under .30%. 2. all related mining costs are inflating. 3. Lease costs of equipment continue to increase cost of production. 4. The Prosperity project is only open for a new look at the feasibility study and permitting process. 5. Company's take on Q1 reported that earnings will be FULLY TAXED. 6. In fiscal 06 production costs are expected to rise to 1.15 vs 1.02, smelter rates are going up by contract. Transportation and smelter costs are est. to be .34cents for 06 vs .25 cents. 7. It appears they may get a .04-.05 cent reduction in cost from an accounting change regarding equipment leases, change from operating lease to capital lease.These are fundamentals I am watching.
Now from BI research, a news letter that first recommended this stock in 2000. They look for fully taxed earnings for 06 to be between .16-.28
untaxed earnings for 06 to be between .23-.40
cashflow between .27-.45  upper range depends on metal prices near current levels. lower level using company's $20 Moly price and 1.80 CU
They believe fully taxed earnings will command a higher multiple. They are waiting    the reworked numbers for Prosperity.
Hope you can see I like this company almost like a child that has had a bad year and is now starting to listen to me. Just know that DR  only had a day to put out his thoughts,hope this adds to everybody ability to better understand this company.

David, nice to see a Canadian Pick. Canada has a lot of interesting stocks and it is actually easier to find real undervalued Gems here than in US.

Quote from: 1reilly on February 01, 2006, 11:08:47 AM
As a community we're here to help each other through our experiences.

Reilly,

So true! Input like yours are one of the main reasons why 3SOF is a nice place to hang around!

I am reading Taseko's annual report and can see that they had 10.5 million in interest and other income in 2005. Do you know from where (Red Mile)?

US has Edgar. Canada has Sedar: http://www.sedar.com/search/search_form_pc_en.htm

Different names but Sedar has everything an Edgar junkie can dream about!

Mike

year end summarization:

http://www.knobias.com/individual/public/news.htm?eid=3.1.a95c94945226a8845aaaca151d70581d207ede115be1a694504eee4519367e45

Quote
Canada has a lot of interesting stocks and it is actually easier to find real undervalued Gems here than in US.

Hi Michael, i am glad that u like canadian stocks, as most of my money is still in canadian market.  :D
What do u think of the recent bull run in canada? do u think it will last?
Can you share some of your undervalued gems here?
I am holding a basket of income trusts, such as, PWT.UN , PD.UN, TDG.UN, PMT.UN, BFC.UN, ARF.UN, PGX.UN, FET.UN, SQP.UN , YLO.UN.  They pay 7%- 12% dividend, and have reasonable growth too.   Income trusts should be quite stable now after the election.
Also i hold some big cap names such as PCA (petro canada, very undervalued), ECA, TD.
and some small names in UTS, IE, MSV.V, RFM.V, and bought TKO.V on david's recommendation too.
up more than 10% so far this year, i am trimming my positions in energy into strength lately.
Hey , did u see how much SU had run since last time we talked about it? i am banging my head for not getting in ... haha .. oh well

What canadian stocks do u hold?

Thanks Mike.

Good luck!

Michael
I'm not sure where the 10.5mil came from. However, I do know that they had 4mil warrants outstanding, expiring on 12/31/05. My guess is that most of these warrants were exercised in Q4. I don't remember the terms but this would be accounted as other income. One good thing here is that going into the final days of those warrant's expiration the stock rallied about 22% in the last 2 weeks of Dec 05. Also the company has been building cash since mid year for a refinery if the economic study currently underway agrees.Also since I know you follow this industry people were very impressed with the hiring of Russell Hallbauer as Pres and CEO. He came from Teck Cominco.

Hi, folks,

David, TGB is an excellent pick!  Gold ( and precious metals, in general ) has just entered what is called the investment phase of the bull market...Copper is getting so expensive that copper flashing on buildings roofs will soon be stolen for scrap value - I go way back & remember these days, long-long ago.

Anyway, tomorrow ( yes tomorrow, believe it or not ) should see the Dow slice upwards thru 11,000 & head towards 11,500.  This event will be extremely bullish for the Dow theorists & confirm the Dow transports legitimacy in their recent new highs ( all time new highs, by the bye )

good trading to all!

willey

Molybdenum characteristics...<<Molybdenum (Mo) is a refractory metallic element used principally as an alloying agent in steel, cast iron, and superalloys to enhance hardenability, strength, toughness, and wear and corrosion resistance.   To achieve desired metallurgical properties, molybdenum, primarily in the form of molybdic oxide or ferromolybdenum, is frequently used in combination with or added to chromium, columbium (niobium), manganese, nickel, tungsten, or other alloy metals.   The versatility of molybdenum in enhancing a variety of alloy properties has ensured it a significant role in contemporary industrial technology, which increasingly requires materials that are serviceable under high stress, expanded temperature ranges, and highly corrosive environments.   Moreover, molybdenum finds significant usage as a refractory metal in numerous chemical applications, including catalysts, lubricants, and pigments.   Few of molybdenum's uses have acceptable substitutions.>>

This material is often used in special grease for CV joints in vehicles

I will take profit tomorrow, TGB looks toppy here, maybe... Smoothed ROC is telling me to take profit.. maybe i'm wrong but i'll take it anyway ;)

BI Research issued an updated earnings scenerio last night based on the fact that copper is now $2.25 apound for delivery this quarter and the 2 year out contract for Feb 07 has rallied to $2.02. Also Moly rallied $2.00 last week to $25. He has given that the first quarter will not be good and is only concerned with fiscal 06 year end numbers. His 06 scenerio if copper stays at current levels :
US .44cents before tax earnings       Canadian .52
US .31cents after tax earnings          Canadian .36
US .50cents cashflow per share         Canadian .57

Believes a 6 multiple is fair
States that more warrants expired on Jan 8th 06.
Cautions that there are warrants in excess of the 4 mil Dec warrants expiring in Sept 06.
States that stock is being listed on the senior Toronto Stock Exchange making it more attractive to Institutional accounts that avoid the lower exchanges
Recommends his subscribers take another 15% off the table at $2.00 (remember he's been in this stock since 2000) still holds 50%.
reminds that Prosperity business is years away, but might add to the multiple anyway.
Hope this helps

With this kind of information, soon I'll be paying you guys to get your analysis  ;D

1reilly, that's great info you got there, on both your posts (applaud). What I find strange is, for someone holding the stock for so long, why sell with a small profit, now that the market is finally perceiving the value of TGB? (now that the company started producing real revenues and profits, of course, until then it was just another shut down mining company with promises).

Quote from: 1reilly on February 02, 2006, 05:44:50 AM
BI Research issued an updated earnings scenerio last night based on the fact that copper is now $2.25 apound for delivery this quarter and the 2 year out contract for Feb 07 has rallied to $2.02. Also Moly rallied $2.00 last week to $25. He has given that the first quarter will not be good and is only concerned with fiscal 06 year end numbers. His 06 scenario if copper stays at current levels :
US .44cents before tax earnings Canadian .52
US .31cents after tax earnings Canadian .36
US .50cents cashflow per share Canadian .57

Believes a 6 multiple is fair
States that more warrants expired on Jan 8th 06.
Cautions that there are warrants in excess of the 4 mil Dec warrants expiring in Sept 06.
States that stock is being listed on the senior Toronto Stock Exchange making it more attractive to Institutional accounts that avoid the lower exchanges
Recommends his subscribers take another 15% off the table at $2.00 (remember he's been in this stock since 2000) still holds 50%.
reminds that Prosperity business is years away, but might add to the multiple anyway.
Hope this helps

Thanks for the numbers, great research. But, explain to me like I'm 6 years old (hahaha, saw that movie recently), howcome an earnings multiple of 6 is fair??  ???

The industry has an average 68.4 earnings multiple  :o

TGB stock held quite well, despite the overbought condition and the gap up on the day I bought at $1.82. I believe there's only one way for TGB, which is up.

I'll continue holding TGB for the foreseeable future.

David
Your first question, "After holding for so long why sell for a small profit" I can answer. He averaged down on this stock twice. Aug 2000 averaged down at 1.00 and then again at .30 in May 2002. This is unusual for him . In reality he is only trimming back to his one unit. Now the multiple question I can't speculate why he has chosen 6. I'll ask him and get back to you.
Mike

Quote from: Terlisa on February 02, 2006, 01:40:04 AM
I will take profit tomorrow, TGB looks toppy here, maybe... Smoothed ROC is telling me to take profit.. maybe i'm wrong but i'll take it anyway ;)

I think i'm wrong.. TGB broke the resistance @ 1.85.. putting me @ #4 for the contest ;D

Bearish Technicals:
-- Smoothed ROC is ready turn down
-- Directional Sytem is overheating

Maybe TGB wants to rock some more ;) we will see....

I think i'm wrong.. TGB broke the resistance @ 1.85.. putting me @ #4 for the contest ;D


Terlisa, I jumped out to on wednesday, but if you win the contest without having a "position" now that would would be tooooo funny.......

Quote from: 1reilly on February 03, 2006, 08:03:14 AM
David
Your first question, "After holding for so long why sell for a small profit" I can answer. He averaged down on this stock twice. Aug 2000 averaged down at 1.00 and then again at .30 in May 2002. This is unusual for him . In reality he is only trimming back to his one unit. Now the multiple question I can't speculate why he has chosen 6. I'll ask him and get back to you.
Mike

Thanks 1reilly  :)

I'll continue holding TGB.

Looking perfect this morning, just broke $2.00.   :)

Great pick. I am out @ 2.00. switch to EZM

more room to grow.. too bad i sold it early ;)

It looks like the investment adviser 1reilly reads sold 15% of his position in TGB at $2, yesterday's closing price: «Recommends his subscribers take another 15% off the table at $2.00 (remember he's been in this stock since 2000) still holds 50%.»

That's ok. With the current copper price (by the way, copper made a new all time high today) he expects 31 cents of profit per share in 2006. With the current share price at $2, that is a 6.45 multiple, extremely low !

Its industry average earnings multiple is 64 (because strong growth is expected in mining stocks, due to very high commodity prices). If TGB were to get to the average sector earnings multiple it would be a 64/6.45 = 9.92*$2 = $19.84 stock  :o

Absolutely no reason to sell here, I'll continue holding TGB.

Unfortunately stocks don't go up in a straight line and TGB had a sharp corrective day yesterday. The stock touched its ascending trendline (TL1 on the chart below) and then recovered some ground.

TGB has just start production again, after many years of interruption. So, this play is not only on the copper, molybdenum or gold prices, it is also and pretty much an increasing production play.

What happened with commodity prices yesterday in the US and today in Australia and Europe doesn't matter all that much to my trade in TGB.

I'll continue holding the stock.

TGB touched TL1 again and rebounded nicely  :)

The company will present results on February 14: Taseko First Quarter Fiscal 2006 Earnings Release (http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BEE269BD4%2DB34D%2D4816%2DA7AF%2DDF8786DBC248%7D&siteid=mktw&sid=8777&symb=)

There are no analyst's covering the stock, but if we consider what copper prices have done during the quarter  :o (copper futures chart below).

Considering the company made about $21.4M in profits in the 3rd quarter (calendar year), and average copper prices increased by about 12% during the 4th quarter (they are 24% higher now than in September 30th), I would say this company will earn about $24M in this quarter  :o

Annualize that and you get $96M a year, and about $230M in market cap  :o

My previous estimates were wrong, I made a calculus mistake, TGB is even more undervalued than I thought. No doubt I'll continue holding the stock.

I'll study it deeper during the weekend and perhaps consider it for the Long Term on Fire Portfolio.

Yesterday I said this:

QuoteMy previous estimates were wrong, I made a calculus mistake, TGB is even more undervalued than I thought. No doubt I'll continue holding the stock.

Now let me explain what happened. On the initial analysis I wrote:

QuoteSo, on a fully diluted basis, we have $24.4 million/$0.21 = 116.19 million shares outstanding. Given this, the current market cap is 116.19M*$1.76 = $204.49M (probably the company sold some more shares between September 30th and now. Say the number of outstanding shares is now 125 million, the market cap is $220M).

Still, the earnings multiple is something like $220M/$32.5M = 6.77, very cheap indeed.

I thought the company earned $24.4M for the nine months ending September 30th, but now I see that it was for the full 2005 fiscal year, that started on the 1st of October 2004 instead of the usual 1st of January 2005. Then I annualized the $24.4M to come up with $32.5M for the full year.

At first sight it looks like I was overestimating net income, but the fiscal 1st quarter was a losing quarter for the company ! So, for the last 4 quarters, TGB lost $4M in Q1, lost $1M in Q2, earned $8M in Q3 and earned $21.4M in Q4. Considering 12% growth in copper prices in the 4th quarter of 2005 (fiscal 1st quarter in 2006 for the company), TGB may report $23.97M in net income when it reports earnings next Tuesday.

If you annualize these $23.97M you get $95.87M for the full fiscal 2006, and this is without any growth ! Considering the market cap is about 125 million*$2.02 = $252.5M, the earnings multiple is 2.63 and TGB is probably the cheapest stock on the street.

If there is growth TGB can be a 20 or 30 bagger from current levels. I need to buy it for the Long Term on Fire Portfolio also.

I will buy TGB with a long term perspective around today's open, $10,000 of stock. The justification is on the first page of this thread (http://www.3stocksonfire.org/trading/index.php?topic=4456.0) on the Stocks on Fire Message Board.

With the addition of TGB, 6 of the 10 Long Term slots are accounted for. That is all fine and well at first glance, but when you consider the LT portfolio has been in existence for less than a month and that the target timeframe for holding a stock in the LT portfolio is 2+ years, the portfolio is filling up very fast. If the LT port is full by mid-March, I am curious what you will do when you find a gem of a stock after that?

Quote from: Lucas Scott on February 10, 2006, 03:59:59 PM
With the addition of TGB, 6 of the 10 Long Term slots are accounted for. That is all fine and well at first glance, but when you consider the LT portfolio has been in existence for less than a month and that the target timeframe for holding a stock in the LT portfolio is 2+ years, the portfolio is filling up very fast. If the LT port is full by mid-March, I am curious what you will do when you find a gem of a stock after that?

Good question Lucas Scott  :)

Even on a long term portfolio, since capital is obviously limited, one should consider the opportunity cost of holding a stock. Probably in the future I will hold 10 different stocks on the Long Term on Fire Portfolio, which is the maximum allowed.

But, if I find a stock even more attractive than the ones I hold, I will sell the less attractive of them to release capital to buy the new one. What do you think of this strategy?

I bought TGB at $2 on Friday, the high of the day  :-[

But this is only the most attractive stock I've ever seen on the market. If we annualize the 3nd quarter net income, we get an earnings multiple for the stock of 2.26. And earnings are growing rapidly, as copper prices increased 38% over the last 6 months.

Copper mines are an awesome opportunity at this point of time in the market. Gold stocks rose a lot because the base metal was rising on a long term basis, but nobody paid attention to copper, which rose even more ! This way, copper related stocks are extremely undervalued relative to its gold peers (or on absolute terms), and that doesn't make any sense, since copper is outperforming gold !

This is as close as it gets from a sure thing in the stock market. Just buy and hold TGB for a 10 or 20 fold long term rise.

I'm thinking the earnings will be about 8 cents this qtr and 12 cents each qtr thereafter. If they sell 13.4 milion @ an average profit of .67 cents ($2 sale price - $1.33 cost = .67) then that would be $9 million (roughly 9 cents before taxes). Any thoughts on this?



Below is an excerpt from the Dec 05 earnings report:

The forecasted copper and molybdenum production for 2006 are 60.1 million pounds and 874,000 pounds, respectively. The forecast by quarter is as follows:

---------------------------------------------------------------------
                                  Q1       Q2     Q3       Q4  Total 2006
---------------------------------------------------------------------
Copper (millions lb)         13.4     15.2    15.7    15.8        60.1
---------------------------------------------------------------------
Molybdenum (thousands lb)     200     220     227     227         874
---------------------------------------------------------------------
Copper production costs,
net of molybdenum
credits(i), per lb of
copper                        US$1.03 US$0.81 US$0.81 US$0.80     US$0.83
---------------------------------------------------------------------
OPC transport & treatment
per lb of copper          US$0.30 US$0.34 US$0.34 US$0.34     US$0.34
---------------------------------------------------------------------
Total cash costs of
production per lb of
copper                      US$1.33 US$1.15 US$1.15 US$1.14     US$1.17
---------------------------------------------------------------------

Hi David,

Nice to see that an old industry has found its way into the long term portfolio. Even a very old industry  ;)

Now when that is said I also have to say that I disagree in the pick for this portfolio.

Copper has had a great run based on a surge in demand mainly from Asia. This pick long term is however a matter of supply and demand and the problem here is on the supply side.

Copper is not a precious metal. I fact there is plenty of copper around and the imbalance in supply and demand will be resolved with time. I believe that many of the copper picks that 3SOF is looking into is mining companies that has reopened old mines that has become feasible to exploit with the increase in copper price (these mines were closed last time there were an imbalance in supply and demand!)

The excessive profitability these mines have now might/will evaporate over time.

Short term EZM and TGB might be great picks and I am indeed looking into both of them. I do however prefer Gold stocks long term.

Michael

Applaud Mic, I think we should not neglect aluminium here, and ERS is the one of the fastest [read riskiest] way to play it. Just watch the futures for few days and you will know what we are talking about.

David You Wrote:

Quote"At first sight it looks like I was overestimating net income, but the fiscal 1st quarter was a losing quarter for the company ! So, for the last 4 quarters, TGB lost $4M in Q1, lost $1M in Q2, earned $8M in Q3 and earned $21.4M in Q4. Considering 12% growth in copper prices in the 4th quarter of 2005 (fiscal 1st quarter in 2006 for the company), TGB may report $23.97M in net income when it reports earnings next Tuesday."

If you closely at their financials the really only earned about 3.8M the rast came from a tax benefit. Check out their financials. Revenue and profit excluding the tax benefit was actually down in 4Q05 compared to 3Q05. Over 15M of their net income came from this tax benefit.

David You Wrote:

Quote"At first sight it looks like I was overestimating net income, but the fiscal 1st quarter was a losing quarter for the company ! So, for the last 4 quarters, TGB lost $4M in Q1, lost $1M in Q2, earned $8M in Q3 and earned $21.4M in Q4. Considering 12% growth in copper prices in the 4th quarter of 2005 (fiscal 1st quarter in 2006 for the company), TGB may report $23.97M in net income when it reports earnings next Tuesday."

If you closely at their financials the really only earned about 3.8M the rast came from a tax benefit. Check out their financials. Revenue and profit excluding the tax benefit was actually down in 4Q05 compared to 3Q05. Over 15M of their net income came from this tax benefit.

QuoteIf you closely at their financials the really only earned about 3.8M the rast came from a tax benefit. Check out their financials. Revenue and profit excluding the tax benefit was actually down in 4Q05 compared to 3Q05. Over 15M of their net income came from this tax benefit.

It looks like it was too good to be true ... I still need to check some things later, but I see a $17.5 million tax benefit in 2005  :-\.

Anyway, TGB still looks very attractive to me, and copper prices are up 1% or so in London today, so probably TGB will trade higher for the short term and I'll have time to study some more.

Michael, I understand what you say concerning the copper market, but at least for now, copper is in an intense bull market. If this bull market will last 3, 5, 10 or 20 years is anybody's guess.

As I see it major gold companies rose a lot because the gold price rose 70% over the past 3 years. But, in the same period copper prices rose 200% and copper related stocks did not rise nearly as much as gold related companies.

I agree that gold is a precious metal, and copper isn't, but copper is up 200% and gold is up 70%, so the market says the imbalance between supply and demand favours copper even more than gold.

I will probably need to make a new case for being so bullish on TGB, but for now I'll continue holding it, both on a trading and investment perspective.

Quarterly report is available to view at www.sedar.com, I can't copy the file so here are some figs  (Canadian $)

Revenue: $41.2M
Net Earns $6.7M
Earns per share $0.06
Inventory $2.99M
Cash and Cash Equivalents $20.4M

I am not commenting as to the numbers just reporting them.

Are we sure these copper stocks will be okay?  Copper prices seem to be volitile. Are the technicals holding up okay?

Taseko Produces 13.4 Million Pounds of Copper and 223,000 Pounds of Molybdenum in First Quarter
Wednesday February 15, 1:19 pm ET

VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 15, 2006--Taseko Mines Limited (TSX VENTURE:TKO - News; AMEX:TGB - News) announces its financial results for the quarter ending December 31, 2005, including production and sales for the Gibraltar Mine located near Williams Lake in south-central British Columbia.

ADVERTISEMENT
Overview & Highlights

Taseko had after tax earnings of $6.7 million, or $0.06 per share ($0.06 per share fully diluted) in the first quarter of its 2006 fiscal year. The Company had an operating profit of $8.1 million for the period.

The Gibraltar mine met its copper production forecast for the quarter and exceeded its molybdenum production forecast by 11%. In addition:

- Revenues of $36.2 million and $5.1 million were realized from sales of copper and molybdenum.

- The average prices realized for sales were US$1.88 per pound for copper and US$22.45 per pound for molybdenum.

- Copper production was 13.4 million pounds in concentrate.

- Copper sales were 16.4 million pounds in 28,912 wet metric tonnes ("WMT") of concentrate.

- Molybdenum production was 223,000 pounds in concentrate.

- Molybdenum sales were 196,000 pounds in 192 WMT of concentrate.

A reserve update completed during the quarter resulted in a 30% increase in proven and probable reserves at Gibraltar (see Taseko News Release dated December 12, 2005).

A $2 million exploration drilling program is planned for Gibraltar in 2006 in order to more fully define the material adjacent to existing pits with the objective of further increasing the mineral reserves and therefore mine life. Drilling is scheduled to begin in March.

An engineering study has been commissioned to determine the optimum alternative for expanding mill capacity by approximately 25%. The goal is to increase revenue and reduce operating costs by increasing metal production as a result of higher throughputs and metal recoveries. The study is to be completed in March.

Taseko will re-assess the economics of constructing a copper refinery at the site once the reserve and mill capacity studies are completed.

The Company re-initiated feasibility and permitting work on its 100% owned Prosperity Copper-Gold Project, with the objective to advance the project toward a production decision.

Subsequent to the end of the quarter Taseko was approved, subject to final normal course documentation, to move to the TSX Exchange (formerly the Toronto Stock Exchange) from the TSX Venture Exchange. It is expected that the Company will begin trading on the TSX Exchange during the week of February 20, 2006.

I have the following remarks to make to the latest results from TGB:

1) The number of shares outstanding is $6.7M/$0.06 = 111.66 million, so the market cap is $197.65M.

2) Net income for the fiscal 1st quarter, 2006, was $6.7M. If we annualize this we get $26.8M in net income, so the earnings multiple is 7.37.

3) Growth in earnings from the previous quarter, according to eggman11, was 76%.

4) Copper ended the day down 3.5% and that explains yesterday's 9% fall in TGB.

5) Overall this mining company seems cheap to me and I believe copper prices will continue on its long term ascending trend.

The bullish case isn't as strong as I initially thought but I'll continue holding TGB for the long term.

???????

I wrote an update on this on the Long Term Board. I believe the long term bull market in copper will continue and TGB is undervalued relative to its growth rate.

Technically there's support at $1.70 and the medium and long term trends are still bullish.

I'll continue holding TGB, despite the recent sell off.

I have been doing research on this and other mining companys, and have noticed that a lot of companys are having problems finding tires for there big haulers, More information in this link I found.  http://www.aggregateresearch.com/extarticle.asp?id=6712  . Was wondering if anyone could come up with something that may benifit from this problem. So far all i've found is goodyear tire (GT). It looks like it is ready for a big correction- or not. any opinions?

Quite interesting article jlong  :)

To know who benefits mostly from the current shortage in giant tires we would need to know, from each tire maker, what's their capacity or plans to produce these tires and when. It looks like the world's largest tire maker is opening a new factory in Brazil to meet the demand for these huge 7 ton tires.

Anyway, considering mining companies, if they can't mine as much as they should the metal prices will continue to increase at a fast pace, so revenues and earnings will probably grow anyway, even if production doesn't.

I think Michael is right when he says mining companies shouldn't be bought for long term purposes, because longer term mining capacity will increase too much, so supply will grow to a high level. If demand, for one reason or another, falters, these commodity prices will collapse, as mining companies share prices.

But, as I said before, the bull market in commodities, which is about 3 years old, may last 10 or 15 years  :o

TGB is one of the cheapest mining companies around, with $6.7M in profits over the last quarter. The earnings multiple is about 7 and the product the company sells, copper (and "moly" on a smaller scale), has a long term ascending trend.

Technically the stock made a washout of weak hands yesterday, breaking the $1.7 support on an intraday basis, but not on a closing basis. Volume is high and investor interest is turning to these copper plays. I want to make a comparison between TGB and other big copper mining companies. Possibly I'll buy some more copper plays.

I'll continue holding TGB for the long term (but not very long term, as I agree with Michael, mining is a highly cyclical industry, with supply growth somewhere in the future supply may outstrip demand, but that can be 10 years from now).

I read on a mining company website that Molybdenum prices increased 1000% since 2002  :o

I think this metal isn't traded on any futures exchange, so companies organize themselves in websites like this: Metals Place (http://metalsplace.com/)

Molybdenum represents just 12.35% of TGB's sales, but I'm interested on this product, since we know so little about it. The average selling price per pound of molybdenum at TGB was $22.45, where as for copper it was $1.86, or twelve times less. Any information you might find on "moly" is welcome :)

Anyway, over the 4th quarter the average copper price was $1.86, and now it is trading at $2.19. So, if the company can translate the rise in the copper price to a rise in profits (probably there will be even higher growth in profits, as costs don't rise as much as revenues), the company will earn about 7 cents in EPS on the current quarter, so the earnings multiple is about 6.8 or less.

As I was reading the earnings report, I found another interesting information:

«Subsequent to the end of the quarter Taseko was approved, subject to final normal course documentation, to move to the TSX Exchange (formerly the Toronto Stock Exchange) from the TSX Venture Exchange. It is expected that the Company will begin trading on the TSX Exchange during the week of February 20, 2006.»

Is there any Canadian here, who can explain the main differences between the TSX and the TSX Venture exchanges? (thanks  :)). Probably it is something like the difference between the AMEX and the NYSE, what do you think? Will this positive development help the stock this week? I don't know, but it won't do any harm ...

After a 38.2% retracement that looked like TGB was going to $0 for people holding the stock, TGB seems ready to push higher and make new highs above $2.07.

I believe TGB and EZM are sound commodity related plays that will bring nice profits to 3 Stocks on Fire Portfolios. It will be hard to shake me out of this, I can at least guarantee you that.

Molybdenum:

Molybdenum (often referred to as "Moly") is an important metal in both the industrial world and our daily lives. It was found to be a distinct element by Carl Wilhelm Scheele in 1778 but retained its name from the Greek word 'molybdos' or lead-like. In its pure state, molybdenum is a lustrous grey metal, somewhat heavier than iron but melting at a much higher temperature – 4730 degrees Fahrenheit as compared with 2795 degrees Fahrenheit for iron.

Holy Moly!! Interesting Metal.. never heard it before in my life ;) :D ;D

Check this out very interesting site:
**How Is Molybdenum Used?
**What Does Molybdenum Do?
http://www.climaxmolybdenum.com/Products/WhatIsMolybdenum/WhatDoesMolybdenumDo.htm

I have a small tub of it in my garage  ;D  in grease form. It's similiar to wheel-bearing grease but almost black in color...good stuff.

One of it's uses is to lubricate suspension bushings on automobiles.

David
BI Research was out with an update today. These are my comments reflecting on his commentary. 1. Co. posted .06 cents EPS despite processing low grade ore with lower recovery rates and $1.88 for their copper. 2. Co. does not believe it will report any taxes for 06 and perhaps 07. 3. He raises est. from .32 cents taxed to .45 cents untaxed. 4. Co. loaded every ounce of concentrate in its warehouse on ship headed to China on Feb 6th and he believes they were paid $2.15. 5. He's looking for 62 mil lbs of copper production in 06 and 74 mil lbs in 07.
NONE of these projections include Prosperity. The 1999 feasibility study showed 2.3 bil lbs of copper and 6.7 mil oz of gold with a 20 yr mine life. One of the biggest in No Amer. He will not assign real numbers to future earnings but anyone can multiply the Cu prospects and the gold prospects X even 50% of current price and divide it by 112 million shares (FD) to get some future EPS.
Still rates the stock a buy. Hope this helps. This service is fundamental in its approach and has a longer term outlook.

Thanks for the information on «moly» and that piece of research from 1reilly  :)

Quote3. He raises est. from .32 cents taxed to .45 cents untaxed.

If there are no taxes as that analyst expects, with 45 cents a share in EPS, TGB has an earnings multiple of 4.4. I think this is unsustainable for long and TGB's stock price should at least double from current levels, and it would still be cheap.

Quote5. He's looking for 62 mil lbs of copper production in 06 and 74 mil lbs in 07.

Copper production in 05 was 54.8 million pounds, so the analyst expects 13% growth in 06 and 19% growth in production for 07. Quite positive outlook.

QuoteNONE of these projections include Prosperity. The 1999 feasibility study showed 2.3 bil lbs of copper and 6.7 mil oz of gold with a 20 yr mine life. One of the biggest in No Amer. He will not assign real numbers to future earnings but anyone can multiply the Cu prospects and the gold prospects X even 50% of current price and divide it by 112 million shares (FD) to get some future EPS.

We could do that, but we don't need it for now. Let's wait some more to see how the project develops, no doubt this is the right time to open that mine.

TGB is extremely undervalued and after a steep correction I expect the stock to break $2 and $2.10 on the upside, nevermind the gap or what seems to be a resistance level.

A close friend of mine, at a time in his life, spent some months developing a technical analysis theory solely based on volume. For some time his calls were always accurate, it was really impressive. His theory said something like this: «when a stock approaches a resistance level on the chart, volume must increase. If volume does not increase, it is because that level isn't really a resistance, and prices will continue to climb for the short term»

Now look at the chart below. We have the resistance line, but volume was lower today ... his theory claims that, although buyers still lack the courage to take prices much higher, there is less selling pressure this time. Ultimately bulls will win this battle around $2 and take the stock significantly higher, perhaps to a level around $2.07-$1.6 = $0.47 + $2.07 = $2.54

I'll continue holding TGB.

Funny how TGB was able to close the gap at $1.92 on yesterday's session and still managed to close at $1.96. The gap is closed and the stock is fighting with the $2 resistance level. If my friend's theory is valid enough, we'll soon see a bullish breakout of $2.

Copper prices also have a bullish setup and probably will make new highs soon.

I'll continue holding TGB on the trading portfolio.

Copper opened lower, rallied, and then came back down to close near the lows. That leaves a Gravestone doji on the chart, which, according to literature, is more bullish than bearish. It allows a stock (or in this case, commodity), to push higher after a positive open, as it opens on the upper shadow of the candlestick.

Will copper open higher today? I don't know, lost my CNBC cable connection yesterday (the strong wind took the antenna down, oh my).

TGB is just holding near the top. If the trend continues, and trends usually do that, the stock will break out of all this zone with a powerfull white marubozu. I have little doubts that will be the outcome and I'll continue holding TGB.

Copper made a nice rebound yesterday. TGB is one of the cheapest stocks in the market considering the earnings multiple. I believe the bull market in copper will continue (perhaps for 5 or 10 years more), and TGB will be a huge gainer.

Well, this is all long term bullshit (can I say this?  ;D I understand it's not a serious thing, since I'm always seing it in the movies ...)

For the short term, we have another gravestone doji and some doji will be «low doji». Volume increased a bit.

It's interesting how TGB's chart perfectly mirrors the copper chart. We'll see what happens next, I'll continue holding TGB, both on a trading and investment perspective.

David,

I don't know if you or anyone else would be interested, but DROOY looks like it could be a nice long-term play on this successful breakout re-test, as long as 1.21, the low the Right Shoulder/Symmetrical Triangle holds.

Here's a re-post my analysis from the DROOY folder on the Previous 3SOF Picks Board:

Dhiraj.

I don't know if you're still interested in DROOY, but I'd say it has a good chance of going up at least 100% by mid-2007.

DROOY showed up as my first Metastock Explorer Wolfe Wave on February 16.  I ignored it because I didn't see how that could be a Wolfe Wave.  I still don't.

Yesterday morning, I decided to study the chart anyway.  Here's my take:

1. December 29, DROOY not only broke out above a Symmetrical Triangle, putting 1.95 IN PLAY, it also took out a year-long down-sloping neckline of a big Inverse H&S Bottom, putting 3.10 IN PLAY.

2. The 1.95 target MADE on January 20.

3. Recently, DROOY has been re-testing the neckline breakout (red down-sloping line), and has been holding.

Looks good. 

I bought it yesterday at 1.44.

DROOY was at BID 1.48...ASK 1.49 when I started this post.  It's now BID 1.54...ASK 1.55.
That's good.  The print of 1.55 takes out the February 21 high of 1.54.

Good luck if you're still holding DROOY.

Nice rally on TGB and Copper yesterday  :)

I'm expecting TGB to cross that resistance line soon. Today it stands at $1.93.

I'll continue holding TGB, both on a trading and investment perspective.

People are losing patience on TGB, which is exactly what we want for a bullish breakout of the $2 area.

There's nothing else to do but to keep on waiting for that bullish breakout. Fundamentals deserve it.

The consolidation phase continues on TGB. Perhaps it is waiting to touch the 50 day moving average before continuing its bullish trend. Stocks often do that.

I'll continue holding TGB.

I changed my mind  :'( The company says this on its letter to shareholders:

«B.     
Special Matters:
 
1.        

Increase to Authorized Capital of Common Shares – To consider and if thought fit, approve an ordinary resolution to alter the Company's Notice of Articles to provide for an unlimited number of Common Shares without par value.
     
2.          

Alteration of Authorized Capital to Create Preferred Shares – To consider and if thought fit, approve an ordinary resolution to alter the Notice of Articles to create a new class of Preferred Shares, without a maximum authorized number, issuable in series, with special rights and restrictions applicable to the class which permit the directors to affix specific rights and restrictions to each series if, as and when issued.
     
3.        

New Articles of Incorporation – If the Preferred Shares are approved, to consider and if thought fit, approve by special resolution the replacement of the Company's Articles by new Articles to reflect the Preferred Shares class rights and restrictions and certain other matters described herein.»

There's nothing worse they could do ... this management makes me sick (OK, I was already sick, but this makes me mad).

This news means nobody will have control on the number of outstanding shares. The stock can go down to $0.10 and still have a larger market cap than the current market cap. Without a doubt, management seeks to dilute common shareholder value.

I'll sell TGB today, both on a trading and investment perspective  :'(

I'll take a new look at DROOY Melf Elf, thanks  :)

I'm selling TGB today on the Long Term on Fire Portfolio, due to this update on the Stocks on Fire Portfolio:

I changed my mind  :'( The company says this on its letter to shareholders:

«B.     
Special Matters:
 
1.        

Increase to Authorized Capital of Common Shares – To consider and if thought fit, approve an ordinary resolution to alter the Company's Notice of Articles to provide for an unlimited number of Common Shares without par value.
     
2.          

Alteration of Authorized Capital to Create Preferred Shares – To consider and if thought fit, approve an ordinary resolution to alter the Notice of Articles to create a new class of Preferred Shares, without a maximum authorized number, issuable in series, with special rights and restrictions applicable to the class which permit the directors to affix specific rights and restrictions to each series if, as and when issued.
     
3.        

New Articles of Incorporation – If the Preferred Shares are approved, to consider and if thought fit, approve by special resolution the replacement of the Company's Articles by new Articles to reflect the Preferred Shares class rights and restrictions and certain other matters described herein.»

There's nothing worse they could do ... this management makes me sick (OK, I was already sick, but this makes me mad).

This news means nobody will have control on the number of outstanding shares. The stock can go down to $0.10 and still have a larger market cap than the current market cap. Without a doubt, management seeks to dilute common shareholder value.

I'll sell TGB today, both on a trading and investment perspective  :'(

David, TGB (TKO.V) is today graduating to the TSX (Toronto Stock Exchange) from the venture exchange. I don't think this will have any bearing on your decision but it is considered a step up.

Standard & Poor's Announces Changes in the S&P/TSX Venture Composite Index
Tuesday March 7, 5:17 pm ET

TORONTO, March 7 /CNW/ - Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Tuesday, March 7, 2006:

       -   Taseko Mines Limited (TSXVN:TKO) will be removed from the index. The
           company will graduate to the TSX to trade under the same ticker
           symbol at the opening of trading on Wednesday, March 8, 2006.

Hope your feeling better soon!

uc.

For GOLD stocks, DROOY is not a good choice.

Buy the best in the sector.

With strong gold price, DROOY is still loosing money.

YTD: the best is AGT followed by DEZ and WTZ

Sorry, I had to delete my previous message. But here is my new one:

I have DEZ  - it is being bought by AUY for .60 of each AUY share.

My concern is that GOLD is SITTING on the SUPPORT line for the upward channel that it has been in. Can someone (who is more technical than me) look at $GOLD and tell me if it will keep going up or will drop...? Where are the commodities going short term?

I was reading on yahoo message board that they tried to do this before, but through proxy vote shareholders voted no. But for them to even try this, it seems that they show little value of thier shareholders.

What happen to all this LONG-TERM stock? they all selling everything.. :D

Thanks guys for the gold stock analysis and remembering me.

DROOY is almost 100 year old company. Traded on many stock exchanges worldwide. Gpt burned thrice wont jump in technically or fundamentally.

My pick nowadays for gold is AZK. (I'll start a thread)

Story on same lines as DEZ. Made a good return on DEZ from 2.10 to 5.00 when it got bought by AUY.

Reinvested money in AZK, same story and quality of gold as DEZ. Production will hit in second half. Project on track.
See the sheet attached for the various precious metal stocks ratings:

http://www.kitco.com/ind/Matlack/mar202006.html

Its rating was 1.6 and Drooy was 4.2 ( 1 Strong buy and 5 strong sell).

http://www.goldsheetlinks.com/goldsheet.htm

WOOOOHOOOOOO!

HOME RUN FOR DAVID!  UP 14%

UP TODAY ON BIG VOL. 3RD DAY IN A ROW.

http://tools.thestreet.com/rmy/quotes.html?osymb=SFD&pg=qcn&timer=&mode=&symb=TGB&go_btn=Go

WOOOOHOOOOOO!
I believe this Home Run came out of Terlisa's Ball Park..... ;D
Breakout has taken place.....

Great Pick Terlisa ...outstanding work on this thread.  ;)
Applaud once again.... ;)


Technicals
Last Price Quote is:
24.41%above 13-day EMA
32.44%above 50-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

I already sold this one... so early, once again i did not follow my plan :(  ...do u think TGB will hit my initial target price @ $3.32 in the near-term ? 

http://www.3stocksonfire.org/trading/index.php?topic=4182.0

hey Terlisa - Yes. I sold half my position at the close on Wednesday. I'm going to buy it back Monday (unless something crazy happens). TGB should go much higher. $3.32 would be fine with me!

Do you think it will dip close to $2 before continuing up? How do you think it will do tommorrow, I hold a poisiton, but was thinking of selling on Monday and buying back cheaper. You guys think that I should just hold?

Yep, hold it Effi. JMHO! $-)

Press Release Source: Taseko Mines Limited


Taseko Board Approves Upgrade of Concentrator at the Gibraltar Mine
Thursday March 30, 2:24 pm ET


VANCOUVER, British Columbia--(BUSINESS WIRE)--March 30, 2006--Taseko Mines Limited (TSX:TKO - News; AMEX:TGB - News) announces that its Board of Directors has approved a capital expenditure to expand and upgrade the concentrator facility at the Company's Gibraltar Mine, located near the City of Williams Lake in south-central British Columbia. The mine is operated under an agreement between Taseko's wholly owned subsidiary, Gibraltar Mines Ltd., and Ledcor CMI Ltd. This upgrade and expansion project will increase the production capacity of the Gibraltar mine from 70 million pounds to 100 million pounds of copper per year by 2008.
 

The approved $62 million dollar expenditure will expand the concentrator's grinding circuit by incorporating a Semi Autogenous Grinding (SAG) mill that will improve the efficiency of the present milling and crushing system. The project also includes a complete replacement of the flotation recovery system. The expanded milling capacity and upgraded flotation system will decrease Gibraltar's unit operating costs by roughly 10% through a combination of increased throughput and improved recoveries of both copper and molybdenum.

The ore processing capacity of the mill will increase by 25%, from the current 36,750 tons per day to 46,000 tons per day. As a result of the increased capacity and the improved recoveries related to the new flotation system, the annual copper production is expected to rise by 30% to approximately 100 million pounds per year. The new SAG mill will, however, be capable of processing up to 50,000 tons of ore per day, depending on ore characteristics and operating strategy. Additional engineering analyses of the tailings system and electrical infrastructure, as well as long-term mine plans, are being undertaken to determine whether that additional daily throughput can be achieved.

President and CEO Russell Hallbauer said: "This expansion is a major step towards the long-term viability of the Gibraltar mine. The expansion is being undertaken at less than one-half the cost of the typical new greenfield construction projects that are under consideration by other mid-tier mining companies, plus it will provide a major increase in copper production in a much shorter time frame compared to greenfield projects. As an added bonus, the project at Gibraltar can be completed with no interruption of current copper and molybdenum production."

Funding for the expansion will come from a combination of internally generated cash flows and commercial capital sources. The upgrade to the flotation system will begin immediately. Construction of the grinding circuit will begin in the summer of 2006, with completion planned for the latter part of 2007.

For further details on Taseko Mines Limited, please contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Russell Hallbauer, President and CEO

This news release contains forward-looking statements that are based on current expectations and which involve risks and uncertainties, including those referred to in Taseko's Annual Information Form ("AIF") filed with Canadian securities regulatory authorities, or Taseko's annual Form on 20F ("20F") filed with United States securities regulatory authorities, that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in the forward-looking statements. Such forward-looking statements include statements regarding financial results and expectations for 2006 and include, among other things, statements regarding targets, estimates and/or assumptions in respect of copper production and/or copper prices, cash operating costs, expenditures on property, plant and equipment, increases and decreases in production, reserves and/or resources and anticipated grades and recovery rates and are or may be based on assumptions and/or estimates related to future economic, market and other conditions. Factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, the factors described or referred to elsewhere herein and/or in the AIF and 20F, and include unanticipated and/or unusual events. Many of such factors are beyond Taseko's ability to control or predict. Actual results may differ materially from those anticipated. Readers are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Taseko disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. For further information on the Company, Investors should review the Company's Canadian public filings at www.sedar.com or its US public filings at www.sec.gov.

The TSX Stock Exchange and the American Stock Exchange have not ap proved or disapproved the contents of this press release.

Taseko Mines Limited (TSX:TKO - News; AMEX:TGB - News)



Contact:
Taseko Mines Limited
Shawn Wallace
Investor Services
(604) 684-6365 or Toll Free: 1-800-667-2114
Fax: (604) 684-8092
www.tasekomines.com

--------------------------------------------------------------------------------
Source: Taseko Mines Limited

Nice move.....

Volume: 3,817,300
Avg Vol (3m): 1,051,580

Technicals
Last Price Quote is:
23.43%above 13-day EMA
41.20%above 50-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

Another example for catching a trend in the beginning. ;)

No need to wait for the breakout... because you are ahead of them before the breakout actually happen ;)

But keep in mind, the price should above 13 day EMA ;)

Is someone still holding this bullish stock? ;)

Yes, I have TGB - 8000 shares.  Also, 3000 of AUY....(gold)

Ohh man, a gapper is born ;)

Quote from: Alister on April 17, 2006, 02:17:12 PM
Ohh man, a gapper is born ;)

As said yesterday "a gapper was born"  

Sold mine @ 3.63 this morning with 62% gain.  I have a feeling that it's due for some correction.  Will buy back around 3.30 range.  Then again, now that i've sold it, it will shoot up to $4.   >:D

Quote from: Alister on January 02, 2006, 11:18:01 PM

Quote from: setravis on January 02, 2006, 11:10:14 PM
We got some ESP going on here Terlisa !  :o
I was also looking at this one .
Applaud the pick.... :D

This may be a good sign for us this NEW YEAR... ;) :D ;D

A good sign it was Alister..... ;)  Applaud..... ;)
I think the price closed at a $1.22 that trading day.
Look at her now.... ;D

Volume: 4,356,700
Avg Vol (3m): 1,208,480

Technicals
Last Price Quote is:
37.48%above 13-day EMA
72.30%above 50-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 

Looks primed to move on up.

Volume: 2,491,100
Avg Vol (3m): 1,330,210

Technicals
Last Price Quote is:
15.96%above 13-day EMA
52.35%above 50-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

dropped a percent or two in the last two days, where is this thing going?

Anyone else with TGB, EZM, AUY, GOLD....  I'm holding alot of these. AUY is staying low until their secondary @ $10.00 is finished on Tuesday, May 2.

Got back in on Friday. Looks ready for another leg up, but I'm keeping on short leash on it as it has had quite a run already this year. I made a great return on it when I played it from $1.89 to $3.51. Back in now at$3.38 with a mental stop in the mid-3.20's.

Quote from: bmarc4211 on May 01, 2006, 11:20:54 AM
G- How about TGB.  The macd just crossed to the negative but the ascending channel line seems to be acting as resistance.  At least through the eyes of an absolute amateur chart reader,

Answer from EliteG TGB - still looks bullish to me.. consolidating.. but we'll most likely see this @ 5 soon.

Price at that time was 3.41 (my entry point).  It is now 3.91 pre-market (up 14+ %) and has broken the 52 week high.  G, once again, YOU ARE THE MAN. 

NOTE TO SELF - DON'T USE YELLOW FONT!!

Quote from: bmarc4211 on May 01, 2006, 11:20:54 AM
G- How about TGB.  The macd just crossed to the negative but the ascending channel line seems to be acting as resistance.  At least through the eyes of an absolute amateur chart reader,


Answer from EliteG: TGB - still looks bullish to me.. consolidating.. but we'll most likely see this @ 5 soon.

I got in at 3.48 and held it through the consolidating period listening to the G-man.
And boy am I glad that I did  ;D
Would love to see it break through 4.00 today and hold.

Earnings are out soon.  Some on the Yahoo board are estimating 12-14 cents (maybe 60 cents this year).  Still pretty cheap stock considering the PE ratio.  I don't think they hedge their copper prices.

Nice move last session!  Broke through the 50 dma, 200 dma, and the six month resistance line on twice the average volume.  Will the gap at 3.00 fill?

Let's buy back TGB ;) :D

TGB2

Alister,

Nice job on the TGB charts.  Applause.

After looking at all that's going on in this chart, I think I have a headache.  We need a face on the toolbar that is getting hammered in the head.  :D

Here's what I've got:

1. Ascending Trinangle #1

Coming off the Parabolic Return to 1.93 on June 13, TGB went into an Ascending Triangle.  That broke to the downside on August 9, putting a target of 1.51 IN PLAY.

2. Ascending Triangle #2

After the breakdown of Ascending Triangle #1, the stock went up to re-test the breakdown, and formed a smaller Ascending Triangle, a "fractal" (repeating pattern) of the larger one, from which TGB also broke down, putting a target of 1.98 IN PLAY.

NOTE: This pattern is circled in grreen, since it also "could be" the Left Shoulder of a Bullish Inverse H&S pattern.

The Ascending Triangle #2 target MADE on September 21.

3. W-Bottom

After the 1.98 target MADE, TGB rallied to 2.23, failed below the 200 DMA, then re-tested the 1.96 low, which held at 1.99.

That set up a "possible' W-Bottom (drawn below the candles).  Bullish only if the middle of the pattern (pivot) at 2.23 got taken out to the upside.

The technicals during this pattern:

A. MACD gave one of those "Hound of the Baskervilles" signals, coming ofF the Left Leg low, at 1.96.

B.  In the Right Leg, the 13/21 RSIs gave a Buy Signal at 2.17 on October 12, the day before the 2.23 "W" pivot got taken out to the upside.

Those were indications of an impending "W" Bottom breakout, on a print of 2.24.

2.24 got printed on October 13, putting  2.47-2.50 IN PLAY (depending on whether you use the Left Leg or the Right Leg to measure).  It didn't matter.  Both 2.47 and 2.50 MADE.

4. "Possible" Bullish Inverse H&S

We're currently in the Right Shoulder of it, "champing at the bit" at the neckline, for a breakout.

The technicals during this formation:

A. Both the 13/21 and the 34/55RSIs gave a Buy Signal at 2.48 on October 31.

B. On November 3, the MACD kicked higher of its signal line.

Problems that I've got:

1. I'm not sure where to put the neckline.  I have it at 2.59, the high of October 23.  There was a breakout to 2.63 on November 1, but the stock reversed, and closed on its low for the day.

TGB now is back at the neckline (using the 2.59), but I never know whether to "move the chains" and put the neckline at the 2.63, or not.  If I do that, we need to come down again for a Right Shoulder.  I'm inclined to leave it as it as, with the 2.63 as a "false breakout."  Hopefully, that's only a "temporary" false breakout.

That's always problematic for me.   ???

2. I don't like the Bearish Cross of the 50DMA below the 200DMA on October 11.  They can get rectified easily enough on a rally, so I won't make a big deal out of it, but it bugs me a little.

3. I've got risk:reward problems on an entry here.  I expect resistance at 2.90, which is about 11½% higher from here, and the stop is 2.30, about 11½% lower from here.

Risk:reward is 1:1.  I don't like that.

If this is a Bullish Inverse H&S, which it looks to be, then the target will be quite a bit higher than 2.90 resistance, as you showed on your chart, Alister, so the risk:reward would be much better.

By the way, I like the Ichimoku Kinko Hyo chart a lot at this juncture.  I'll post the MACD chart next, then the Ichy chart.

Thanks for your analysis, Alister.  ;)



 

MACD

13/21 RSIs

Ichimoku Kinko Hyo Chart:

1. On the first Ascending Triangle rally attempt off the 1.93 Parabolic Return low, TGB ran smack into the Kumo (Cloud) on July 5.  More like smacking into the side of a mountain.  :D

From there, it was "stuck in the cloud," then fell below it.

2. On the second Ascending Triangle rally attermpt, the Kumo (Cloud) wasn't as thick, but the 8-day Tenkan-sen and 22-day Kijun-sen were inverted, and TGB found resistance at the latter.

It was a "no go," and TGB broke down again.

3. What I like about the rally off the W-Bottom, is that TGB:

A. Thrusted above the Kumo (Cloud) on the first rally attempt

B. Went down and planted a foot on the 22-day Kijun sen (solid red line), which was SUPPORT this go round, not RESISTANCE like it was in the Ascending Triangle #2 attermpt

C. Is back above the Kumo (Cloud), "champing at the bit" for a Bullish Inverse H&S pattern breakout

Bought TGB 2.59

Great analysis Melf... applause ;)

on my watchlist for tomorrow guys, more applause

Amazing...I love reading Melf's anaylsis, it really helps me!

Applauds to alls.

...on the watch!

I like what I see here.....will probably join in tomorrow

Good luck, Alister, and to any of you who play TGB!

I have to pass on it, due to the risk:reward, primarily the 11½% risk, if the logical stop of 2.30 gets taken out to the downside.  2.30 is the low of the Halloween candle, when we got the second Buy Signal at 2.48 out of the RSIs, so that's the "logical stop."

The first Buy signal was at 2.18 on October 12, the day before the W-Bottom breakout.  "If" we had bought there, we'd be locked into a winner, now that we can move the stop up below the 2.30 Halloween low, when the 2.48 Buy Signal was given.

At yesterday's close of 2.58, we're "late to the trade," which is why the risk:reward is a bit problematic here.

TGB already has rallied 18.3% from the 2.18 Buy Signal, so we've "given that away."

TGB has rallied 4% from the 2.48 Buy Signal, so that's not bad.  We haven't given away much of the gain from that signal.

Yesterday, TGB put in a little Bearish Hangman at the neckline.  If it should come back toward the 2.48 Buy Signal, that would improve the risk: reward.  With a stop below 2.30 (so, 2.29), the risk would improve to a loss of 7.7%, on a stop out.  Reward would improve to 16.9% if we get the anticipated rally at least to 2.90 resistance.

That's a 1:2 risk:reward.  Better.  And, the reward would improve, of course, if we take out 2.90 to the upside. 

2.465 is the 8-day Tenkan-sen (solid green line), which could get tagged on selloff here, off yesterday's Bearish Hangman.

2.425 is the top of Kumo (Cloud) support.

So, we'll call it 2.42-2.48 , which "should be" support, if we get a little selloff. 

Meanwhile, I hope that TGB rallies straight up, so that Alister can get rich $$$.  :D

Opened position at 2.60 this morning, it could go higher than 2.90 but hey any gain will do....

I managed to get some for $2.59 this a.m.

Quote from: Melf Elf on November 07, 2006, 06:13:58 AM
2.465 is the 8-day Tenkan-sen (solid green line), which could get tagged on selloff here, off yesterday's Bearish Hangman.

2.425 is the top of Kumo (Cloud) support.

So, we'll call it 2.42-2.48 , which "should be" support, if we get a little selloff. 

Meanwhile, I hope that TGB rallies straight up, so that Alister can get rich $$$.  :D

I'll be joining you guys if I can get TGB in the mid- 2.42-2.48 area.  The 200DMA also is there, at 2.413, as of yesterday's close.

The low today is 2.51.

Nice white candle today; although, volume was around average....

Quote from: bocasva on November 09, 2006, 10:19:08 PM
Nice white candle today; although, volume was around average....

bocasva,

They didn't let me in at my price, but that's good for you guys!  ;D

This neckline is a little awkward, with the upward slope, and with Wedneday's close back below it, which is why I thought that I'd get a chance at it, in the mid-2.40s.

But,TGB is back above the neckline, and its headed in the right direction, so hopefully, it will continue higher for you, at least to that 2.89-2.90 resistance.

Good luck to all of you!

Quote from: Melf Elf on November 10, 2006, 05:23:52 AM

They didn't let me in at my price, but that's good for you guys!  ;D

This neckline is a little awkward, with the upward slope, and with Wedneday's close back below it, I thought that I'd get a chance at it, in the mid-2.40s.

I had a chance yesterday to buy TGB at the price that I wanted last week, but I passed on the trade because it "shouldn't be" back to this level.

Quote
TGB is back above the neckline, and its headed in the right direction, so hopefully, it will continue higher for you, at least to that 2.89-2.90 resistance.

TGB "should have" continued higher from Wednesday's 2.51 low.  Instead:

1. Friday was a Bearish Engulfing Candle.

2. Friday also was a SECOND close back below the breakout.

3. MACD crossed below its signal line yesterday.

This still could be fine, but that's too sloppy for me.  I had to pass.   Good luck, guys!

I got stop yesterday @ 2.40

Bad trading!! :(

Quote from: Terliso on November 14, 2006, 01:18:15 PM
I got stop yesterday @ 2.40

Bad trading!! :(

Alister,

Those false breakouts are tough to play.  TGB looked fine when it broke out again on Thursday, but then... :P

Ohhhh... I forgot to post my loss here too, ok let's do that :(

Loss -7.33 plus 9.95 commission

Quote from: Terliso on November 06, 2006, 07:20:14 PM
Bought TGB 2.59

Quote from: Terliso on November 14, 2006, 01:18:15 PM
I got stop yesterday @ 2.40

Bad trading!! :(

Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law ;)

Quote from: ScottishTrader on November 17, 2006, 02:15:48 PM
Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law ;)

Scotsman,

Yeah, now when you don't stick to your Trading Philosophy, I can give you a 24-hour suspension from trading.

Trader BEWARE!!!  :D  >:D 

Quote from: Melf Elf on November 17, 2006, 02:48:17 PM

Quote from: ScottishTrader on November 17, 2006, 02:15:48 PM
Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law ;)

Scotsman,

Yeah, now when you don't stick to your Trading Philosophy, I can give you a 24-hour suspension from trading.

Trader BEWARE!!!  :D  >:D 

Congrats and Applaud Melf!  As I said in my other post, I am all for whatever improves the site, and you being a Moderator does that. 

Is there any chance of an official 3SOF Melf Portfolio to come?  ;)

Thanks, Tok!

Quote from: tokyopua on November 17, 2006, 03:42:04 PM
Is there any chance of an official 3SOF Melf Portfolio to come?  ;)

No-oo way-yy, buddy!  I've got time managment problems as it is.  :D

oh dear.... I think I may be in trouble....

I've been writing about how bull I am on $copper on the Peru Southern Copper (PCU) thread and I need to have at least one more copper play. This is more of a macro play than company specific, although PCU has terrific fundamentals.

I've been expecting $copper to jump back above $320, and it did that yesterday, climbing 2.2% to $324. I expect $copper to make a move towards $450 after seven months of consolidation:

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=29674;image)

TGB isn't as strong as PCU on the fundamental front, since it just started production in 2005, but revenues are growing in leaps and bounds, and it's profitable. The potential is very high since this is just a $350 M market cap, whereas PCU is a $16.5 B company.

Trading Plan:

Buy TGB today around the open, 6.66% of capital (today can be a breakaway gap, so nevermind the gap)

Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one?  ??? ???

Quote from: Dracull on December 06, 2006, 07:43:58 AM
Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one?  ??? ???

Don't be sorry Dracull, I welcome every question or doubt, thank you :)

I should do that if I were a pure technical trader, but I ain't.

Please read the following quote from Jesse Livermore (Reminiscences of a Stock Operator, page 61):

"I should say that a chart helps those who can read it or rather who can assimilate what they read. The average chart reader, however, is apt to become obsessed with the notion that the dips and peaks and primary and secondary movements are all there is to stock speculation. If he pushes his confidence to its logical limit he is bound to go broke."

I consider there's more to successful stock speculation than drawing lines on a chart. Charts are a useful part of the game, but no one will ever grow rich just studying them. I can elaborate on this, if you want ...

Good luck, though :)

Quote from: David Randolph on December 06, 2006, 08:04:31 AM

Quote from: Dracull on December 06, 2006, 07:43:58 AM
Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one?  ??? ???

I consider there's more to successful stock speculation than drawing lines on a chart. Charts are a useful part of the game, but no one will ever grow rich just studying them. I can elaborate on this, if you want ...

Good luck, though :)

That's the issue...I'm a more thecnical player  :P

QuoteThat's the issue...I'm a more thecnical player :P

Then stick to your own game if you want and wait for a clear breakout of the resistance level. Perhaps you'll save money. Maybe I'm wrong.

Thanks for your participation Dracull ! Do you know Cem from clubeinvest.com? He's a very successful systems trader (pure technical and mechanical systems).

AussieTrader is also developing a space on 3 Stocks for technical systems, take a look: Trading Systems (http://www.3stocksonfire.org/trading/index.php?board=37.0)

I also believe you got a good one here, particularly due to the sector.
As to technicals, the MACD and full STO look very promissing and those
three lines (50MA, 200MA, 200EMA) are in the right place.  CCI is just waiting
to explode.
Thx David for bringing this up to our attention

GLTA holders

Quote from: David Randolph on December 06, 2006, 08:20:21 AM

Thanks for your participation Dracull ! Do you know Cem from clubeinvest.com? He's a very successful systems trader (pure technical and mechanical systems).

Yes, I was fortunally enough to meet him at a lunch of stockinvestors, after that we discover that we work at the same complex.

Anyway, regarding TGB, I will look to this one closely. Good Luck  8)

Is TGB and TKO.TO - are they same company??

Quote from: tocitygirl on December 06, 2006, 10:13:00 AM
Is TGB and TKO.TO - are they same company??

Yes, Taseko Mines Ltd, you can buy on the TSX :)

(http://stockcharts.com/c-sc/sc?s=TGB&p=D&st=2006-04-10&i=p83475214959&a=74067188&r=6981)

Quote from: Dracull on December 06, 2006, 07:43:58 AM
Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one?  ??? ???

Dunno about a breakout on TGB, but there is one today on TGP lol!

QuoteYes, I was fortunally enough to meet him at a lunch of stockinvestors, after that we discover that we work at the same complex.

Anyway, regarding TGB, I will look to this one closely. Good Luck 8)

So you work at Lagoas Park, in Oeiras, right? I used to work at Quinta da Fonte :)

Now I work at my place in Ericeira, by the sea ... ;) Perhaps someday we can have a cup of coffee or a beer (http://mdteague.com/Cheers)

Anyway, I don't know if I understand what you mean, you're saying you're a technical trader and you're satisfied with that or would you like to also learn Fundamental Analysis to make you a more complete investor?

I can recommend you good books on Fundamental Analysis.

Coming back to TGB, if it rises another penny today it will be above the descending trendline on the chart. Volume was good enough. Anyway, even if it fails to breakout this time, and perhaps it trades 3 or 5% lower, that won't scare me, because my macro analysis of the $copper market says it is about to make a run towards $450.

TGB share price may double on such a macro environment.

I'll continue holding TGB.

Yes, Lagoas Park is my current workplace. Ericeira seems better, sure thing, I'd love to go there to have a cup of coffee, and maybe some fresh fish too, just tell me when.  8)

My formation at the stock market is purely AT, but more and more I begin to consider to join AT with fundamental analysis, if you can recommend some good book it would be super.

Now, with TGB, I bough 3% and if it makes the breakout (hope soon) I will then reforce my position.

QuoteYes, Lagoas Park is my current workplace. Ericeira seems better, sure thing, I'd love to go there to have a cup of coffee, and maybe some fresh fish too, just tell me when. 8)

Great, let's have lunch in the first week of January (http://mdteague.com/Cheers) My e-mail is [email protected], send me an e-mail so we can arrange things without messing TGB's thread.

QuoteMy formation at the stock market is purely AT, but more and more I begin to consider to join AT with fundamental analysis, if you can recommend some good book it would be super.

Ok, you need to read "Mastering Fundamental Analysis (http://www.amazon.com/Mastering-Fundamental-Analysis-Michael-Thomsett/dp/0793128730/sr=8-1/qid=1165540350/ref=pd_bbs_sr_1/104-9523553-3423120?ie=UTF8&s=books)", "Buffettology (http://www.amazon.com/Buffettology-Previously-Unexplained-Techniques-Buffett/dp/068484821X/sr=1-1/qid=1165540389/ref=pd_bbs_1/104-9523553-3423120?ie=UTF8&s=books)" and "One up on Wall Street (http://www.amazon.com/One-Up-Wall-Street-Already/dp/0743200403/sr=1-1/qid=1165540458/ref=pd_bbs_1/104-9523553-3423120?ie=UTF8&s=books)", for a start ;D

Quote
Now, with TGB, I bough 3% and if it makes the breakout (hope soon) I will then reforce my position.

Well, I can't say I was expecting the stock to fall 4.35% today, but I can say I was prepared for it:

QuoteAnyway, even if it fails to breakout this time, and perhaps it trades 3 or 5% lower, that won't scare me, because my macro analysis of the $copper market says it is about to make a run towards $450.

$Copper went down $15 in the last couple of days. It seems the shake out process isn't over yet. I need to substantiate my macro view on $copper with a macro article (I'm a $copper bull  since 2001 - but I need to check if everything stands, since $copper is up more than 300% over that time period.)

Theoretically I see strong demand for a few more years, maybe a decade, and not a lot of supply coming to the pipeline. I don't see anybody opening new copper mines. People need it, but no one wants to produce it, despite the big economic incentive given by rising prices.

This is a recipe for higher and higher copper prices until finally new mines and companies enter the sector. But not yet.

I'll continue holding TGB.

Arghh, the last two days candles were awful, I'm already losing 6.27% on TGB. Dracull was right, I could have waited to confirm the technical breakout, and if there wasn't one, I could have bought the stock a good 5 or 10% lower.

But "could have" should never exist in a trader's mind. It doesn't help in any way.

So, what about now?

I see the 200 and 50 days simple moving averages coming up to provide support. I see a company that had profits of $0.28 per share over the last four reported quarters (PER = $2.54/$0.28 = 9), and I expect that to only get better.

I'll continue holding TGB, my second copper play.

TGB had a small but positive day yesterday, as $copper rose 0.7% to $313.35. I expect the 50 and 200 days ascending moving averages to provide support, and then a rise over $2.80 will probably unfold.

I'll continue holding TGB.

TGB sent out a positive press release yesterday:

Taseko Adds 74 Million Tons to Gibraltar's Mineral Reserves (http://biz.yahoo.com/iw/061212/0193982.html)

The stock was up 3.5% at its intraday high but closed just 1.56% higher. Better than nothing. I see TGB mining more and more at a lower cost and I also see copper prices rising above $4/lb if/when the current medium term consolidation phase is over.

The only risk I see to this play is that, after being a very long term bull on $copper since 2001, I'm buying near the top here. But ever since the beginning of the commodities bull market, I expected it to be a bull market of ten to fifteen years, as usually happens with commodities, not just five years.

For now I'll continue holding TGB, expecting it to cross $2.8 after this brief consolidation phase.

TGB is coming back on good volume yesterday, I'll continue holding the stock, expecting it to breakout above the $2.74 - $2.8 resistance level.

Small dip on TGB as it still trades between the moving averages support and the descending trendline resistance level. $copper reacted positively to support yesterday.

I'll continue holding TGB, my second copper play. 

www.stockcharts.com is down, isn't it? I can't see today's copper chart.

As for TGB's chart, there wasn't any change, I'm still expecting it to breakout above the medium term resistance trendline you can see on the chart below. Moving averages are coming up to provide support.

I'll continue holding TGB.

 I'm hoping for some good news today.
I have had TGB for a while, so a move up would be very welcome.

;)


Taseko to Release Fiscal 2006 Year End Results on December 18, 2006

Dec 13, 2006 13:33:03 (ET)

VANCOUVER, BRITISH COLUMBIA, Dec 13, 2006 (MARKET WIRE via COMTEX) -- Taseko Mines Limited ("Taseko" or the "Company") (TGB, Trade ), a mining exploration, development and production company, will release its fourth quarter and annual earnings results on Monday, December 18, 2006 after market close and will host a conference call on Tuesday, December 19, 2006 at 11:00 AM Eastern Time (8:00 AM Pacific Time) to discuss these results. The conference call may be accessed by dialing (866)831-6270 in Canada and the United States, or (617)213-8858 internationally, using the passcode 46916913. A live and archived audio webcast will also be available at www.tasekomines.com in the Corporate Events section of the Investor Centre.

The conference call will be archived for later playback until January 19, 2007 and can be accessed by dialing (888)286-8010 or (617)801-6888 and using the passcode 72687670.

QuoteI'm hoping for some good news today.
I have had TGB for a while, so a move up would be very welcome.

;)

I guess you had the news you we're hoping for cumulina :)

Taseko Announces Year End & Q4 Results (http://biz.yahoo.com/iw/061218/0196374.html)

«For the year ended September 30, 2006, Taseko's cash flow from operations was $55.4 million and earnings were $32.9 million or $0.29 per share ($0.26 per share fully diluted), as compared to negative cash flow of $1.8 million and earnings of $23.3 million or $0.23 per share ($0.21 per share fully diluted) in fiscal 2005.

For the fourth quarter of 2006, earnings were $19.1 million or $0.16 per share.»

This means TGB's 2006 trailing earnings multiple is $2.51/$0.26 = 9.65. But, watch this closely:

«For the fourth quarter of 2006, earnings were $19.1 million or $0.16 per share.»

This means the company made $0.16 of those $0.26 just in the 4th quarter. If this net profit margin performance continues through 2007 the company will show 2007 EPS of $0.64, and then the forward earnings multiple would be only $2.51/$0.64 = 3.92. For the stock to get to a fair earnings multiple of 16 it would need to rise to (16/3.92)*$2.51 = $10.24 next year.

This was by far the best quarter ever for TGB, going back to 1996. When I say by far I say this quarter was more than two times better than the second best quarter ever.

Technically the stock touched the 50 and 200 days simple moving averages supports yesterday, with people selling because they feared the quarterly results. They were wrong when they sold. I see TGB easily blowing the $2.74 - $2.80 resistance level this week. It would be very hard for me to explain the market reaction if something like that doesn't happen.

So, I see TGB crossing above the medium term resistance range of $2.74 - $2.80 this week, if not today. I'll continue holding TGB.

Nah, the earnings weren't as good as I was painting them, because there was a tax benefit on the headline figure. I still couldn't figure out how much of the EPS number is related to this tax benefit because there aren't any financial statements on the press release.

But I see the share count, one of my biggest concerns when I held TGB previously, being reduced, since it was 128.43 million and with this Net Income and EPS figures, I see ($19.1 M/$0.16) = 119.375 million shares issued and outstanding.

I need to study this further, but I'll continue holding TGB.

I thought that the conference call went very well.  Today was my entry point.  I think the good quarter will trump the short term trendline.  TGB should be in the $3s very soon.

I got shaked out on this one last month .... It's now time to re-open the position ;)


First chart---> Nov, 04 2006
Second Chart --> Current

Quote from: Terliso on December 19, 2006, 05:58:00 PM
I got shaked out on this one last month .... It's now time to re-open the position ;)


First chart---> Nov, 04 2006
Second Chart --> Current

Terliso, applaud !
It sure looks ready, 50-day held, long consolidation pattern. I think 2007 will be TGB's year.

Taseko Announces Year End & Q4 Results
Monday December 18, 10:00 pm ET
For the fourth quarter of 2006, earnings were $19.1 million or $0.16 per share.
Link for the entire article.....  http://biz.yahoo.com/iw/061218/0196374.html

[audio] Taseko Mines Earnings Conference Call (recorded earlier today)
Link.....  http://biz.yahoo.com/cc/6/75746.html

52wk Range: 0.99 - 4.25
Volume: 2,663,700
Avg Vol (3m): 840,685

Technicals
Last Price Quote is:
9.79%above 13-day EMA
13.97%above 50-day EMA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

Quote from: buddjas1 on December 19, 2006, 01:56:56 PM
I thought that the conference call went very well.  Today was my entry point.  I think the good quarter will trump the short term trendline.  TGB should be in the $3s very soon.

Nice timing buddjas1 :)

We got the long awaited bullish breakout of the medium term descending trendline. I read the earnings press release again and again and it seems to me the 4th quarter fiscal net income (calendar 3rd quarter) had a boost from the following:

«(2) Includes $8.5 million received in settlement of arbitration with Glencore.»

Without this special income, net income would have been $19.1 M - $8.5 M = $10.6 M for the quarter, or $10.6 M/119.375 million shares = $0.09 EPS.

This way, without this special gain, fiscal 2006 EPS would be $0.15 and the trailing earnings multiple would be 18.8.

But, if we multiply this 4th quarter normalized EPS by 4 quarters, we get $0.36 EPS for a full year. To get to the copper mining industry average earnings multiple of 10, TGB needs to move up to about $3.6.

If the stock trades to that point today, I'll sell it, but of course I don't expect that, and with incoming information, who knows if $copper doesn't give a hand here. Again, one of my biggest fears on TGB was dilution, because in the past they increased the number of authorized shares to "unlimited", but those fears were unfounded, as the company is in fact buying back shares, as you can see from the reduced number of shares outstanding used in calculating the EPS figures.

Bought some TGB @ 2.88$!

I'm ready for a pop - in earlier this year at 2.47 - now let's see some action :)

TGB was all over the map yesterday. Didn't left any gap open. People are worried about $copper breaking down below $3 per pound yesterday. I also worry about that, but the main support was always standing below $3, as you can check on this $copper chart:

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=30648;image)

It looks bearish and if it breaks down some more, it will definitely turn into a descending trend. I guess I'll just have to wait a few more days. Anyway, copper mining stocks were already discounting this, hence their much below average valuation.

I'll keep on holding TGB, its results were extraordinary, but, reading the initial analysis, this was a macro play on $copper, and if that goes, TGB will go too. For now I'll continue holding.

I sold today for a decent gain.  After the quarter TGB had, TGB should be reacting much better than this.  I think the $Copper is scaring investors; it did me. 

Quote from: buddjas1 on December 21, 2006, 01:58:51 PM
I sold today for a decent gain.  After the quarter TGB had, TGB should be reacting much better than this.  I think the $Copper is scaring investors; it did me. 

Thanks for your opinion on TGB buddjas1 :)

This time we disagree. You see, I've been holding and waiting for this bullish breakout for some time now. Now that it happened (I think today's session was actually constructive), I can't lose my position just because I fear $copper goes down a bit more.

The stock is acting right. As I wanted it to act. Selling now would be a sign of disrespect to the market.

I'll keep on holding TGB.

I agree with David.

When TGB was in play I was apprehensive because we didn't waited for the breakout (I only entered at 3.33% at that time), but before yesterday we finally got our beloved breakout which gave me the required confidence to put more 3.33% at TGB.

The picture showed a breakout, and IMHO, we should follow it  :)

Buddjas1, David and Dracull,

Good discussion, guys.  Applauds.

I agree with all of you, which probably is going to confuse the issue.  :D

The problem that I've got with TGB, is that I don't think that it has broken out, and if it has, it definitely hasn't broken out on a closing basis, so the breakout is very suspect, at best.

In early November, TGB had a breakout above an Inverse H&S (pattern in green).  The neckline was 2.56...2.57...2.59.  The breakout occurred on November 7, and TGB closed above the neckline.  That looked good.

November 8, TGB closed back below the breakout.

UGH.  :P

Sometimes that happens, for a fakeout, and you just have to grit your teeth and hang in there, and wait for it to breakout again.

TGB broke out again November 9, and everything looked fine again.

November 10, however, TGB put in a Bearish Engulfing candle, and closed back below the neckline breakout.

UGH.  :P

Readers of the TGB folder on The Stock Pick Board will remember that I had missed  my buy price at something like 2.48 prior to the breakout, but when I saw that SECOND close back below the neckline on a bearish candle and had the chance to buy it at 2.48, I no longer wanted the stock.

UGH.  :P

Down she went, to fill the 2.18 gap.   :P

Sorry for the lengthy saga of that false breakout, but the reason for it is that we might have the same thing in this time-frame: another false breakout.

I'll show you what I mean in the next post.

Before we move on to that, look at the horizontal trendline (red) connecting the summer highs of 2.90...2.90...2.89.  Even if that's a valid trendline (meaning that the market is responding to it), TGB hasn't closed above it, so we have a "break above it" after earnings, but we don't have a confirmed breakout (a CLOSE above it).

The "break above it" on December 20 also was on what looks to be a Bearish Long-Legged Doji Star Hangman, followed by yesterday's Bearish Hangman candle, clearly back below the breakout.  Yesterday's high only was 2.82.

One thing I'm sure we all agree on: TGB needs to get above 3.00.  :D

Excelent post Melf!

There are any number of ways to draw trendlines and patterns, and technicians don't always agree, which is fine, but what all technicians want is confirmation from the market that we're "following the program," and not deceiving ourselves by thinking that we've got something that we don't really have.

Is it a breakout, or isn't it?

That isn't always clear, especially when the numbers are a little off, like that 2.56...2.57...2.59 neckline (green) in the last post.  

Yes, that pattern broke out, even on a closing basis, but the breakout was negated by the closes back below it.

The market can be tricky, as we all know by now.  ;)

Currently in TGB, we got a "break above" 2.90...2.90...2.89..but, not a close above it, and what else makes me question the breakout is the fact that the high of the May 15 gap down candle was 2.99.

The December 20 post-earnings high: 2.99 exactly.

Mighty suspicious, that we can't do better than that on earnings, as Buddjas1 suggested.

But, I also agree with David and Dracull about respecting the market and playing a breakout.

I'm just not convinced that TGB has broken out at all, given the fact that the market responded to 2.99 so far, not the 2.90...2.90...2.89 highs, if you see what I mean.

2.99 looks like the number to beat here.

Good luck, guys.  I'm in NXG, and would like to see BOTH stocks rally.  ;)

Quote from: Dracull on December 22, 2006, 05:09:12 AM
Excelent post Melf!

Thanks, Dracull!  ;)

I agree with Melf Elf's technical view on TGB (applaud), there wasn't any major, or let me say, significant, bullish breakout on TGB.

With help from his insight and chart I can now clearly see that the significant resistance the stock needs to close above is $2.99.

QuoteGood luck, guys.  I'm in NXG, and would like to see BOTH stocks rally.   ;)

Good luck for NXG Melf Elf, but I think you'll agree that NXG also didn't make a major/significant bullish breakout. At least not yet.

There were some news after the close on Friday:

Taseko Announces Matching Bid for bcMetals That Pays Sooner (http://biz.yahoo.com/iw/061222/0198086.html)

They're raising the bid for BcMetals shares from $1.05 to $1.10, but reducing the minimum tendering threshold from 66 2/3% to 50% plus one. I think this won't have a material effect on the stock on Tuesday's trading.

Fundamentally I have some new worries that I wish I had seen earlier. My fundamental service says the company had revenues of just $20 M this latest quarter. That would have been the worst quarter since the company restarted production in Q1 2005.

I've checked the figures and my fundamental service seems right. Although that's never mentioned on the company's press release, we can make the following calculus to get Q4's revenues:

QuoteCopper and molybdenum sales revenue of $161.9 million in fiscal 2006 was an increase from the $87.6 million achieved in the previous year.

But below there's a small note saying these are Canadian dollars, not US dollars. The current USD/CAD exchange rate is 0.86393, so fiscal 2006 revenues were 161.9*0.86393 = $139.87 M (USD, of course).

In Q3 I have $53 M in revenues, in Q2 $32 M and in Q1 $35 M. So Q4 revenues were $139.87 M - $53 M - $32 M - $35 M = $19.87 M.

So when they say the following:

QuoteFor the fourth quarter of 2006, earnings were $19.1 million or $0.16 per share.

Again, this is Canadian Dollars, so Q4 Net Income was 19.1 million*0.86393 = $16.5 M USD. With just about $20 M in revenues it means almost all, if not all of the net income came from special, non recurrent items.

Also my EPS estimates are all wrong, because the press release was all in Canadian Dollars, not US Dollars.

I guess the market also didn't see the figures were in CAD and the special items, given the rally the stock had on what a deeper look says were awful results. I guess I was lucky.

Also, it looks clear now that I was wrong on my $copper macro outlook, $copper broke down below key long term support and is definitely bearish, as you can see on the graph below.

Given this analysis the proper thing to do is to SELL TGB at Tuesday's open.

Quote from: David Randolph on December 24, 2006, 08:53:26 AM
Good luck for NXG Melf Elf, but I think you'll agree that NXG also didn't make a major/significant bullish breakout. At least not yet.

Thanks, David.

NXG had a breakout this week of a 7-month Bullish Falling Wedge, but with copper being down, and with the stocks getting "Cramerized," as Cumulina puts it, by his call for a collapse in copper, NXG might get tainted with the same brush due to its exposure to copper, so it remains to be seen whether or not the breakout will be a major/signifcant one.

I'm going to stick with my trading plan that I outlined in the NXG folder on The Stock Picking Board.  I'll stop out my remaining 80% long position any day that it's set to close below 3.21-3.20 support, for an average 3-4% gain on the entire trade.

TGB update:  Developed a shallow ascending channel.  Recently tested the base.  Support @ 2.30.  Resistance at 2.53-2.55.  Looks like it might be making the head of a hird inverse H&S!!!  Last to have broken down, but if it bounces, it could test the top of the channel at 2.90.  So technical risk = 3.8%, reward could be 21.8%!  Nice ratio.

On watch. ;)
TGB still hanging at the support area.

Applaud Terliso....... ;D 
Up 8.88% today, someone has lit the fire under this one.
We should be buying at this still extremely good value.

52wk Range: 1.93 - 4.25
Volume: 2,579,377
Avg Vol (3m): 747,362

Technicals
Last Price Quote is:
8.00%above 13-day MA
8.89%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/

Looking good now my friends ;)

Second gap is now closed, one more to go. ;)

Got in a couple of weeks back, thanks guys.

uc.

TGB still looking strong ;)

Yes, a very nice move up.......
I Like it longer term,
short term Resistance at these levels, may pullback to the 13 day.

Support @ $3.44...3.22...2.93
Resistance @ $3.75...4.25

52wk Range: 1.93 - 4.25
Volume: 2,677,694
Avg Vol (3m): 950,989

Technicals
Last Price Quote is:
9.56%above 13-day MA
20.07%above 50-day MA
RS Rating: N/A 
MACD is Bullish

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

Below are the 6 month and 3 year charts.......

Cup with Handle (continuation) Pattern on the long chart.98 composite ranking from IBD.
Last composite ranking from IBD 98.

Fundamentals, I would think...
Environmental permit for Prosperity was submitted, possibly some expect a quick turnaround on the decision. Also, there was news about Continental's exploratory drilling (TGB has a deal with Continental), copper prices are still holding, new trucks in the pit, Raymond James rated it a strong buy, and CEO has been buying. Hard to find a reason for this fundamentally to not go up. Not too far from the 52 week high. If it punches through that, it could get very interesting.
If there is a buyout offer, I would expect it to have to be a very sweet deal for the stockholders. Management is having far too much fun running this company to recommend a sale without it being very attractive. I don't expect an offer, nor do I want one, at least, not until the Prosperity permit ruling is in.

Copper prices going up or down tend to drive this stock. We seem to be in an upward copper price climb so this may explain the stock price.
I've seen in other companies wanting to buy it.
There are some South American plays for Canadian mining companies that may be giving this company a boost in price as well.


52wk Range: 1.96 - 3.90
Volume: 1,165,045
Avg Vol (3m): 1,107,230

Technicals
Last Price Quote is:
4.41%above 13-day MA
11.66%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

This stock seems to be "on sale" at the moment .. anyone else think it may be a good entry here?  Or is something going on that is driving it down?

Press Release Source: Taseko Mines Limited


Taseko Adds 128 Million Tons to Gibraltar Mineral Reserves
Thursday September 6, 12:40 pm ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 6, 2007 -- Taseko Mines Limited ("Taseko" or the "Company") (Toronto:TKO.TO - News) (AMEX:TGB - News) announces that the recently completed 2007 drilling program at its 100% owned Gibraltar Copper-Molybdenum Mine has resulted in an addition of 128 million tons to the mineral reserves. As a result, the total mineral reserves at Gibraltar have increased to 384 million tons at 0.310% copper and 0.009% molybdenum, containing 2.4 billion pounds of copper and 69 million pounds of molybdenum.

 
In addition to the 384 million tons of proven and probable reserves, there are more than 500 million tons of measured and indicated resources at a similar grade.

The Gibraltar concentrator is undergoing a major 2-phase expansion which will be complete by the end of 2008. The increase in the mineable tonnage will allow the expanded milling operations to be maintained at 55,000 tons per day for 17 years, averaging 115 million pounds of copper and 1.4 million pounds of molybdenum per year, which will make Gibraltar the second largest open pit copper mine in Canada.

Russell Hallbauer, President and CEO of Taseko, commented, "These new mineral reserves plus the more than 500 million tons of measured and indicated resources, in combination with the nearly complete mill expansion, puts Taseko at the forefront of Canadian mining companies." Mr. Hallbauer continued, "The reserves and resources at Gibraltar and the one billion tonnes of reserves and resources at the Company's Prosperity Gold-Copper Project1 contain 11.0 billion pounds of copper, all located in the mining-friendly jurisdiction of British Columbia, creating vast opportunities for the Company and setting Taseko apart from its peers."

The mineral resource and reserve estimations were completed by Gibraltar mine staff under the supervision of Ian S. Thompson, P.Eng., Superintendent of Engineering and a Qualified Person under National Instrument 43-101. Mr Thompson has verified the methods used to determine grade and tonnage in the geological model, reviewed the long range mine plan, and directed the updated economic evaluation. The estimates used long term metal prices of US$1.50/lb for copper and US$10.00/lb for molybdenum and a foreign exchange of C$0.80 per US dollar. Mr Thompson has reviewed this release. A technical report will be filed on www.sedar.com.

For further details on Taseko and its properties, please visit the Company's website at www.tasekomines.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Russell Hallbauer, President and CEO

Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, lack of continuity of mineralization, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com.

Information for US Persons Concerning Estimates of Measured and Indicated Resources

This news release also uses the terms 'measured resources' and 'indicated resources'. Taseko Mines Limited advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.

No regulatory authority has approved or disapproved the information contained in this news release.

Contact:
     Contacts:
     Taseko Mines Limited
     Shawn Wallace
     Investor Services
     (604) 684-6365 or Toll Free : 1-800-667-2114
     (604) 684-8092 (FAX)
     Website: http://www.tasekomines.com
     
--------------------------------------------------------------------------------

Pressed for time tonight...Oversold !


52wk Range: 1.96 - 5.59
Volume: 2,547,700
Avg Vol (3m): 1,728,180
Market Cap: 594.56M
P/E (ttm): 12.70
EPS (ttm): 0.36

Technicals
Last Price Quote is:
11.00%above 13-day MA
8.95%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 11/14/2007
Last Analyst Rating: N/A

8:41AM Taseko Mines highlights Q4 sales; Gibraltar Mine sold 13.2 mln pounds of copper (TGB) 5.72 : Co announces an update on quarterly sales and production results for the fiscal year ending Sep 30, 2007. In particular, the co highlights its Q4 production and sales during which the Gibraltar Mine produced 16.8 mln pounds and sold 13.2 mln pounds of copper at an average sales price of $3.63/pound. In addition to the $3.63 realized for Q4 shipments, an additional $0.10/pound was realized over the estimated rev for Q3 shipments. Russell Hallbauer, President and CEO, stated: "Management's decision to leave Gibraltar production unhedged has resulted in increased returns from sales as the price of copper has risen. With the combination of expected ongoing strength in metal prices and planned production growth, we believe Taseko is poised to continue to generate significantly increasing cash flow from operations."

8:41AM Taseko Mines highlights Q4 sales; Gibraltar Mine sold 13.2 mln pounds of copper (TGB) 5.72 : Co announces an update on quarterly sales and production results for the fiscal year ending Sep 30, 2007. In particular, the co highlights its Q4 production and sales during which the Gibraltar Mine produced 16.8 mln pounds and sold 13.2 mln pounds of copper at an average sales price of $3.63/pound. In addition to the $3.63 realized for Q4 shipments, an additional $0.10/pound was realized over the estimated rev for Q3 shipments. Russell Hallbauer, President and CEO, stated: "Management's decision to leave Gibraltar production unhedged has resulted in increased returns from sales as the price of copper has risen. With the combination of expected ongoing strength in metal prices and planned production growth, we believe Taseko is poised to continue to generate significantly increasing cash flow from operations."

The "TGB" Threads in Previous 3SOF Picks
Have been merged.
Got the go ahead to do so from Ramsburg.
I will be working here on this board to merge other threads also.


Good trading to all !   

Regards,
Your fellow trader @3SOF
setravis     



Today's chart........

June 1st, 2007:

TGB initial video analysis:

Aside from being solid fundamentally, look at the chart.
Nice shape pointing in the right direction.
Has to break one way or the other, and, since it is solid fundamentally, I am figuring it will break more to the upside. Of course, what do I know? 

52wk Range: 2.22 - 6.27
Volume: 2,441,425
Avg Vol (3m): 1,387,120

Q4 results from Dec 12th:
http://biz.yahoo.com/iw/071212/0339491.html

November presentation:
http://www.tasekomines.com/i/tko/TKO_Nov07_Eigenkapital-presentation.pdf

chart quotation:(inverse head and shoulder coming ?)

Quote from: setravis on December 11, 2007, 08:55:54 PM
Aside from being solid fundamentally, look at the chart.
Nice shape pointing in the right direction.
Has to break one way or the other, and, since it is solid fundamentally, I am figuring it will break more to the upside. Of course, what do I know? 

Now might be the time... ;D
Long TGB after doing some DD last night, see you guys higher.
What are your thoughts ?   ???
I like this one and MGN and CDE.


52wk Range: 2.43 - 6.27
Volume: 4,139,233
Avg Vol (3m): 1,391,250
Market Cap: 890.57M
P/E (ttm): 16.20
EPS (ttm): 0.392

Technicals
Last Price Quote is:
20.92%above 13-day MA
33.87%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 05/19/2008
Last Analyst Rating: N/A

I was wrong on my outlook for TGB due to the following factors:

1 - Dilution over the past 12 months was heavy, but not as much as I expected;

2 - The Canadian dollar strengthen significantly versus the USD;

3 - The $copper price almost doubled;

4 - The earnings multiple of copper mining companies expanded significantly, from roughly 11 to the current 15.

What does this tell me?

It's very hard to make forecasts, especially for the future ;D

Fundamentals keep changing and usually the stock price precedes the change in fundamentals.

Anyway, TGB is here at the Watch List, wild swings over the medium term:

Got to update things to know where they are at...
no updates ...no knowledge !

updated chart look....

The Golden Cross!

52wk Range: 0.54 - 5.46
Volume: 3,744,680
Avg Vol (3m): 1,422,610

Technicals
Last Price Quote is:
11.69%above 13-day MA
22.07%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 08/11/2009
Last Analyst Rating: Buy

Updated chart look...
Looking good!

Bouncing again off the 50-day MA... ;D
Buy again to gain more
is among the most solvent and profitable mining companies.
Operations in molybdenum, gold, and copper mining and exploration for niobium in Canada.


52wk Range: 0.54 - 5.20
Volume: 1,957,277
Avg Vol (3m): 1,920,160

Technicals
Last Price Quote is:
1.36%above 13-day MA
9.64%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 08/11/2009
Last Analyst Rating: Buy

Under the radar.......
13-day MA crossing over the 50-day MA... ;)


52wk Range: 0.54 - 3.88
Volume: 3,040,021
Avg Vol (3m): 1,760,190

Technicals
Last Price Quote is:
18.84%above 13-day MA
25.28%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 08/11/2009
Last Analyst Rating: Buy

Taseko Announces Second Quarter Financial Results

VANCOUVER, Aug 11, 2009 /PRNewswire-FirstCall via COMTEX/ -- Taseko Mines Limited ("Taseko" or the "Company") reports the results for the three and six months ended June 30, 2009. This release should be read with the Company's Financial Statements and Management Discussion Analysis, available at www.tasekomines.com and filed on www.sedar.com . Currency is Canadian dollars unless otherwise indicated.

For the quarter ended June 30, 2009, the Company reports an operating profit of $16.7 million and net earnings of $11.4 million or $0.07 per share ($0.06 per share fully diluted). This compares to an operating profit of $6.6 million and net earnings of $3.5 million for the quarter ended March 31, 2009. Revenue for the quarter was $52.6 million from the sale of 21.0 million pounds of copper and 216,000 pounds of molybdenum at an average realized price of US$2.10 per pound for copper and US$10.56 per pound for molybdenum.

Russell Hallbauer, President and CEO of Taseko commented, "Since the beginning of the year our operating margins have increased on a month over month basis, as a result of cost containment initiatives and the strengthening copper price.

With our balance sheet in very good shape, and growing cash flows, we are aggressively working to complete the few remaining capital expenditures required to boost our concentrator throughput capacity to 55,000 tons per day.

Our newly installed Vertimill, along with additional flotation capacity, will give immediate copper recovery improvements. We expect to increase the ore crushing capacity by mid-2010, with the commissioning of our new in-pit crusher and overland conveyor system. The combination of the additional flotation capacity and increased crushing and grinding capabilities will increase our metal production capacity at Gibraltar to an estimated 115 million pounds per year by the middle of 2010.

As well, Gibraltar's management team recently completed a Business Improvement Initiative. This initiative has identified $20 million worth of annual cost saving improvements that we are presently engaged in addressing.

In conjunction with increased concentrator throughput, improved metal recoveries, a reduction of mining costs as we maximize the productive capacity of our new mining fleet and our focus on the Business Improvement Initiative, Gibraltar's management team will continue to push Gibraltar down the cost curve enhancing our profitability."

Mr. Hallbauer concluded, "We are also extremely pleased with the progress of the Environmental Review of our Prosperity Project over the past three months. The Provincial and Federal agencies are progressing with their work as we had envisioned.

The Federal Department of Fisheries and Oceans has provided clarification on its evaluation of our compensation plan for Fish Lake and is harmonizing those efforts with Provincial agencies. This is a very important step for the Project.

We anticipate receiving our Environmental Assessment and we see no obvious encumbrances that would prevent Prosperity from becoming a long life mine, like Gibraltar, contributing economic returns to our shareholders and creating thousands of direct and indirect jobs in the Cariboo region."

The Gibraltar mine operated for the first six months of 2009 under a plan initiated in November 2008, based on 45,000 tons per day ("tpd") mill throughput and mining at a significantly reduced strip ratio. This new operational plan, along with declining input costs and the realization of the Phase 1 expansion, resulted in substantially reduced costs compared to prior years. The mine is currently reviewing a return to deposit average strip ratio based on recent strength in copper and molybdenum demand and corresponding increases in metal prices.

Copper in concentrate production during the three-month period ended June 30, 2009 was 19.1 million pounds, a decrease from the 19.7 million pounds produced in the first quarter of 2009 as a result of lower copper grade, partially offset by improved recovery. Three-month molybdenum in concentrate production increased from the first quarter of 2009 because of higher grades.

Copper in concentrate production was 38.3 million pounds and molybdenum in concentrate production was 404,000 pounds in the six months ended June 30, 2009. Copper cathode produced over the six months has been 700,000 pounds. These figures are in line with annual production guidance of 80 million pounds of copper and 800 thousand pounds of molybdenum.

Cash costs of production during the quarter ended June 30, 2009 was US$1.30 per pound, a 60% decrease in cost from the same quarter of 2008, and a 10% increase over the first quarter of 2009. Over the six months of 2009, the average cost of production has been US$1.23 per pound.

Fixed Infrastructure Upgrades and Installations

Construction of the Phase 1 mill upgrade was completed in February 2008. The ramp up to the rated processing capacity of 46,000 tons per day has been essentially achieved during the first half of 2009 as mill operations personnel continue to refine the metallurgical performance relating to grind size at higher mill throughput rates and metal recovery. Copper recoveries have increased from 73.2% in October 2008 to average 83.0% in the first half of 2009.

Current upgrade construction work consists of modernizing and increasing the capacity of the regrind and cleaner flotation circuits to increase throughput capacity and improve metal recovery. This portion of the work will be completed in August and recovery improvements are expected to be realized quite quickly. Further planned upgrades consist of improvements to ancillary circuits along with installation of a two-stage tailings pumping system, designed to increase concentrator capacity from 46,000 to 55,000 tpd. In the fall of 2009, work is expected to resume on the installation of an in-pit crusher and conveyor system and a Semi-Autogenous Grinding ("SAG") mill direct feed system, which will eliminate the materials handling issues in the secondary crusher circuit. Ramp up to 55,000 tpd will occur following completion of the above infrastructure upgrades and installations.

Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, completion of the mill upgrade on time estimated and at scheduled cost, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com .

SOURCE Taseko Mines Limited


   

updated chart look...
TGB has shown one thing, it is a great copper stock that moves with its parent commodity.

52wk Range: 0.54 - 3.17
Volume: 3,498,978
Avg Vol (3m): 1,982,970

Technicals
Last Price Quote is:
18.48%above 13-day MA
40.20%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 11/12/2009
Last Analyst Rating: Buy

updated chart look...

Gold from Prosperity
Taseko Mines has historically focused on mining copper and molybdenum from its Gibraltar mine in British Columbia. But if all goes according to plan, that could soon change.

The company hopes its Prosperity venture is auspiciously named and believes that the massive gold and copper project could be a huge boon for shareholders. As of November, Taseko estimated that the Prosperity project had proven and provable gold and copper reserves of 7.7 million ounces and 3.6 billion pounds, respectively.

The best part about Prosperity? The market may not be attributing any value to the project. If this turns out to be true, this could be a small cap that will be on everyone's radar really fast once Prosperity comes online.

52wk Range: 0.71 - 5.13
Volume: 6,461,824
Avg Vol (3m): 2,708,970

Technicals
Last Price Quote is:
15.20%above 13-day MA
28.38%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 03/23/2010
Last Analyst Rating: Buy

VANCOUVER, Jan 15, 2010 /PRNewswire via COMTEX/ -- Taseko Mines Limited (TGB, Trade ) ("Taseko" or the "Company") received the environmental assessment certificate for its proposed Prosperity Gold-Copper Project from the BC Provincial Ministry of Environment on January 14, 2010.

"Obviously we are tremendously pleased with the Provincial Government's decision. We put considerable effort and Company resources into the documentation and process and to have now received this approval is both gratifying and rewarding," says Taseko President & CEO Russell Hallbauer.

"The decision will undoubtedly be well received by the people of Williams Lake and the Cariboo, so many of whom worked tirelessly to make their views and support for Prosperity known and understood. The project was subjected to a complete and thorough examination by government departments, agencies, regulators and by the public. The Provincial process is demanding but it is also fair and we acknowledge the hard work of the Provincial Government in drawing the matter to a conclusion that will provide tremendous benefits to the social and economic future of British Columbia."

"The Government of British Columbia has authority and responsibility for mine development in the Province. Now that they have given their approval we will proceed to apply for and secure the necessary leases, licenses and permits required to advance the project," concluded Mr. Hallbauer.

Taseko will host a conference call for analysts and investors to discuss the Prosperity Project on Tuesday, January 19, 2010. Details will follow later today.

The Information Bulletin published today by the BC Ministry of Environment provides additional details about the process conducted by the Ministry of Energy, Mines and Resources and the Ministry of Environment. The Information Bulletin can be found at http://www.gov.bc.ca/env/index.html



    Russell Hallbauer
    President & CEO





No regulatory authority has approved or disapproved of the information contained in this news release.

Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, continued availability of capital and financing, the ability to obtain and maintain required permits, including environmental, construction and mining permits and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at www.sedar.com .

SOURCE Taseko Mines Limited

Taseko Announces First Quarter Production Results

Press Release Source: Taseko Mines Limited On Tuesday April 6, 2010, 4:58 pm EDT
VANCOUVER, April 6 /PRNewswire-FirstCall/ - Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") reports unaudited first quarter production results for its Gibraltar Mine.

For the first quarter of 2010, the Gibraltar Mine produced 23.2 million pounds of copper and 194 thousand pounds of molybdenum.

A quarter over quarter production comparison is below:




    -------------------------------------------------------------------------                                                          Q4 2009    Q1 2010    -------------------------------------------------------------------------    Mill Throughput (millions, tons)                          3.2        3.6    -------------------------------------------------------------------------    Copper Recoveries (%)                                    84.1       89.8    -------------------------------------------------------------------------    Copper Production (millions, lbs)                        17.4       23.2    -------------------------------------------------------------------------


The improved first quarter production performance was primarily a result of continued optimization of recently upgraded concentrator components and circuits. Mill throughput has steadily increased and tons per operating day reached 45,000 tons in the quarter, even during the operationally challenging winter months, as material handling issues were effectively managed. Metal recoveries have significantly improved since the tower mill was integrated into the recovery circuit, increasing regrind capacity. Additionally, copper grade for the quarter was approximately 10% above life of mine average grade.

Russell Hallbauer, President and CEO of Taseko, commented, "These sustainable production improvements are reflecting the modern, efficient mining operation we have built. In approximately six months, major construction projects will be complete and the targeted annual production level of 115 million pounds of copper will soon follow. Simultaneous with our production ramp up, copper prices are at two-year highs putting Taseko in an excellent position to move forward with other growth initiatives."



Russell Hallbauer

President and CEO




    No regulatory authority has approved or disapproved of the information                       contained in this news release.                         Forward Looking Statements


This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address intended future agreements, future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, completion of the mill upgrade on time estimated and at scheduled cost, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission or the Company's home jurisdiction filings at http://www.sedar.com/.

Addition of prosperity property gives a long-term prospect to add to


52wk Range: 1.19 - 6.03
Volume: 4,159,794
Avg Vol (3m): 2,701,950
Market Cap: 1.11B
P/E (ttm): 100.85
EPS (ttm): 0.059
Div & Yield: N/A (N/A)


Technicals
Last Price Quote is:
13.32%above 13-day MA
23.22%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $116.49 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 05/12/2010
Last Analyst Rating: Buy


Below are the 6 month and 1 year charts....... ;) ;D
and also a 9 month chart

VANCOUVER, Sept 27, 2010 /PRNewswire via COMTEX/ -- Taseko Mines Limited (TGB) ("Taseko" or the "Company") is pleased to announce the appointment of Mr. David Rouleau as Vice President, Operations. Mr. Rouleau will be responsible for overseeing all operational aspects of the Gibraltar Mine as well as the development and ultimate operation of the Prosperity Mine.

Mr. Rouleau has over two decades of experience in the mining and oil and gas industries. He holds a Bachelor of Science Mine Engineering Degree from the South Dakota School of Mines and a Mining Technology Diploma from Haileybury School of Mines.

Prior to joining Taseko, Mr. Rouleau was a key member of Canadian Natural Resources senior management team developing the $10 billion Horizon Oil Sands Project in Fort McMurray, Alberta. Mr. Rouleau was responsible for all aspects of the 200 million tonne per year mining operation supporting 110,000 barrels per day of synthetic crude oil production.

Mr. Rouleau's background also includes 17 years with Teck Cominco in various mine operations and engineering roles.

John McManus

Senior Vice President, Operations

No regulatory authority accepts responsibility for the adequacy or accuracy of this release.

SOURCE Taseko Mines Limited

TGB  Taseko Announces Strong Third Quarter Production Results... 

VANCOUVER, Oct 4, 2010 /PRNewswire via COMTEX/ -- Taseko Mines Limited (TGB) ("Taseko" or the "Company") reports unaudited third quarter production results for the Gibraltar Mine.

For the third quarter of 2010, Gibraltar produced 25.7 million pounds of copper and 265 thousand pounds of molybdenum. Third quarter copper production was 5.6 million pounds higher than the previous quarter and 11.7 million pounds higher than the corresponding quarter in 2009.

The mine and mill continued to perform at improved levels. With copper recovery stabilized at nearly 90%, the focus of operations has been mill throughput and molybdenum recovery.

Construction of the new SAG mill direct feed system has commenced and the excavation of the new ore stockpile is nearly finished. It is anticipated that this project will be complete by the end of 2010 with commissioning early in the new year.

Russell Hallbauer, President and CEO of Taseko, commented, "This new production level is a result of the capital we started investing in 2006. Including all of the upgrades that have been made to the concentrator circuits, reserve development, plus new mining equipment, we will have spent in excess of $300 million. The result is a modern, low cost, efficient copper mine which will generate significant cash flow for 25+ years and allow us to further grow our Company."

Note: Gibraltar is a Joint Venture owned by Taseko Mines Limited (75%) and Cariboo Copper Corp. (25%). All figures are reported on a 100% basis.

Russell HallbauerPresident and CEO

No regulatory authority has approved or disapproved of the information contained in this news release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

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:

uncertainties and costs related to the Company's exploration and development activities, such as those associated with continuity of mineralization or determining whether mineral resources or reserves exist on a property;

uncertainties related to the accuracy of our estimates of mineral reserves, mineral resources, production rates and timing of production, future production and future cash and total costs of production and milling;

uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project;

uncertainties related to our ability to complete the mill upgrade on time estimated and at the scheduled cost;

uncertainties related to the ability to obtain necessary licenses permits for development projects and project delays due to third party opposition;

uncertainties related to unexpected judicial or regulatory proceedings;

changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations, particularly laws, regulations and policies;

changes in general economic conditions, the financial markets and in the demand and market price for copper, gold and other minerals and commodities, such as diesel fuel, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;

the effects of forward selling instruments to protect against fluctuations in copper prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk;

the risk of inadequate insurance or inability to obtain insurance to cover mining risks;

the risk of loss of key employees; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;

environmental issues and liabilities associated with mining including processing and stock piling ore; and

labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

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.com and home jurisdiction filings that are available at www.sedar.com .

SOURCE Taseko Mines Limited

TGB TASEKO ADDRESSES OCTOBER 14, 2010 STOCK PRICE DECLINE ...

VANCOUVER, Oct 14, 2010 /PRNewswire via COMTEX/ -- Taseko Mines Limited (TGB) ("Taseko" or the "Company") announces that it is unaware of any information that would cause the price of the Company's stock to change materially, as occurred on October 14, 2010.

Russell Hallbauer President and CEO

No regulatory authority has approved or disapproved of the information contained in this news release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

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:

uncertainties and costs related to the Company's exploration and development activities, such as those associated with continuity of mineralization or determining whether mineral resources or reserves exist on a property;

uncertainties related to the accuracy of our estimates of mineral reserves, mineral resources, production rates and timing of production, future production and future cash and total costs of production and milling;

uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project;

uncertainties related to our ability to complete the mill upgrade on time estimated and at the scheduled cost;

uncertainties related to the ability to obtain necessary licenses permits for development projects and project delays due to third party opposition;

uncertainties related to unexpected judicial or regulatory proceedings;

changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations, particularly laws, regulations and policies;

changes in general economic conditions, the financial markets and in the demand and market price for copper, gold and other minerals and commodities, such as diesel fuel, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;

the effects of forward selling instruments to protect against fluctuations in copper prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk;

the risk of inadequate insurance or inability to obtain insurance to cover mining risks;

the risk of loss of key employees; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;

environmental issues and liabilities associated with mining including processing and stock piling ore; and

labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

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.com and home jurisdiction filings that are available at www.sedar.com .

www.tasekomines.com

SOURCE Taseko Mines Limited

52wk Range: 2.57 - 7.23
Volume: 7,310,508
Avg Vol (3m): 2,218,460
Market Cap: 1.26B
P/E (ttm): 11.08
EPS (ttm): 0.61
Div & Yield: N/A (N/A)


Technicals
Last Price Quote is:
11.33%above 13-day MA
30.81%above 50-day MA

Taseko Mines Dropped: What You Need to Know...

What: Canadian miner Taseko Mines (NYSE: TGB) saw a wild intraday movement at about 2:30 p.m. ET, dropping more than 30% in about five minutes on heavy volume. Reminiscent of the recent "flash crash," it quickly recovered, but is still down 10% on the day.

So What: There's no news out there yet to explain the move. President and CEO Russell Hallbauer issued a statement saying that management "is unaware of any information that would cause the price of the Company's stock to change materially, as occurred on October 14, 2010."

The stock had been trading up as much as 11% before the drop, and had hit a 52-week high. The upward movement was largely because of an upgrade from Jennings Capital analyst Peter Campbell. According to The Globe and Mail, Jennings issued a research note that was bullish on copper prices and upped its price target on Taseko by 28% to $10.

Now What: Other miners, such as Freeport-McMoRan Copper & Gold (NYSE: FCX) and Southern Copper (Nasdaq: SCCO), did not experience similar movements. Our advice, of course, is not to make rash decisions when little information is available.

What a shakeout for TGB last 2 trading days.

Ten Stocks With Extreme Investor Optimism...

One of these stocks listed below ! ;)

The following is a list of stocks seeing excessive optimism, as defined by analyst ratings, institutional ownership trends and options market activity.

All of these stocks have analyst ratings of "Buy" or better. Analyst ratings are presented on a linear scale, with ratings close to 1 indicating a "Strong Buy" analyst recommendation. Analyst ratings sourced from Finviz.

All of these stocks have seen institutional inflows over the last three months. Institutional data sourced from Reuters, based on holdings as of Friday, October 22.

All of these stocks have a large number of open call option positions relative to put option positions, i.e. bullish options market sentiment. Options data sourced from Schaeffer's.

Is this extreme optimism justified? If you're a contrarian, this bullishness might raise a flag.

The list has been sorted by change in institutional ownership over the last three months.

(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=49603)

Taseko Mines Ltd. (TGB): Copper Industry. Market cap of $1.16B. Analyst rating at 2. Call open interest at 40,939 vs. put open interest at 11,834 (Put/Call ratio at 0.29). Institutional investors currently own 40,863,311 vs. 40,295,009 shares held 3 months ago (+1.41% change). The stock has gained 101.94% over the last year.

Taseko Mines Responds to the Federal Government's Decision on Prosperity...

Press Release Source: Taseko Mines Limited On Tuesday November 2, 2010, 6:26 pm EDT

VANCOUVER, Nov. 2 /PRNewswire/ - The Federal Minister of Environment has this afternoon announced the Prosperity mine project, 'as proposed', cannot be granted federal authorizations to proceed.


Once the Company has had the opportunity to fully evaluate and understand the process whereby the Federal Government came to that conclusion, contrary to the Provincial Government decision, we will be in a better position to evaluate our options.


Russell Hallbauer, President and CEO of Taseko, stated, "We are extremely disappointed by this decision, not only for our shareholders but for the communities that were relying on the development of Prosperity to help offset the economic situation in the Cariboo-Chilcotin. Our next steps will be discussions with both the Federal and Provincial Government's to look at options so that this mining project can move forward and meet the criteria that the Federal Government deem appropriate."




Russell Hallbauer
President and CEO



No regulatory authority has approved or disapproved of the information contained in this news release.


CAUTION REGARDING FORWARD-LOOKING INFORMATION

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:


•uncertainties and costs related to the Company's exploration and development activities, such as those associated with continuity of mineralization or determining whether mineral resources or reserves exist on a property;
•uncertainties related to the accuracy of our estimates of mineral reserves, mineral resources, production rates and timing of production, future production and future cash and total costs of production and milling;
•uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project;
•uncertainties related to our ability to complete the mill upgrade on time estimated and at the scheduled cost;
•uncertainties related to the ability to obtain necessary licenses permits for development projects and project delays due to third party opposition; 
•uncertainties related to unexpected judicial or regulatory proceedings; 
•changes in, and the effects of, the laws, regulations and government policies affecting our exploration and development activities and mining operations, particularly laws, regulations and policies;
•changes in general economic conditions, the financial markets and in the demand and market price for copper, gold and other minerals and commodities, such as diesel fuel, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar and Canadian dollar, and the continued availability of capital and financing;
•the effects of forward selling instruments to protect against fluctuations in copper prices and exchange rate movements and the risks of counterparty defaults, and mark to market risk;
•the risk of inadequate insurance or inability to obtain insurance to cover mining risks;
•the risk of loss of key employees; the risk of changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;
•environmental issues and liabilities associated with mining including processing and stock piling ore; and
•labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

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.com and home jurisdiction filings that are available at www.sedar.com. 

UPDATE 3-Canada blocks development of Taseko mining project...
Tue Nov 2, 2010 7:51pm EDT

* Says proposed mine would have damaged environment

* Taseko shares drop 25 percent in post-market trade (Adds comment from First nations group)

OTTAWA Nov 2 (Reuters) - The government of Canada has decided to block the development of Taseko Mines' (TKO.TO) controversial copper-gold mine in British Columbia, Environment Minister Jim Prentice said on Tuesday.

Ottawa's decision -- based on "concerns about the significant adverse environmental effects" -- overrules British Columbia's provincial government, which had granted permission for the Prosperity project to go ahead.

The news hammered shares of Taseko Mines, which fell 25 percent to $4.89 in after-market trade in the United States.

Steve Parsons, an analyst with Wellington West, said Ottawa's ruling is a major blow to Taseko that potentially diminishes the value of the company.

"I can tell you what's left in the company and the value of that we estimate is C$4.85 a share ... It (Taseko) could trade at a slight discount to that," said Parsons.

The company could submit a revised proposal, said Prentice, adding that he agreed with a federal review panel's report which warned that the proposed project would destroy a nearby lake and the local ecosystem.

"(The report) was scathing in its comments about the impact on the environment. It was, I would say, probably the most condemning report that I've seen," Prentice told a hastily convened news conference in Ottawa.

Taseko said it plans to fully evaluate the federal government's decision on the project.

"We are extremely disappointed by this decision," Chief Executive Russell Hallbauer said in a statement.

"Our next steps will be discussions with both the federal and provincial governments to look at options so that this mining project can move forward and meet the criteria that the federal government deem appropriate."

Local aboriginal groups have opposed the mine, saying it would infringe on their rights.

"We hope today's decision will demonstrate the need to find a way forward for industry and governments to work with First Nations from the outset to identify and develop projects that are environmentally and culturally acceptable," said chief Marilyn Baptiste of the Xeni Gwet'in First Nation, in a statement.

The project, a conventional open-pit mine located about 125 km (80 miles) southwest of Williams Lake, British Columbia, was expected to have a 20-year operational life with a production capacity of 70,000 tonnes of mineral ore per day.

The provincial government gave its approval to the project in January, saying the mine would not have a significant adverse environment impact apart from the loss of a lake, which would be replaced with a newly built lake.

But native opponents said Teztan Biny, or Fish Lake, was critical to their culture, and federal fisheries officials had warned the project's backers years ago to find an alternative way to dispose of the mine's tailings.

Provincial officials had also praised the potential economic impact of opening a new mine in a region hit hard by a severe downturn in the forest industry.

Prentice also said Ottawa had approved Thompson Creek's (TCM.TO) Mt. Milligan copper-gold project in central British Columbia. The molybdenum miner acquired the project when it bought exploration company Terrane Metals earlier this year.

UPDATE 3-Canada blocks development of Taseko mining project...
Taseko's Dead End to Prosperity

and down she goes  ??? :(

Day's Range: 4.31 - 4.90
52wk Range: 2.91 - 7.23
Volume: 29,044,438
Avg Vol (3m): 2,559,340
Market Cap: 896.00M
P/E (ttm): 7.99
EPS (ttm): 0.60
Div & Yield: N/A (N/A)

Technicals
Last Price Quote is:
-26.12%below 13-day MA
-16.96%below 50-day MA
RS Rating: N/A 

Taseko's Dead End to Prosperity.......

The show must go on, right?

Well-wishers may tell you to break a leg, but that doesn't prepare you for having your arms lopped off.

Taseko Mines (AMEX: TGB) stood upon the world's stage while awaiting final regulatory approval for its Prosperity copper and gold mine, but when the curtain closed, the performance was jeered with scathing reviews.

Canada's Environment Minister, Jim Prentice, dealt a crushing blow to Taseko on Tuesday when he announced his government's negative permitting decision for Prosperity. While this may not mark the absolute end of the road for the project, this decision significantly extends a process that has already reached an epic 17-year duration. During after-hours trading, Taseko shares plummeted by nearly 30% to trade for less than $4.60 per share.

Taking his cue from the report of a federal review panel issued back in July -- which Prentice characterized as "scathing" and "probably the most condemning report that I've seen" -- the decision hinged upon the risk that proposed post-project mitigation efforts might fail to adequately restore Fish Lake and the surrounding ecosystem. Taseko's mine plan, which envisioned converting Fish Lake into a tailings pond, had drawn vehement opposition from First Nations and environmentalists alike.

Taseko's best-case scenario
All Taseko can do at this stage is go back to the drawing board, engage in lengthy consultations with groups that opposed the plan, revise the mine plan in a way that addresses the key concerns of regulators and others, and submit that revised plan for another arduous review. The miner has found a key ally in British Columbia Premier Gordon Campbell, and the BC provincial government has already indicated it will work with the company to facilitate another permitting attempt.

The unspeakable scenarios
In the wake of this material setback, investors are forced to concede that a range of undesirable scenarios could now unfold that would block or significantly dilute the prosperity that shareholders have pined for.

The worst-case scenario that I can envision has Taseko spending additional capital for a revised mine plan, failing in that process once more, and then perhaps finding itself unable to monetize the asset at anything other than bargain-basement valuation. As it is, the property's notional value has been severely reduced by this negative decision, and a follow-on failure would tend to further dissuade potential bidders. In that extremely unsettling scenario, a larger, nearby producer like Teck Resources (NYSE: TCK) could find itself in a position to swoop in to acquire the property for a pittance.

Under those (or similar) circumstances, fair value for Taseko's shares would essentially revert back to fair value for the flagship Gibraltar mine. Thankfully, we have a strong reference point for determining approximately where that value may lie. Fools may recall that Taseko sold a 25% stake in Gibraltar for $170 million last December to a subsidiary of Japanese trading house Sojitz.

Taseko's remaining 75% stake, therefore, carried a realized market value of $510 million nearly one year ago. Since that time, the company has continued to invest generously in the Gibraltar operation, placing the finishing touches upon a four-year, $300 million expansion initiative. Most recently, these efforts featured the construction of a new SAG mill direct feed system and the procurement of two new Bucyrus (Nasdaq: BUCY) shovels. These improvements are finally yielding meaningful production growth, with Gibraltar raising copper production by nearly 28% sequentially to 25.7 million tons for the third quarter. Molybdenum production surged 37% to 265,000 pounds.

Copper prices have also shown persistent strength since that time, offering context for the stock performance of miners Southern Copper (NYSE: SCCO) and Freeport-McMoRan Copper & Gold (NYSE: FCX). Bundling all of these considerations together, I find myself honing in upon a fair value for Taseko's 75% stake in Gibraltar in the range of $660 million to $675 million. Adding in Taseko's net cash position, I believe that Taseko's shares could still justify a price near $4.50 in the sorts of worst-case scenarios where Prosperity is essentially removed from the valuation equation.

What brought you here?
How investors grapple with their deliberations over this stock in the near term is likely to correspond to the source of their initial interest. If Gibraltar was your primary focal point, and you share my forecast for strong earnings performance when Taseko reports next Wednesday, then you might be inclined to stick around and enjoy the results of that $300 million mine expansion.

For those who came to Taseko primarily for a chance at Prosperity (seeking meaningful exposure to gold within the play), it pains me to suggest that it may be time to move on to greener pastures. Much shorter paths to prosperity now exist for Fools seeking bi-metallic exposure to gold and copper, including Ivanhoe Mines (NYSE: IVN) with its enormous Oyu Tolgoi project in Mongolia.

After losing its bid to gain regulatory approval for the Prosperity copper and gold project, Taseko is essentially a pure-play on copper at the moment (it could be worse!). I can't shake the feeling, however, that Taseko will be given a second chance at prosperity.

Chart looks ready...the way it should right before leaping higher...

Day's Range: 4.96 - 5.07
52wk Range: 3.31 - 7.23
Volume: 1,371,557
Avg Vol (3m): 4,414,820
Market Cap: 942.69M
P/E (ttm): 8.18
EPS (ttm): 0.62
Div & Yield: N/A (N/A)

Technicals
Last Price Quote is:
2.33%above 13-day EMA
1.35%above 50-day EMA
RS Rating: N/A 

Successful Drill Program at Taseko Mines' Aley Property Indicates a Major Niobium Deposit With Potential to Develop a Significant Operation
http://finance.yahoo.com/news/Successful-Drill-Program-at-prnews-3810560079.html?x=0&.v=19

Day's Range: 5.38 - 5.89
52wk Range: 3.31 - 6.21
Volume: 5,892,125
Avg Vol (3m): 4,389,080
Market Cap: 1.10B
P/E (ttm): 9.18
EPS (ttm): 0.63
Div & Yield: N/A (N/A)


Technicals
Last Price Quote is:
15.45%above 13-day EMA
16.03%above 50-day EMA
RS Rating: N/A