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TGB - Sector: Basic Materials---Industry: Copper

Started by Terliso, January 02, 2006, 11:02:59 PM

Previous topic - Next topic

setravis

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
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

updated chart look...
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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


"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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



"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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/.
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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



"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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.
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

Terliso

What a shakeout for TGB last 2 trading days.

setravis

#206
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.



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.






"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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. 




"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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.



"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis

setravis

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 
"Success loves to hide behind challenges.
Embrace the challenge, enjoy the journey."

Do your own DD and invest based on your DD, not mine !

Semper Fi
S.E.Travis