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Stuart McDonald, CEO of Taseko Mines, explains how they intend to almost double copper production

Stuart McDonald, CEO of Taseko Mines, explains how they intend to almost double copper production

Share Price Information for Taseko Mines L. (TKO)

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Share Price: 235.00
Bid: 230.00
Ask: 240.00
Change: 0.00 (0.00%)
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TRADING UPDATES: Intuitive Plots GBP250,000 Investment In Microsaic

Mon, 25th Jan 2021 19:18

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Intuitive Investments Group PLC - closed-end investment company focused on life sciences sector - Announces investment of GBP250,000 for 250.0 million shares in AIM-listed technology firm Microsaic Systems PLC.

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Home REIT PLC - investor focused on properties across the UK that are dedicated to providing accommodation to the homeless - Has acquired further 11 separate portfolios of properties for a total of GBP69.5 million. "The company has now deployed over GBP184 million of total capital since its IPO, representing 78% of the net proceeds raised at IPO," Home REIT. "The company is in advanced negotiations on a significant pipeline of attractive assets to allow for the efficient deployment of its remaining IPO proceeds." Says new properties add further 798 beds.

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AEW UK REIT PLC - UK commercial property investor - Net asset value per share at December 31 rises 34% to 95.87 pence from 92.73p at the end of September. Declares 2.00p interim payout in line with 8.00p annual aim.

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Arricano Real Estate PLC - shopping centre operator - Says all of shopping centres have reopened. "We are very pleased to be able to re-open. We look forward to getting back to business as normal," Chief Executive Anna Chubotina says.

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Pires Investments PLC - invests in companies that have the potential for major transformation and exponential growth - Says investee Sure Valley Ventures invests in immersive entertainment firm Virtex VR Ltd. "SVV has completed an initial investment in Virtex to accelerate the company's strategy to build a platform for the next-generation of live, immersive entertainment within the virtual reality gaming and e-sports industries," Pires adds.

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RM Secured Direct Lending PLC - closed-ended investment trust - Receives increased allocation from the British Business Bank under the Coronavirus Business Interruption Loan Scheme. "We are delighted to have received an increase to our allocation under the CBILS scheme. Not only does this enable us to support British businesses impacted by Covid-19 but which meet our strict investment criteria, the government guarantee acts as a strong credit enhancement for any eligible new loans which can be facilitated under the scheme," Chief Investment Officer of RM Funds James Robson says.

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Gunsynd PLC - London-based investment company focused on the natural resources sector - Invested extra GBP85,000 in Rincon Resources Ltd, an ASX-listed gold and base metals explorer. Now holds 8.9 million Rincon shares, a 17% stake.

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Nostra Terra Oil & Gas Company PLC - Texas-focused oil and gas explorer - Reports output rates from Cypress farm-out well at Pine Mills oil field, Texas. Currently producing at "steady rate" of 100 barrels of oil per day. "While this rate is above expectations, given the strong performance the operator will review seeking authorisation to increase production further," Nostra says.

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Angus Energy PLC - UK-focused onshore oil and gas development company - Says it, Saltfleetby Energy Ltd and Aleph Energy Ltd have appointed after completing technical due diligence at Salfleetby. "Legal and corporate due diligence is being conducted in parallel with the drafting of the loan facility and security agreements, with the objective of concluding the documentation in the coming two to three weeks, with drawdown shortly thereafter following the satisfaction of the conditions precedent, standard for a facility of this nature," Angus adds.

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Tirupati Graphite PLC - graphite and graphene producer in Madagascar and India - Says loan note holder has converted 40,000 convertible loan notes into 88,889 shares at 2.5 pence each.

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Condor Gold PLC - exploration company - Completes ground investigation programme of 23 geotechnical drill holes and 58 test pits at tailings storage facility located in La India project, Nicaragua.

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Pensana Rare Earths PLC - exploration and development company - Submits planning application for proposed rare earth oxide separation facility at Saltend Chemicals Park, Yorkshire. "The USD125 million facility will generate around 100 direct jobs once constructed and in operation," Pensana says. "The application, which is expected to take up to three months to review, supports Pensana's commitment to establish the world's first fully sustainable mine to magnet metal supply chain in the UK."

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KEFI Gold & Copper PLC - gold explorer in Ethiopia and Saudi Arabia - Says Tulu Kapi gold project, Ethiopia on track for project finance consortium closing in March and first output in final quarter of 2022. While in Saudi Arabia, drilling continues to extend mineralisation of Hawiah copper and gold asset.

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Altus Strategies PLC - mining royalties in Africa - Egyptian Mineral Resource Authority confirms Akh Gold Ltd, an Altus unit, to be awarded a "number of gold exploration licences". "The licences will be awarded as part of Egypt's inaugural competitive international exploration licence bid round, which commenced in 2020. Altus is working with EMRA in respect of entering into the definitive exploration licence agreements and will provide an update on this process and the licences in due course," Altus.

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Shanta Gold Ltd - Tanzania-focused gold miner - Says fourth-quarter gold output up 3.2% to 20,622 ounces from 19,973 ounces in third quarter. Silver output down 6.1% to 26,544 ounces from 25,016 ounces. Says 2020 output of 82,978 ounces meets 80,000 to 85,000 ounces guidance range.

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PetroTal Corp - oil & gas development and production company - Says Gran Tierra Resources Ltd sells 109.0 million PetroTal shares. Adds that multiple entities bought shares sold by Gran Tierra. Gran Tierra holds 137.1 million PetroTal shares, a 17% interest.

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Corcel PLC - natural resources explorer and developer focused on battery metals - Says next key milestone at Mambare nickel-cobalt asset in Papua New Guinea is environmental permit, expected in near term. Corcel notes 37% hike in nickel prices over past six months.

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Asiamet Resources Ltd - Indonesia-focussed copper and gold miner - Says binding sale and purchase agreement entered into with PT WIN to sell subsidiary Indokal has been terminated. The first tranche payment of USD2.5 million was not transacted by PT WIN within the agreed timeframe of 10 business days following the signing of the deal and a subsequent extension period. "The company used best endeavours to ensure this payment was made, however this was not complied with and no reasonable explanation was provided other than a request for further changes to the terms of the binding SPA which were considered to be unacceptable and detrimental to the best interests of the company," says Asiamet.

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Taseko Mines Ltd - Vancouver, Canada-headquartered mid-tier copper producer - Begins offering of USD325 million senior unsecured notes due 2026. Proceeds will go towards redeeming outstanding 8.75% senior secured notes due 2022. Will also go towards work at Florence Copper project and Gibraltar mine.

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Jangada Mines PLC - mineral resource miner focused on Brazil - Says eight holes of nine completed at Pitombeiras vanadium project. "Drill results further extend mineralisation footprint from previously known resource area," Jangada says.

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Xtract Resources PLC - diversified metals and minerals producer - Updates on Bushranger copper and gold project, Australia. Says drill hole BRDD-20-001 completed at 1,145.6 metre depth. "Drilling of the second hole (BRDD-21-002) of the phase one drilling programme has commenced," Xtract adds.

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Minds + Machines Group Ltd - operator of internet top-level domains - Enters into settlement deal with ICM Registry LLC vendors over alleged warranty claims as part of acquisition deal. "Under the terms of the settlement agreement the company has agreed to pay the settlement parties in aggregate USD1.0 million in full and final settlement of all claims brought by the settlement parties relating to the acquisition of ICM by the company under the acquisition agreement," Minds adds.

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Impellam Group PLC - recruitment company - Enters into plan to buyback shares for cancellation. Share purchase plan to begin with immediate effect. Purchases under plan to be limited to GBP500,000.

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Eckoh PLC - Hertfordshire-based payments technology firm - Launches upgraded version of CallGuard PCI DSS compliant payment solution product. "The new, more advanced features will improve functionality and user experience for contact centre agents and managers. The new agent interface will provide greater control, helping agents to complete payment calls faster, with greater accuracy, providing a more efficient customer experience," Eckoh says.

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Synairgen PLC - respiratory drug discovery company based in Southampton - Says inhaled interferon beta treatment included in US NIH ACTIV-2 trial in COVID-19 outpatients. Trial is part of US Operation Warp Speed programme which aims to speed development of "most promising treatments and vaccine candidates for Covid-19," Synairgen adds.

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Nightcap PLC - bar operator in the UK - Notes share price increase, stock rose 31% on Monday. Notes it raised GBP4.0 million through placing.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Taseko Mines COO sells 25,000 shares after options exercise

Taseko Mines Ltd - operates open-pit Gibraltar copper mine in British Columbia, Canada - Chief Operating Officer Richard Tremblay exercises options for 25,000 shares at CAD0.69 each and sells all of them for CAD3.44, worth CAD86,075, about GBP50,168, on Tuesday last week.

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Taseko Mines adjusted first quarter profit up as Florence progresses

(Alliance News) - Taseko Mines Ltd on Thursday said its Florence Copper project in Arizona is progressing smoothly as it reported growth in adjusted profit despite a lower realised copper sales price.

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17 Apr 2024 10:24

IN BRIEF: Taseko Mines director sells 1.1 million shares in total

Taseko Mines Ltd - operates Gibraltar mine in British Columbia; it is the second largest open-pit copper mine in Canada - Director Robert Dickinson sells 640,960 shares at average CAD3.44, worth CAD2.2 million, about GBP1.3 million, on Monday and Tuesday in Toronto. Dickinson had sold 500,000 shares on Thursday last week. Additionally, Chief Executive Officer Stuart McDonald sells 125,000 shares at CAD3.52 on Friday and Monday, and Chief Financial Officer Bryce Hamming sells 25,000 shares at CAD3.39 on Tuesday, both after exercising options for the same number of shares at CAD0.69.

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12 Apr 2024 10:10

IN BRIEF: Taseko Mines director sells GBP1 million in shares

Taseko Mines Ltd - operates Gibraltar mine in British Columbia; it is the second largest open-pit copper mine in Canada - Director Robert Dickinson sells 500,000 shares at CAD3.36, worth CAD1.7 million, about GBP977,592, on Thursday in Toronto. Taseko on Wednesday said it priced its offering of USD500 million in senior secured debt notes due 2030 with an annual coupon of 8.25%. The notes will be issued at par value. The new debt financing will be used to retire existing 2026 notes and to make capital expenditures on the Gibraltar mine and separate Florence copper project.

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25 Mar 2024 11:23

Taseko Mines fully buys Gibraltar mine in Canada for CAD117 million

(Alliance News) - Taseko Mines Ltd on Monday said it entered into a deal to buy remaining stake in the Gibraltar mine in British Columbia, Canada from Dowa Metals & Mining Co Ltd and Furukawa Co Ltd.

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8 Mar 2024 15:50

Taseko Mines optimistic for Arizona copper project as profit rises

(Alliance News) - Taseko Mines Ltd on Friday reported higher revenue, adjusted profit and an increase in sales from Gibraltar.

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17 Jan 2024 08:39

Taseko Mines inks USD50 million sale of 2% royalty to Taurus Mining

(Alliance News) - Taseko Mines Ltd on Tuesday said that its latest royalty agreement will support construction activities at the Florence copper project, which it claims could be a "major" supplier for the US copper cathode market.

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10 Jan 2024 14:13

IN BRIEF: Taseko hikes copper production in "strong finish" to year

Taseko Mines Ltd - North America-focused mining company - Says its Gibraltar mine produced 34 million pounds of copper and 369,000 pounds of molybdenum in the fourth quarter of 2023. Copper sales volumes reached 36 million pounds. Company says production was supported by strong 0.27% copper grades. Mill throughput averaged 83,000 tonnes per day and was affected by extra downtime needed for maintenance and monitoring. Taseko adds that for 2023, the mine produced 123 million pounds of copper, a 26% increase on production for 2022 and "well above previous guidance".

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20 Nov 2023 14:30

IN BRIEF: Taseko Mines promotes Operations vice president to COO

Taseko Mines Ltd - North America-focused mining company - Appoints Richard Tremblay as chief operating officer. Tremblay joined Taseko in 2014 as general manager of its Gibraltar copper-molybdenum mine in British Columbia, Canada. He was later promoted to senior vice president of Operations. Taseko says Tremblay "will continue to have responsibility for all of Taseko's operations and project development activities", and "has been instrumental in the development of the Florence Copper project". Company also hires Terry Morris as vice president of Operations.

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6 Nov 2023 14:31

IN BRIEF: Taseko investors gain approval for extra Florence funding

Taseko Mines Ltd - North America-focused mining company - Says proceeds from project-level financings will in due course be available to its Florence Copper project in Arizona. Taurus Mining Royalty Fund LP has obtained investment committee approval for a USD50 million royalty, for 1.95% of gross revenue from all copper sales. Meanwhile Societe Generale SA has credit approval to provide Taseko with a USD50 million secured debt facility, which also contains a USD25 million uncommitted accordion feature, should Taseko need to increase it. News follows previously announced commitments from Mitsui & Co Ltd and Bank of America Corp.

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2 Nov 2023 14:34

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4 Oct 2023 17:18

IN BRIEF: Taseko Mines sees jump in quarterly production at Gibraltar

Taseko Mines Ltd - North America-focused mining company - Produces 35 million pounds of copper and 369,000 pounds of molybdenum at the Gibraltar mine in the third quarter of 2023. Says the 25% quarter-on-quarter increase in copper production was a result of high grades, improved recoveries and increased mill throughput. Says the 60% quarter-on-quarter increase in molybdenum production was also due to higher grades, as well as mining progressing deeper into the Gibraltar pit. Explains that a port workers strike in July results in shipping delays and a build-up of copper concentrate inventory, resulting in third-quarter sales volumes lagging production by three million pounds. Notes this excess inventory is expected to be shipped and sold in the fourth quarter.

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Taseko Mines increases revolving credit facility to USD80 million

(Alliance News) - Taseko Mines Ltd on Friday said it has increased its revolving credit facility to USD80 million, from USD50 million.

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