PR Newswire
VANCOUVER, BC, March 15, 2023
VANCOUVER, BC, March 15, 2023 /PRNewswire/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce the completion of its acquisition of an additional 12.5% interest in the Gibraltar Mine from Sojitz Corporation ("Sojitz"). Gibraltar is operated through a joint venture which is owned 75% by Taseko and 25% by Cariboo Copper Corporation ("Cariboo"). Under the terms of the Agreement, Taseko has acquired Sojitz's 50% interest in Cariboo, and now holds an effective 87.5% interest in the Gibraltar Mine.
The acquisition price consists of a minimum amount of C$60 million payable over a five-year period and potential contingent payments depending on Gibraltar mine copper revenues and copper prices over the next five years. An initial C$10 million has been paid to Sojitz upon closing and the remaining minimum amount will be paid in C$10 million annual instalments over the next five years.
Stuart McDonald
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:
For further information on Taseko, investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com, including the "Risk Factors" included in our Annual Information Form.
View original content:https://www.prnewswire.com/news-releases/taseko-closes-acquisition-of-12-5-interest-in-gibraltar-copper-mine-301773618.html
SOURCE Taseko Mines Limited
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