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TASEKO SIGNS DEFINITIVE AGREEMENT TO ACQUIRE 12.5% INTEREST IN GIBRALTAR COPPER MINE
TASEKO SIGNS DEFINITIVE AGREEMENT TO ACQUIRE 12.5% INTEREST IN GIBRALTAR COPPER MINE Ca...
About this update from Taseko Mines Limited
[{"type":"text","content":"\n \n \n \n TASEKO SIGNS DEFINITIVE AGREEMENT TO ACQUIRE 12.5% INTEREST IN GIBRALTAR COPPER MINE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 22, 2023\n \n \n /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (\"Taseko\" or the \"Company\") is pleased to announce that it has entered into a definitive agreement (\"Agreement\") to acquire an additional 12.5% interest in the Gibraltar Mine from Sojitz Corporation (\"Sojitz\").\n \n Gibraltar\n \n 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 will acquire Sojitz's 50% interest in Cariboo, and will then hold an effective 87.5% interest in the Gibraltar Mine.\n \n \n The acquisition price consists of a minimum amount of\n \n C$60 million\n \n payable over a five-year period and potential contingent payments depending on\n \n Gibraltar\n \n mine revenues and copper prices over the next five years.  An initial\n \n C$10 million\n \n will be paid to Sojitz upon closing and the remaining minimum amount will be paid in\n \n C$10 million\n \n annual instalments over the next five years.\n \n \n \n Stuart McDonald\n \n , President & CEO of Taseko, stated, \"This is a logical and beneficial transaction for Taseko, providing immediate 17% growth in our attributable copper production and earnings from mine operations.\n \n Gibraltar\n \n is a high-quality asset with a long mine life in an excellent jurisdiction.  The transaction is immediately accretive to Taseko and the deferred payment structure allows us to focus our fin...