Taseko Mines Limited · TSX:TKO
Taseko Mines — Corporate Update (October 2014)
16 slides from Taseko Mines's corporate update, Oct 9, 2014
Slide 1: Building Value Through Operating and Developing Major Mining Projects
October 9, 2014 – Gibraltar Analyst Tour Building Value Through Operating and Developing Major Mining Projects 1
Slide 2: Forward Looking Statement
Forward Looking Statement Some of the statements contained in the following material are "forward‐ looking statements". All statements in this release, other than statements of historical facts, that address estimated mineral resource and reserve quantities, grades and contained metal, and possible
Slide 3: 2008 Gibraltar Reserves
2008 Gibraltar Reserves ‐ Announced reserve increase on December 11, 2008 ‐ Mine life at the 2008 concentrator throughput level was extended to 2035 ‐ LOM strip ratio was 3.1:1 3
Slide 4: 2008 Gibraltar Reserves
2008 Gibraltar Reserves 6.0 5.0 4.0 Strip Ratio 3.0 2.0 1.0 0.0 2009 2014 2019 2024 2029 2034 2039 December 31, 2008 • 472 million ton Reserve • 0.315% copper • 3.1:1 strip ratio • 23-year mine life @ 55,000 tpd 4
Slide 5: 2008 Gibraltar Reserves (GDP-3)
2008 Gibraltar Reserves (GDP-3) 6.0 5.0 4.0 Strip Ratio 3.0 2.0 1.0 0.0 2009 2014 2019 2024 2029 2034 2039 February 16, 2011 • Announce GDP3 Project • 0.315% copper • 3.1:1 strip ratio • 15-year mine life @ 85,000 tpd 5
Slide 6: 2011 Gibraltar Reserves
2011 Gibraltar Reserves • Announced reserve increase on May 10, 2011 • 27‐year mine life • LOM strip ratio was 4.1:1 6
Slide 7: 2011 Gibraltar Reserves
2011 Gibraltar Reserves 6.0 5.0 4.0 Strip Ratio 3.0 2.0 1.0 0.0 2011 2016 2021 2026 2031 2036 May 10, 2011 • 802 million ton Reserve • 0.301% copper • 4.1:1 strip ratio • 27-year mine life @ 85,000 tpd 7
Slide 8: Gibraltar Reserves vs. GDP-3
Gibraltar Reserves vs. GDP-3 6.0 5.0 4.0 Strip Ratio 3.0 2.0 1.0 0.0 2011 2016 2021 2026 2031 2036 GDP-3 2011 Reserves • 0.315% copper • 0.301% copper • 3.1:1 strip ratio • 4.1:1 strip ratio • 15-year mine life @ 85,000 tpd • 27-year mine life @ 85,000 tpd 8
Slide 9: Mine Plan Options within Reserves
Mine Plan Options within Reserves 6.0 5.0 4.0 Strip Ratio 3.0 2.0 C 1.0 A B 2011 Reserves GDP-3 0.0 2011 2016 2021 2026 2031 2036 9
Slide 10: Mine Plan Options within Reserves
Mine Plan Options within Reserves 6.0 5.0 4.0 Strip Ratio 3.0 2.0 C 1.0 A B 2011 Reserves GDP-3 0.0 2011 2016 2021 2026 2031 2036 100% Production basis Before Tax @ 8% Discount Rate NPV in 2015 NPV in 2021 Ore Tonnes Waste Tonnes Strip Ratio Lbs of Cu. Mine Plan Cu Price (Millions) (Millions) (Thous
Slide 11: Mine Plan Options within Reserves
Mine Plan Options within Reserves 7.0 6.0 5.0 Strip Ratio 4.0 3.0 2.0 C 1.0 A B 2011 Reserves GDP-3 0.0 2011 2016 2021 2026 2031 2036 11
Slide 12: Delayed Ore Release
Delayed Ore Release Last 18 months Shovel Availability (%) Waste Mined (MM tons) Ore Impact Variance @ 3.0:1 SR Budget Actual Budget Actual (MM tons) (MM tons) 2013 89% 76% 83 68 (15) (5) Q1 2014 90% 73% 27 19 (8) (3) Granite Pit Highwall Movement (12) (4) Total: (35) (11) ~4 months of mill feed def
Slide 13: Granite Pit Wall Issue
Granite Pit Wall Issue G4W Instability Area Instability Area which has deferred ~4 million tons of 0.32 % Cu Ore into next pushback. G5W G4W Photo – October 6, 2014 13
Slide 14: 2014 Mine Production & Costs
2014 Mine Production & Costs Production & Costs Impacted by: • Major maintenance on shovel fleet ($11.5 million YTD) ‐ Major shovel overhaul required every 5‐6 years ‐ Three were completed in 2014 • Contract mining to maintain strip • Mine fleet inefficiencies while shovels down 14
Slide 15: Path Forward: 2014 - 2017
Path Forward: 2014 ‐ 2017 H2 2014 / 2015: • Supplement high grade ore from pit with midgrade stockpile feed (~15%) ‐ $0.50/t mining costs vs. $2.00/t • Supplement high grade ore from pit with mid grade pit run (~10%) ‐ reduces effective strip ratio • Move major mining fleet to develop upper benches
Slide 16: Questions
Questions 16