Green light for Taseko’s BC copper project buy
The shareholders of development stage company Yellowhead Mining have approved a takeover by base metals miner Taseko Minerals, giving the larger company full ownership of the Harper Creek copper/gold/silver project, in British Columbia.
The acquisition was approved by 99.98% of Yellohead’s shareholders, who under the terms of the transaction will each receive 1.1484 Taseko common shares for each share held.
Taseko previously said that, with proven and probable reserves of 3.6-billion pounds of recoverable copper, supplemented by 370 000 oz of gold and 15.6-million ounces of silver, Yellowhead was acquired at a cost of “half a penny per pound of copper” in the reserve base.
Harper Creek is a proposed 70 000 t/d openpit copper mine with a 28-year mine life, located in the Thompson-Nicola region of British Columbia near Vavenby. Taseko has indicated it will seek to improve on the current feasibility study.
Comments
The login details you entered is incorrect. Please try and re-enter your username and password. If you continue having problems, please contact us at subscriptions@creamermedia.co.za for assistance.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
