Why Taseko Mines Stock Is Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Taseko Mines, Ltd. (AMEX:TGB) shares are trading higher after the U.S. Environment Protection Agency issued a final Underground Injection Control Permit for the Florence Copper Project. The project has an after-tax NPV (8%) of $930 million at a copper price of $3.75 per pound. The company can now commence construction of the Florence Copper commercial production facility.
September 14, 2023 | 4:28 pm
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POSITIVE IMPACT
Taseko Mines' stock is trading higher due to the EPA's permit for the Florence Copper Project. This permit allows the company to commence construction of the commercial production facility.
The EPA's permit for the Florence Copper Project is a significant milestone for Taseko Mines. It allows the company to commence construction of the commercial production facility, which is expected to have a positive impact on the company's future revenues and profitability. This news is likely to be viewed positively by investors, leading to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100