Taseko Acquires 100% Of Gibraltar Mine; Acquisition Consists Of Minimum Ammount Of $117M Payable Over Ten-Year Periord And Contingent Payments Depending On Copper Prices And Gibraltar's Cashflow; Initial $5M Paid To Dowa And Furukawa Following Closing
Portfolio Pulse from Benzinga Newsdesk
Taseko has acquired 100% ownership of the Gibraltar Mine, with the acquisition involving a minimum payment of $117M spread over ten years, plus contingent payments based on copper prices and Gibraltar's cash flow. An initial payment of $5M was made to Dowa and Furukawa upon closing.
March 25, 2024 | 12:08 pm
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POSITIVE IMPACT
Taseko's acquisition of Gibraltar Mine strengthens its asset base, with payments spread over ten years and contingent on copper prices and cash flow.
The acquisition of Gibraltar Mine by Taseko is a significant expansion of its mining assets, indicating a positive outlook on copper and its future cash flows. The structured payment plan suggests confidence in Gibraltar's profitability, potentially leading to positive investor sentiment towards TGB in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100