Share Name Share Symbol Market Type Share ISIN Share Description
Taseko Mines Limited LSE:TKO London Ordinary Share CA8765111064 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.00 3.64% 142.50 135.00 150.00 142.50 142.50 142.50 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 45

Taseko Mines Limited Taseko Mines Sells Harmony Gold Project

12/07/2021 1:30pm

UK Regulatory (RNS & others)

Taseko Mines Sells Harmony Gold Project 
Vancouver, BC, July 12, 2021 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE MKT: 
TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that it has 
entered into an agreement to sell the Harmony Gold Project ("Harmony" or the 
"Project") to JDS Gold Inc. ("JDS"), a newly incorporated company controlled by 
JDS Energy & Mining Inc. and affiliates.  Under the terms of the agreement, JDS 
will become the owner and operator of the Harmony Gold Project, a high-grade 
development-stage gold project located on Graham Island in Haida Gwaii. 
Taseko will retain a 15% carried interest in JDS and a 2% net smelter return 
royalty on the Project.  Taseko also has the right to terminate the agreement 
and revert to 100% ownership of Harmony in the event JDS does not achieve 
certain project development milestones and an IPO or other liquidity event 
within an agreed timeframe. Closing of the transaction remains subject to 
customary terms and conditions. 
Stuart McDonald, President and CEO of Taseko, commented, "We are continually 
looking for ways to create shareholder value from our extensive pipeline of 
high-quality development projects.  With Florence Copper expected to commence 
construction later this year and our large-scale Yellowhead Copper project 
preparing to enter the environmental assessment process, we did not expect to 
be in a position to advance Harmony for a number of years.  JDS Energy & Mining 
Inc. has a proven track record of developing mineral projects, and this 
transaction structure allows Taseko to participate in their success and create 
value from this asset in the near-term." 
Jeff Stibbard, CEO of JDS Energy & Mining Inc., stated, "As a mining 
development company, we are always in search of high-quality projects in safe 
jurisdictions, particularly in Canada. Harmony, which had been in Taseko's 
inventory for two decades, is a mining project which fits very well within the 
JDS group. With our engineering, permitting and mine construction expertise, we 
believe we can advance this project and create significant value for all 
About Harmony Gold Project 
The Harmony Gold Project is located on Graham Island in Haida Gwaii, off the 
west coast of British Columbia, Canada.  The project comprises of 58 mineral 
claims covering 177 square km.  Previous owners of the Project have carried out 
over 80,000 meters of drilling in 543 holes.  Taseko purchased the project in 
late 2001 and advanced engineering work until 2008, when the Company focused 
efforts on its Gibraltar Mine.  The project has a historical resource estimate 
containing over 3 million ounces of gold within 22 million tonnes of measured 
and 42 million tonnes of indicated resources grading 1.77 and 1.41 g/t gold 
respectively at a 0.60 g/t gold cut-off grade. This historical resource was 
estimated by M. Nowak, P.Eng. in 1997 using multiple indicator kriging and 
classified in 2001 as described by Nowak et al. in a February 2001 Misty 
Mountain Gold Ltd. report entitled "Resource Estimate for the Specogna Gold 
Deposit".  A qualified person has not done sufficient work to classify the 
historical estimate as a current mineral resource and the Company is not 
treating the historical estimate as a current mineral resource.  A qualified 
person would be required to review the historical estimate and make 
recommendations in order to upgrade or verify it as a current mineral resource. 
About JDS Energy & Mining 
JDS Energy & Mining Inc. was founded in 2004 by President and CEO, Jeff 
Stibbard. The team is comprised of a diverse set of skilled and highly 
experienced resource sector professionals with a proven track record delivering 
and executing project plans on budget, on time, and most importantly, safely 
with no harm to people, environment, assets, or reputation. JDS is focused on 
maintaining a social license to operate, globally, and prides itself on 
delivering fit-for-purpose project concepts from inception to full operations - 
a process it has executed seamlessly for operations throughout Canada and the 
world, including the Minto Mine in the Yukon, the Gahcho Kue Mine located in 
the Northwest Territories, the Silvertip Mine in northern British Columbia, 
Victoria Gold's Eagle Gold Mine in the Yukon, and most recently, the PureGold 
Mine in Red Lake Ont. 
Stuart McDonald 
President and CEO 
No regulatory authority has approved or disapproved of the information 
contained in this news release. 
This document contains "forward-looking statements" that were based on Taseko's 
expectations, estimates and projections as of the dates as of which those 
statements were made. Generally, these forward-looking statements can be 
identified by the use of forward-looking terminology such as "outlook", 
"anticipate", "project", "target", "believe", "estimate", "expect", "intend", 
"should" and similar expressions. 
Forward-looking statements are subject to known and unknown risks, 
uncertainties and other factors that may cause the Company's actual results, 
level of activity, performance or achievements to be materially different from 
those expressed or implied by such forward-looking statements. These included 
but are not limited to: 
  * uncertainties about the effect of COVID-19 and the response of local, 
    provincial, federal and international governments to the threat of COVID-19 
    on our operations (including our suppliers, customers, supply chain, 
    employees and contractors) and economic conditions generally and in 
    particular with respect to the demand for copper and other metals we 
  * uncertainties and costs related to the Company's exploration and 
    development activities, such as those associated with continuity of 
    mineralization or determining whether mineral resources or reserves exist 
    on a property; 
  * uncertainties related to the accuracy of our estimates of mineral reserves, 
    mineral resources, production rates and timing of production, future 
    production and future cash and total costs of production and milling; 
  * uncertainties related to feasibility studies that provide estimates of 
    expected or anticipated costs, expenditures and economic returns from a 
    mining project; 
  * uncertainties related to the ability to obtain necessary licenses permits 
    for development projects and project delays due to third party opposition; 
  * uncertainties related to unexpected judicial or regulatory proceedings; 
  * changes in, and the effects of, the laws, regulations and government 
    policies affecting our exploration and development activities and mining 
    operations, particularly laws, regulations and policies; 
  * changes in general economic conditions, the financial markets and in the 
    demand and market price for copper, gold and other minerals and 
    commodities, such as diesel fuel, steel, concrete, electricity and other 
    forms of energy, mining equipment, and fluctuations in exchange rates, 
    particularly with respect to the value of the U.S. dollar and Canadian 
    dollar, and the continued availability of capital and financing; 
  * the effects of forward selling instruments to protect against fluctuations 
    in copper prices and exchange rate movements and the risks of counterparty 
    defaults, and mark to market risk; 
  * the risk of inadequate insurance or inability to obtain insurance to cover 
    mining risks; 
  * the risk of loss of key employees; the risk of changes in accounting 
    policies and methods we use to report our financial condition, including 
    uncertainties associated with critical accounting assumptions and 
  * environmental issues and liabilities associated with mining including 
    processing and stock piling ore; and 
  * labour strikes, work stoppages, or other interruptions to, or difficulties 
    in, the employment of labour in markets in which we operate mines, or 
    environmental hazards, industrial accidents or other events or occurrences, 
    including third party interference that interrupt the production of 
    minerals in our mines. 
For further information on Taseko, investors should review the Company's annual 
Form 40-F filing with the United States Securities and Exchange Commission 
www.sec.gov and home jurisdiction filings that are available at www.sedar.com, 
including the "Risk Factors" included in our Annual Information Form. 
For further information on Taseko, please visit the Taseko website at 
www.tasekomines.com or contact: Brian Bergot, Vice President, Investor 
Relations - 778-373-4533 or toll free 1-877-441-4533 

(END) Dow Jones Newswires

July 12, 2021 08:30 ET (12:30 GMT)

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