|
Taseko Mines Limited (TSX: TKO; NYSE
Amex: TGB) ("Taseko" or the "Company") reports unaudited
fourth quarter sales results for the Gibraltar
Mine.
The Gibraltar
Mine completed all planned shipments in the fourth quarter of 2010 for total
sales volume of 33.6 million pounds of payable copper. Total payable copper
sales for 2010 were 86.3 million pounds. Year end inventory is expected to be
between 4-5 million pounds of copper, a significant reduction from the end of
the third quarter and inline with typical inventory levels.
Note: Gibraltar
is a Joint Venture owned by Taseko Mines Limited (75%) and Cariboo Copper
Corp. (25%). All figures are reported on a 100% basis.
Russell Hallbauer
President and CEO
No regulatory authority has approved or
disapproved of the information contained in this news release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
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 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 our ability to complete the mill upgrade
on time estimated and at the scheduled cost;
- 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 estimates;
- 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.com
and home jurisdiction filings that are available at www.sedar.com.
|
|