- Taseko is issuing US$400 million in 7.0% secured notes due 2026.
- It is using the proceeds to repay its US$250 million in 8.75% secured notes due 2022.
- The remaining proceeds plus positive cash flow at US$3.50 copper should give it nearly enough funds to pay for the US$227 million initial Florence Copper capex by mid-2021.
- It is still waiting for an EPA permit, but financing appears to be in good shape now.
- Shares could be worth US$2+ at US$3.00 longer-term copper and a producing Florence Copper.
For further details see:
Taseko Mines: Note Offering Gives It Nearly Enough Funding For Florence Copper