7. Taseko Mines (TGB - Get Report) is a Canada-based junior mining company that operates the Gibraltar Copper Mine. The company is engaged in the exploration of its 100%-owned Prosperity Gold-Copper Property, Harmony Gold Property and Aley Niobium Property.
Taseko Mines will soon launch the third phase of modernization at Gibraltar Mine, Canada's second-largest open-pit copper mine. The company plans to increase productivity and reduce costs at Gibraltar, and continue exploration and development at its other projects. Meanwhile, with Gibraltar being the only revenue-generating mining operation, the company plans to increase annual copper production by 60 million pounds.
The following are the three exploration and development stage projects promising future growth. The Prosperity Project has mineral reserves of almost 7.7 million ounces of gold and 3.6 billion pounds of copper. Construction is expected to start in the first quarter of 2013, and production is expected to begin in 2015. Aley Project is in the exploration stage with 23 holes drilled in 2010, indicating potential resources of 230 and 430 million pounds of niobium. In 2011, drilling will continue with the feasibility study commencing at the end of the year. The Harmony Project, which seeks to enter the prefeasibility stage in 2011, has almost three million ounces of gold in resources.Of the 11 analysts covering the stock, 45% rate it a buy while 45% rate it a hold. On average, analysts surveyed by Bloomberg expect the stock to reach $7.57 in the next 12 months, 28% higher than recent levels.
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