Taseko Extends Copper Hedging Program; Fell 10%, Hit Fresh Yr Lows Monday
Taseko (TKO.TO, TGB), which fell 10% and hit fresh year lows Monday, announced that it has recently added to its copper put option position at its 75% owned Gibraltar Mine. Put options were purchased for approximately 40% of Taseko's share of production for the first quarter 2014 with a strike price of US$3.00 per pound, at a cost of less than US$0.14 per pound. Additionally, Taseko has put options in place for approximate 50% of its 2013 production at a strike price of US$3.00 per pound in the first half of the year and US$2.75 per pound in the second half.
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