Taseko Buys Yellowhead for C$15 Million
Yellowhead is the owner of the Harper Creek copper project in British Columbia.
Taseko Mines (TSX:TKO;NYSEAmerican:TGB) has announced that it has entered into an agreement whereby Taseko will acquire all of the outstanding common shares of Yellowhead Mining (TSX:YMI) that it does not already own for C$15.1 million, payable in Taseko common shares.
Yellowhead is the owner of the Harper Creek copper project in British Columbia.
President and CEO of Taseko, Russel Hallbauer said:
“Our management and technical teams are pleased with this transaction and both Taseko and Yellowhead shareholders should be as well. Yellowhead’s project now has a path forward and with over C$60 million having been spent on a feasibility study and environment plan to-date, we are excited to continue advancing the project towards production. The project is at a stage where we can advance technical work and reinitiate permitting activities using internal resources, without significant cash expenditures. There is potential for this project to be shovel ready soon after our Florence copper project begins commercial production.”
Click here to read the full Taseko Mines (TSX:TKO,NYSEAmerican:TGB) press release.
