Taseko Mines Limited announced a new 706 million ton proven and probable sulphide reserve for the Gibraltar Mine, a 40% increase as of December 31, 2021. The new reserve estimate allows for a significant extension of the mine life to 23 years with total recoverable metal of 3.0 billion pounds of copper and 53 million pounds of molybdenum. Highlights from the new reserve: 706 million tons grading 0.25% copper; Recoverable copper of 3.0 billion pounds and 53 million pounds of molybdenum; 23 year mine life with average annual production of approximately 129 million pounds of copper and 2.3 million pounds of molybdenum; Life-of-mine average strip ratio of 2.4:1; After-tax NPV8 of $1.1 billion (75% basis) and free cash flow of $2.3 billion (75% basis) at a long-term copper price of USD 3.50 per pound.
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