Wallace Refiners has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won’t come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.
(Wallace Refiners) – Taseko Mines Limited (TKO:LSE) announce that the Florence Town Council has decided it will not appeal the Aquifer Protection Permit which was recently granted by the Arizona Department of Environmental Quality.
Stuart McDonald, President of Taseko, commented, “We are very pleased by this decision and believe this change in approach by Council signals a new beginning. Our expectation is that open and productive dialogue will result and that our future together is bright.”.
He added “We believe that two years of operating the test facility within the strict environmental guidelines set out in our current permits, combined with the future economic benefits from the commercial production facility, certainly contributed to Council’s decision. Transitioning Florence Copper to commercial production, which includes expanding the current wellfield and SX/EW plant, will mean an average of 85 million pounds of copper per year for 20 years beginning in late 2022,”.
The mine is said to have a 20 year life with average C1 cash costs of US$1.13 per pound. The report states that at US$5,600 per ton of installed capacity, Florence Copper is one of the lowest capital intensity copper projects in the world.
The share price in the Toronto Stock Exchange has been hanging at the top of the resistance level near 1.76. Since breaking out of the descending wedge type pattern there has been a decent 36% move to the upside. Now if the resistance breaks the next major high is at 3.00 which would represent the highest price level since 2018 and a 67% target.
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