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Re: TGB (Inventory)
Looks like much of their profit was locked up in inventory as of year end (Sep 30). Should make for a nice Q1.
- An inventory of 18,258 WMT of copper concentrate, or 10.4 million pounds of copper, remained at year end, of which 14,500 WMT of inventory, or 8.3 million pounds of copper, was in a storage facility at the dock as there were no ships available at that time to transport it to smelters in Asia.
- Molybdenum in concentrate inventory at year end was 9,000 pounds
Copper @ $1.80/lb, Moly @ $34/lb...
Niles re:TMLN
Agreed, boring and dropping for the past year or two.
Reason I am asking, I received a strange call from a company by the name of "Advantage Proxy". They advised me that there was a special shareholders meeting called for Aug 30. In that meeting they will be voting to decrease number of shares required to get anything passed (currently 72%) and (most important) sell their licensing division. Then at some point next spring they intend to a make a distribution to shareholders and go private.
According to the caller, current OS is 4.1 million and they intend to get about $2Mil for the licensing division. Current stock price is $0.40.
Welcome any and all comments.
Should I hold out for the distribution or sell and run now?
TMLN : Anyone else here own any?
Resercher Re:TGB excercise prices.
From Sedar "Management's Discussion & Analysis"
1.15.2 Disclosure of Outstanding Share Data
The following details the share capital structure as at August 12, 2005, the date of this MD&A. These
figures may be subject to minor accounting adjustments prior to presentation in future consolidated
financial statements.
Expiry date
Exercise
price Number Number
Common shares 103,442,316
Share purchase option September 29, 2006 $ 0.55 1,740,000
September 20, 2005 $ 0.81 15,000
September 20, 2005 $ 1.40 100,000
September 20, 2005 $ 1.65 35,000
September 20, 2006 $ 1.40 3,530,500
September 29, 2006 $ 1.36 1,970,000
September 26, 2006 $ 1.50 10,000
September 28, 2007 $ 1.15 1,125,000 8,525,500
Warrants January 8, 2006 $ 0.40 375,000
December 31, 2005 $ 0.75 3,863,332
September 28, 2006 $ 1.40 8,000,000
September 18, 2006 $ 1.66 5,204,361 17,442,693
Convertible Debenture,
Boliden Westmin (Canada) Limited
July 21, 2009 $ 4.64 3,872,437 3,872,437
Preferred shares redeemable into Taseko Mines Limited common shares 12,483,916
Taseko Reports Third Fiscal Quarter Results
August 15, 2005 09:30:05 (ET)
VANCOUVER, British Columbia, Aug 15, 2005 (BUSINESS WIRE) -- Taseko Mines Limited (TGB, Trade) announces financial results for the three months ending June 30, 2005 - the Company's third fiscal quarter of 2005 - and its Gibraltar copper-molybdenum mine in south-central British Columbia. The Gibraltar mine is operated under a joint venture arrangement between Taseko's wholly owned subsidiary, Gibraltar Mines Ltd., and Ledcor CMI Ltd.
THIRD QUARTER 2005 HIGHLIGHTS
- Gibraltar recorded revenues of $32.3 million from sales of copper concentrate, and by-product credits of $7.9 million from sales of molybdenum.
- The average prices for sales realized in the quarter were US$1.51 for copper and US$34 for molybdenum.
- Copper concentrate production during the quarter was 27,500 wet metric tonnes ("WMT"), or 15.5 million pounds of copper.
- During the quarter, 32,100 WMT of copper concentrate was sold totalling 17.25 million pounds of copper.
- Molybdenum in concentrate production during the quarter was 178,000 pounds.
- During the quarter, 223,000 pounds of molybdenum in concentrate was sold.
Results of Operations
The Company's net earnings for the third quarter of fiscal 2005 were $10.1 million, compared to a loss of $1.96 million in the previous quarter and the $6.4 million loss in the third quarter of fiscal 2004. The improvement is related to a restart of active mining operations at the Gibraltar mine during the current fiscal year, and increased sales of both copper and molybdenum concentrate during the quarter.
Gibraltar Mine Performance
Mining operations achieved a daily mining rate of 114,000 tons per day in the quarter. The following table is a summary of the operating statistics for the third quarter compared to forecast.
Here we go, copper @ $1.70/lb
c/001 Re: TGB estimate
I am coming up with the following estimate numbers.
17 Mil Pounds of Copper @ $0.60 Profit = $10.2Mil
($1.55/lb less $0.95/lb production cost = $0.60/lb)
223,000 pounds Moly Concentrate @ $24.75/lb = $5.5Mil
(Moly @ $33/lb x .75 as est. of concentrate)
Total: $15.7Mil / 124Mil-OS = $0.1266/share
Numbers do not account for overhead expenses.
Am I missing anything here? Thanks for any input.
Apr 05, 2005 (BUSINESS WIRE) -- Human BioSystems (HBS), (HBSC, Trade) a biomedical company focused primarily on biological preservation solutions for blood platelets and donor organs, announced today it has made advances in preserving donor organs that show favorable results when compared to current gold standard preservation solutions.
HBS scientists were able to store rat kidneys for 40 hours in a proprietary preservation solution incorporating its patent-pending technology, and then transplant the kidneys back into the test animal for observation. The results were subsequently compared to kidneys stored for the same time period in the commonly known UW and HTK solutions. The UW and HTK solutions are considered to be the gold standards in the U.S. and Europe, respectively.
"Based on the Reperfusion Index, a measure of an organ's viability we developed, the HBS solution exhibited superior results compared to both the UW and HTK solutions, said Dr. Luis Toledo, HBS Chief Medical Officer. "In this particular area, we have found that using higher levels of branched chain amino acids and compounds that can increase the energy substrate of the cell as well as higher concentration of membrane stabilizers, have given us the best results so far."
"The Reperfusion Index has increased considerably to levels of maximal viability in the transplanted rat kidney flushed and stored for 40 hours with the HBS solution. We believe that supplying the Krebs Cycle with enough substrates and increasing the Acetyl Coenzyme A (providing sufficient energy to the cell to sustain life) will be able to maintain the cell viable for prolonged periods of time.
"At this point, we have decided to conduct a complete comparative evaluation with the results obtained with the HTK and UW solutions. As part of evaluation, we plan to define the histological differences among all the various solutions, and to ultimately characterize the survival of the transplanted kidney," Toledo continued.
Preservation researchers at HBS believe that the reperfusion index and histology will give them an excellent parameter to evaluate kidneys after preservation.
"HBS will soon be seeking cooperative efforts with qualified research centers of universities to validate our technology," said Harry Masuda, HBS CEO. "We are at a very exciting time of our company's history," Masuda said.
HBSC +100% EOM
TGB - Article regarding Moly reserves on one of their properties
http://web1.kitco.com/pr/1073/article_03042005093952.DOC
A 1991 Drill Hole On the Taseko Cu-Au-Mo Property Intersected 437 feet of 0.029% Molybdenum
VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSX Venture Exchange: GQ), is pleased to update information on certain aspects of the Taseko copper-gold-molybdenum property in view of the rise in the price of these metals. The property is located 225 km north of Vancouver in British Columbia. The Empress zone has a mineral reserve of 11 million tons of 0.61 % Cu and 0.023 opt gold. This mineral reserve estimate was done in 1991 by James Askew Associates, Inc. out of Denver, Colorado for Asarco Incorporated.
The geology of the Empress zone consists of a package of intensely altered volcanic rock underlain by unaltered quartz diorite at depths ranging from 500 to 700 feet. Due to its intense alteration, the rock of the upper 500+ feet was differentiated by its alteration constituents. Going from the surface down, one encountered a combination quartz-andalusite-pyrophyllite (QAS) and plagioclase-quartz-pyrophyllite-andalusite (PQSA), then quartz (QR) and finally quartz-magnetite (QM). The PQSA was later interpreted to be of intrusive origin. This sequence changed abruptly just to the north of the Empress zone where the dominant unit is QAS, and the mineralization is negligible.
Three holes were drilled 500 to 700 feet north of the Empress to determine if the geology reverted back to Empress-style (there is very little outcrop over the property). The first hole intersected a dyke and was stopped. The second hole, 91-43m, was not completely assayed. It did intersect sections of up to 0.16% Cu and 0.019 Mo. Hole 91-49, 190 feet northwest of 91-43 intersected 437 feet of 0.029% Mo from 174 feet to 612 feet including, from 186 to 437, 251 feet of 0.035 Mo. This was followed by 292 feet of 0.23% Cu and 0.007 opt gold. The molybdenite is in a mixture of QAS and PQSA to 357 then altered quartz diorite to 585 where it changes to a mixture of altered and unaltered quartz diorite. The area to the north remains unexplored.
Because of the low price of molybdenum at the time the Mo-intersection was not mentioned in the 1991 news release. This information was, however, reported in a chapter written by W. Osborne and D. Allen for the Porphyry Deposits of the Northwestern Cordillera of North America, CM Volume 46, edited by T.G. Schroeter, 1995. With the price of Mo currently 8 to 10 times higher, this information becomes increasingly relevant.
ON BEHALF OF THE BOARD OF DIRECTORS
“Willis W. Osborne”
Willis W. Osborne
President
Copper @ 1.52/lb
Numbers going forward appear to be very good.
Anyone have an idea of the current OS after the Private Placements?
Thanks!
Taseko Announces Positive Results of Labour Vote
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22 February 2005, 11:45am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 22, 2005--Taseko Mines Limited (TSX VENTURE:TKO)(AMEX:TGB) announces the results of a labour representation vote mandated by the British Columbia Labour Relations Board ("BCLRB") for the Gibraltar copper-molybdenum mine in south-central British Columbia.
The Gibraltar mine is operated under a joint venture arrangement between Taseko's subsidiary, Gibraltar Mines Ltd., and Ledcor Mining Ltd. The mine restarted operations in October 2004. Of the 250 people employed at the mine, about 79% are unionized workers.
On February 16, 2005, Taseko and Ledcor received a BCLRB ruling that confirmed the joint venture is the valid successor employer for the Gibraltar operation and, accordingly, the BCLRB directed the parties to count the ballots from a representation vote, originally held in November 2004, to determine which union will represent the employees. The ballots were counted February 21, 2005, and 74% of the workers voted for the Christian Labour Association of Canada ("CLAC") union. In September 2004, CLAC ratified a collective agreement with Ledcor, the operator at the Gibraltar Mine site.
President and CEO Ron Thiessen said "This brings to an end a period of any labour uncertainty and assures a stable and efficient operating environment for the mine. We can now focus the investment community on the significant opportunity which the Gibraltar Mine represents for Taseko."
Mentioned Last Change
TGB 1.45 0.11dollars or (8.20%)
Taseko Mines Limited is a copper-molybdenum producer with mining operations as well as exploration properties all located in British Columbia, Canada. The company's principal asset is the Gibraltar mine, a 35,000 tonnes per day open pit operation with a 12-year mine plan and additional estimated mineral resources for further years of production. Taseko is listed on the American Stock Exchange ("TGB") in the U.S.A. and on the TSX Venture Exchange ("TKO") in Canada.
January 10, 2005 10:15:35 (ET)
VIENNA, Va., Jan 10, 2005 /PRNewswire-FirstCall via COMTEX/ -- The following letter is being released by CEL-SCI CORPORATION (CVM, Trade) to its shareholders:
Dear Fellow Shareholders:
Imagine that you come across a company with a unique cancer drug which, following just a few weeks of non-toxic treatment, kills a large number of cancer cells, renders the remaining cancer cells more susceptible to follow-on radiation and chemotherapy, appears to reduce the cancer recurrence and even appears to lower cholesterol levels in the blood. On top of this you learn that the company has just submitted to FDA a Phase III head & neck cancer clinical trial protocol designed to produce the data required for approval to market the drug. If this company were private and ready to go public, its valuation might be a few hundred million dollars. But, since it has been public for years, the initial excitement has worn off and the company's valuation is much lower.
The company I just described is our company, CEL-SCI. I believe that there are times when investors shun biotech stocks or, vice-a-versa, fall in love with them for no apparent reason, and that these emotional investment "waves" represent opportunities for investors willing to take risks. I further believe that the stage of entering Phase III clinical trials is a very important one for CEL-SCI, for the investment community as well as for partnering negotiations. During the many years I have been in this business, I have seen a number of biotech companies, now very successful, in a similar position. Based upon the fact that biotech stocks are currently not "in fashion," but most likely will be at some point in the future, the fact that we are entering such an important stage and my own personal belief in our team and science, I once again have added significantly to my CEL-SCI stock position in the past year.
Robert Collier, the well-known author, said that, "Success is the sum of small efforts, repeated day in and out ... ." I want to tell you how I, as the Chief Executive Officer of the Company, see the rapid accumulation of small efforts at CEL-SCI starting to pay off. It has been a long road. During the past 10+ years we spent close to $40 million on the development of a validated manufacturing process for our immunotherapy drug Multikine(R). Also during the past 10 years we conducted multiple clinical studies with Multikine to determine how to best administer it. The studies were designed to determine the optimal dose to administer, the best route of administration, how frequently to give Multikine and for how long. They took a long time to complete because answers to one question needed to be found before the next question could be addressed. Based on this work we have determined how to best administer Multikine, its effects, its mechanism of action and even that it appears to reduce cholesterol levels in the blood. Our initial findings were published in December 2003 in The Laryngoscope and in June 2004 at the very prestigious American Society of Clinical Society (ASCO) conference. This, along with a lot of other work, culminated in the year-end submission to FDA of our Phase III protocol for advanced primary squamous cell carcinoma of the oral cavity. What may look like an old story to many investors has changed substantially in the past year.
The question naturally arises as to the expected key events with regard to Multikine in 2005. I am hopeful that we will be cleared to enter a pivotal clinical study with Multikine by the second quarter of 2005. This approximately 500 patient study may be conducted in conjunction with our Asian partner Orient EuroPharma in the U.S. and internationally. The final details are all dependent on the regulators' requirements. I am further hopeful that we will receive one or more patents on Multikine. These patents will serve to enhance our most important protection from competitors, namely the unique manufacturing process. I also expect to see one or more important publications on Multikine during the year. My experience in the industry tells me that most data is not considered to be real until published. With regard to the L.E.A.P.S.(TM) technology, our other project that is funded mostly by government grants, I am hopeful that it may hold a few surprises as well.
Our vision for Multikine is that it will some day be used as an addition to many different cancer treatments and for many different types of cancer to increase the survival rate of patients. We believe that Multikine contributes unique attributes to a combined cancer therapy that surgery, radiation or chemotherapy alone or in combination with one another cannot provide. While some patients seem to have no tumor remaining after Multikine treatment (ASCO June 2004), it is unreasonable to presume that any single cancer treatment modality alone will defeat a disease as insidious as cancer.
It is for this reason that the proposed Phase III clinical trial was designed to add Multikine to a regimen of surgery followed by radiation or surgery followed by concurrent radiation and chemotherapy (standard therapy), with the control group receiving the standard therapy. Once this concept of using Multikine to enhance standard therapy has been proven in squamous cell carcinoma of the oral cavity (head & neck cancer), it can be tested in many other types of cancer since Multikine is not tumor specific.
We have shown by pathology that Multikine by itself can reduce the number of, or in some cases, eliminate the cancer cells. This finding alone suggests that the combined treatment should be more successful. However, it has been discovered that in addition Multikine also appears to render remaining cancer cells more susceptible to follow-on radiation and chemotherapy (The Laryngoscope, December 2003). This additional effect should be particularly valuable to patients receiving combined treatment with radiation or concurrent radiation and chemotherapy. Preliminary follow-up data collected by one doctor outside of the Phase II protocol suggests that Multikine reduced the cancer recurrence rate in patients treated at one center. The controlled Phase III clinical trial we plan to initiate is designed to develop the statistically meaningful data to confirm this finding. If our initial findings are confirmed and the addition of Multikine to the existing cancer therapies gives substantial benefit to the patients, we expect Multikine to become a very important drug.
During 2004 we also discovered that Multikine may have important uses beyond cancer. I was not surprised because I believe that the immune system is central to our health and therefore a drug like Multikine may be able to influence diseases in ways we cannot even imagine, yet. Multikine was shown in a meta-analysis to lower total cholesterol in clinical studies involving 120 head & neck cancer patients. This reduction in total cholesterol was considered to be highly statistically significant (p<0.0001). Most of the patients were treated with Multikine for 2 or 3 weeks, but some of them were treated for up to 24 weeks.
A meta-analysis is a statistical procedure to combine a number of existing studies. Through such a procedure, effects which are hard or impossible to discern in the original smaller studies can be made visible as the meta- analysis is, in the ideal case, equivalent to a single study with the combined size of all the original studies.
We are very interested in testing this new application for Multikine further, but we will only do so after we have entered pivotal clinical trials in head & neck cancer.
In closing, I invested more money in CEL-SCI last year because I believe in the need for an immune system component of cancer therapy to enhance the success rate of the current cancer treatments and I believe that we may have the answer. I also believe that the fact that we have been around for a long time works against us because the "story is old". This means that we have a harder time being noticed on Wall Street, but it also creates more opportunity. The world is full of 10 or 20 year "overnight successes" and I can assure you that our great team is working hard to make us one of those. We wish you much health and happiness in 2005.
Sincerely,
Geert Kersten
Chief Executive Officer
U.S. Patent Office Enters Final Judgment in Nuclear Transfer Patent Interference in Favor of Geron
January 06, 2005 07:30:00 (ET)
MENLO PARK, Calif., Jan 6, 2005 (BUSINESS WIRE) -- Geron Corporation (GERN, Trade) announced today that the Board of Patent Appeals and Interferences of the U.S. Patent and Trademark Office has issued a final judgment ending patent interference number 104,746 between Geron and Advanced Cell Technology Corporation ("ACT") of Worcester, Mass. The Board ended the interference by entering judgment against ACT on all counts in the priority phase of the interference, thereby invalidating U.S. Patent No. 5,945,577, which is licensed to ACT from the University of Massachusetts.
Geron obtained rights to the pioneering nuclear transfer technology, originally used to clone Dolly the sheep, when it acquired Roslin Bio-Med (now Geron Bio-Med) in 1999. As part of that acquisition, Geron obtained a worldwide license from the Roslin Institute to the nuclear transfer patent portfolio and assumed management of the patent applications. Under Geron's management, patents covering the technology have been issued in the United States, Europe, Australia and several other jurisdictions. Geron requested that the U.S. Patent Office declare interferences between some of Geron's pending nuclear transfer patent applications and certain ACT patents because, in Geron's view, the technology claimed in those patents was first invented at the Roslin Institute and was covered by the patent portfolio licensed to Geron.
An interference is a proceeding conducted by the Patent Office when two or more parties claim the same invention in patent filings. The Patent Office first determines whether the claims of either party are supported by the specification of its patent filing. In a second stage of the proceeding, the Patent Office may look to determine "priority of inventorship," i.e., which party was the first to invent the subject matter of the claims. Under U.S. law, only the party that is the first to invent a new technology is entitled to claim it in a patent.
The claims in this interference relate to a method of cloning animals by transferring the nucleus of a cell from the animal to be cloned into an enucleated oocyte (egg). In a previous ruling, the Board found all of the claims of ACT's patent to be unpatentable, and upheld all of the Roslin/Geron claims involved in the interference. The Board then moved on to determine priority of inventorship and, in this final judgment, concluded that ACT's arguments that the U. Mass. scientists had invented the subject matter of the claims prior to the Roslin scientists "fail at virtually every level."
"We are pleased with the Board's ruling," said David J. Earp, J.D., Ph.D., Geron's chief patent counsel and senior vice president of business development. "The technology covered by the Roslin/Geron patents and patent applications has been widely adopted and is of increasing commercial importance -- it has been used to clone a broad range of species including cattle, sheep, pigs, goats and cats. With the Board's decision, the ACT patent has been invalidated and Geron's pending claims have been upheld. This brings significant clarity to the patent landscape surrounding animal cloning."
A second interference between ACT and Geron (Interference No. 105,192) is still pending before the Board. In the pending interference, the claims at issue relate to the production of inner cell mass cells from embryos made by the nuclear transfer technique. As in the concluded interference, Geron is the senior party and ACT is the junior party. In January 2004, the Board entered final judgment in Geron's favor in a related nuclear transfer patent interference with Infigen, Inc. of DeForest, Wisconsin, upholding the validity of all of Geron's claims and denying a patent to Infigen.
Geron is a biopharmaceutical company focused on developing and commercializing therapeutic and diagnostic products for cancer based on its telomerase technology, and cell-based therapeutics using its human embryonic stem cell technology.