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14:46 TGB Taseko Mines establishes a hedging program for ~50% of targeted copper production to the end of 2009 from its wholly-owned Gibraltar Mine (1.58 -0.03)
Co establishes a hedging program for ~50% of targeted copper production to the end of 2009 from its wholly-owned Gibraltar Mine. Co used a producer put and call option - a zero premium cost strategy. Approximately 30 million pounds of copper has been hedged with a price range of US$1.88 - US$2.36 per pound. Under the hedging program, Taseko will receive the prevailing market copper price while within the price range. Should the market price be outside the price range, Taseko will receive a minimum of US$1.88 and a maximum of US$2.36 for the hedged copper. The remaining estimated 30 million pounds of production is unhedged.