Confidence in Taseko Mines Ltd., specifically its Gibraltar Mine, is sky high judging by the company’s bond offer that was snapped up by investors recently.
A national newspaper reported that the offer was completed early due to significant interest; the paper further reported there were orders worldwide for $2 billion worth of bonds. The company was selling only $200 million worth of bonds to finance the work at Gibraltar. Bonds, said Brian Battison, vice-president for corporate affairs for Taseko, are a common way that companies raise capital for the expansion and development of their projects. Taseko will use the revenue generated by the bond sale to finance its recently announced $325 million investment in machinery and equipment at Gibraltar that is aimed at increasing mine capacity.
“It really is a strong vote of confidence in Taseko and in our Gibraltar operation that this money is readily available to us,” Battison says.
