Taseko Mines Ltd (AMEX: TGB)
It’s no secret that many mining companies are thriving at the moment, as a weak dollar and the prospect of inflation attract investors to precious metals.
Prices for commodities typically rise when the dollar falls and fall when the dollar rises. So metals make a steady investment during the recession.
In light of this, the share price of Canadian-based Taseko Mines Ltd (AMEX: TGB) has risen steadily this year. From a price of $1.50 per share in June, it hit a 52-week high of $3.59 this week. And buying intensity has grown with the company’s recent sale of mining assets.
Taseko’s mining and exploration projects include copper, molybdenum, gold and niobium. And interest in these metals is strong as the economy slowly improves.
Earlier this week, Taseko announced sale of 25% its stake in its wholly owned copper-molybdenum mine in Gibraltar. Japanese trading house Sojitz Corp paid $170.5 million for its part in the project, with the deal set to take effect early 2010.
Source: INVESTMENTU
