Base Metals
TGB Stock: Riding the Copper Wave with Taseko Mines
From Depths to Heights: TGB Stock Shines with Taseko Mines July 28, 2023 Before examining the stock and where it’s heading, let’s examine TGB’s business…
From Depths to Heights: TGB Stock Shines with Taseko Mines
July 28, 2023
Before examining the stock and where it’s heading, let’s examine TGB’s business mode.
Taseko Mines Limited (TGB) is a Canadian mining company primarily engaged in the exploration, development, and production of copper and other mineral resources. With a focus on responsible mining practices, Taseko operates in British Columbia, Canada, and has a diverse portfolio of mining projects.
Taseko Mines generates revenue by selling copper and other minerals extracted from its mining operations. Copper, in particular, is a valuable commodity used in various industries, including construction, electronics, and transportation. As global demand for copper rises, Taseko Mines capitalizes on this market opportunity by extracting and selling copper to customers worldwide.
One of Taseko Mines’ notable projects is the Gibraltar Mine in central British Columbia. Gibraltar is one of the largest copper mines in Canada and has been in operation for over 40 years. The mine has a significant resource base and utilizes modern mining techniques to efficiently extract copper and other minerals.
In addition to the Gibraltar Mine, Taseko Mines is actively developing the Florence Copper Project in Arizona, USA. This project aims to utilize an innovative in-situ copper recovery process to extract copper from the ground, minimizing environmental impact and maximizing resource efficiency.
These projects and Taseko Mines’ ongoing exploration efforts contribute to the company’s bottom line by expanding its resource base, increasing production capacity, and meeting the growing demand for copper and other minerals.
TGB Stock Outlook
Among the myriad of copper plays, TGB stands out as a resilient contender akin to a tenacious mule. Even as CPPMF soared before its merger with HBM and the colossal player FCX experienced a remarkable breakout, TGB has held its ground. We can only hope that the adage “every dog will have its day in the sun” holds true for TGB.
From a technical perspective, the stock has ample potential to continue its upward trajectory. The weekly chart indicates that TGB is currently trading in the oversold range, suggesting room for further growth. Similarly, the monthly chart echoes this sentiment. However, it is worth noting that TGB is encountering resistance within the 1.50 to 1.55 range. A significant breakthrough would occur with a weekly close at or above 1.50, preferably surpassing 1.55. Such a development would signal a new breakout and potentially propel TGB to even greater heights.
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