COPPER: Taseko, Curis Resources look to merge

VANCOUVER – Taseko Mines and Curis Resources have entered into a definitive agreement whereby Taseko will purchase all the issued and outstanding shares of Curis. The deal suggests that Curis is worth roughly $80 million.

VANCOUVER – Taseko Mines and Curis Resources have entered into a definitive agreement whereby Taseko will purchase all the issued and outstanding shares of Curis. The deal suggests that Curis is worth roughly $80 million.

Taseko is offering 0.438 of a Taseko common share for each Curis share, implying a price of $1.055 per Curis share. This is a 21% premium to Curis' 20-day volume weighted average price and a 31% premium to the 60-day price. At the completion of the transaction, Taseko will hold an approximately 88% interest in Curis.

The prize in this deal is the Florence in situ copper project in Arizona. Curis is in the final stages of permitting for the first phase of a production test facility that includes 24 wells and an solvent extraction-electrowinning plant. The deposit has probable reserves of 340 million tonnes grading 0.36% Cu and contains an estimated 2.44 billion lb of copper. The measured and indicated resources total 429 million lb at 0.33% Cu, and the inferred portion is 64 million tonnes at 0.24% Cu.

Please see CurisResources.com for the presentation about in situ copper recovery.

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