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« GOLD: Can you feel the pulse? | Main | Useful websites. »
Saturday
Aug192006

TASEKO MINES LTD (TGB) UP 10% in 1 DAY

Buy this dip we said on 12 August 2006 and TGB is now up 12.7% in 5 days. The chart below shows our Buy and Sell actions.

TGBChart19Aug06

As you well know we are fans and holders of this stock for a long-term gain. However, in this holiday period we spotted a great opportunity for a short-term gain and made a small investment on Monday morning as we said we would in last Fridays article entitled TASEKO MINES LTD (TGB): Buy this Dip.

This move was a bit of a gamble in terms of investment and is not our usual investment style. Anyway we caught the bounce that we had predicted as TGB started to recover from its sell off.

As a bet it has worked out well and we have closed our position and taken a 12.5% win in 5 days. Why? Because that was the plan and we are sticking to it. Our major holding remains in position for the longer term and these “winnings” will remain on hand to be used when the next opportunity presents itself.

For those of you who are still in there, you now have a choice: cash up and go or hold on for a bigger pay day, only you can make that decision based on your particular outlook and circumstances. Good luck if you are intent on letting it run we think that you will do well but as we said our aim was to make a short term gain. Objective achieved.

Returning from our little deviation we will just refresh ourselves regarding Taseko.
This copper miner has a Market Capitalisation of $257 million and a P/E ration of 8.3. There are many miners out there trading at massive P/E ratios so this investment opportunity still looks good to us and we will continue to acquire as and when our cash situation permits.

For progress reporting purposes we will continue to report against our original recommendation, as we believe that this is the correct and fair thing to do.


19 August 2006

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Reader Comments (5)

Thanks for that article. Good to see some more TGB supporters! I have bought this stock at exactly two dollars and have seen the stock rising to well above four. It's taken a bit of a beating since, but I expect a strong recovery any time soon, probably this month.

September 5, 2006 | Unregistered CommenterJoey

Joey, you got in at $2.0, you lucky or should I say clever dog!
We are certainly sticking with it and we are also surprised that it isn't getting more air time. When TGB gets discoverd we expect it to fly. This is a website about gold but we thought that Taseko was too good to ignore. We think that you will get your $4.o and soon, we'll stick our heads on the block and tell you that we are predicting $5.0. When it gets to $4.0 will you sell or hold? As of yesterday it was $2.43 on AMX, good luck.

September 5, 2006 | Unregistered CommenterBob

I am really in it for the long run. Possibly for four or five years, depending on what the world economy does in those years. My expectations are that this is the start of a metals boom that we haven't seen since the late 70s. This is a lifetime opportunity to get rich and you don't need much to invest.
By the way, Eurozinc and Lionore are two of my other favourites.

September 5, 2006 | Unregistered CommenterJoey

TGB has not really benefited of the recent rise in metals prices, as the C$40M takeover bid for bcMetals (11% premium) might have been considered somewhat high by (TGB) investors. bcMetals (CVE:C) works mainly on one project: the Red Chris Project, which is supposed to start producing Copper & Gold in 2008. In other words, no profits expected soon. The earlier bid by Imperial Metals (TSX:III) was rejected as it was found too low by bcMetals shareholders.

November 3, 2006 | Unregistered CommenterJoey

We have experienced some sideways movement which is not the most exciting to watch. We hope that they don't get sucked in to paying too much for bcMetals the market isn't daft and could react with a bit of a sell-off. However, with China and India and indeed the rest of Asia expanding at a furious rate we think that copper will remain in demand and still expect TGB to perform well from here. The whole takeover scenario does tend to cloud the issue though.

We will continue to hold for now and observe developments.

As usual your comments are most welcome as everyone benefits.

November 3, 2006 | Unregistered CommenterBob

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