This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Taseko Mines' Prosperity at 831 mt of 0.41 g/t Au P+P 2009-11-02 15:11 ET - News Release Mr. Russell Hallbauer reports TASEKO ANNOUNCES A NEW 7.7 MILLION OZ GOLD AND 3.6 BILLION LB COPPER RESERVE AT PROSPERITY Taseko Mines Ltd. has confirmed a 70-per-cent increase in mineral reserves at its 100-per-cent-owned Prosperity Project, from 487 million tonnes to 830 million tonnes.
The reserve increase will add three million ounces of recoverable gold and 1.6 billion pounds of recoverable copper to the Prosperity reserve base, bringing total recoverable metal to 7.7 million ounces of gold and 3.6 billion pounds of copper.
This increase in recoverable metal, under present mine design criteria, extends Prosperity's mine life from 20 years to 33 years.
Reserves were previously based on a $5.25 net smelter return (NSR) cut-off using gold and copper prices of $500 per ounce and $1.50 per pound respectively. Current reserves are based on a $5.50 NSR cut-off using gold and copper prices of $650 per ounce and $1.65 per pound, respectively.
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