CUV.TO
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  • Reuters2 years ago

    Canada's Taseko to buy Curis Resources for Arizona copper project

    Taseko Mines Ltd said on Monday it will buy mineral exploration and development company Curis Resources in an all-share deal, giving the Canadian miner access to the advanced-stage Florence copper project in central Arizona. Taseko, whose New Prosperity copper and gold project in British Columbia was turned down earlier this year by the Canadian government, said the Florence project will help "strengthen" its near-term development pipeline. "Florence adds diversity to our pipeline of development projects," said Taseko chief executive Russell Hallbauer in a statement, adding that the Vancouver-based company should be able to manage funding for the $210 million project through to production. Under the deal, Curis shareholders will receive 0.438 of a Taseko common share for each Curis share held, worth $1.055 per share based on Taseko's 20-day volume weighted average price for the period ending Sept 5.

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