Seeking Alpha: Taseko Mines Far From Knocked Out

Both of the Canadian copper miners I liked in December of 2013, First Quantum (OTCPK:FQVLF)(FM.TO) and Taseko (NYSEMKT:TGB)(TKO.TO) have done all right since my initial recommendations (here and here). First Quantum is up almost 45% despite an August pull-back, while Taseko is up more than 20% even with the February rejection of its New Prosperity permit. Relative to Taseko (and the wider base metal sector), I still see meaningful upside in Taseko shares. New Prosperity is very much a long shot now, but Gibraltar is a worthwhile asset and Aley is looking better and better. Add in the potential of a value-creating acquisition and I still believe there is money to be made from Taseko shares.

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Taseko Mines Far From Knocked Out

Seeking Alpha: Mercator Minerals Gets An Early Christmas

It was looking bleak for Mercator Minerals (OTC:MLKKF). Cash production costs for the company's Mineral Park mine in Arizona had been running at double the former estimates and Mercator was not only struggling to find the funds to develop the El Pilar mine, it was losing the struggle to stay in business. While the shares had been trading at a steep discount to the theoretical net asset value of the mine properties, it looked as though the company was going to end up conducting a fire sale of the El Pilar mine (or the company itself) or see the assets ultimately pass to creditors.

And then a funny thing happened. Intergeo MMC, a mining company owned by ONEXIM, the holding company owned by Russian billionaire Mikhail Prokhorov, stepped up to the plate and offered to acquire the company. While Mercator investors are not getting full value for their shares, they're getting a better deal than almost anybody thought was possible, and investors now have an interesting way to play both the public listing of a well-known billionaire's mining company as well as a company with an existing mine that can be improved, a promising mine that is close to "shovel ready", and a third mine that could be a significant source of value down the line.

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Mercator Minerals Gets An Early Christmas