Taseko Mines Sincere About New Mine Proposal?

It is very interesting that Taseko Mines is pondering a new mining proposal for Fish Lake.

After more than a decade of stating categorically (as recently as a week ago on a CBC phone in show) that the only option for their Fish Lake or Prosperity Mine, Taseko Mines has stated that it will look at other options.

I understand this from one point of view, they (or their investors) have spent about 100 million dollars to get this far. There's a lot of pissed off investors out there, and knowing the mining promotion industry this can't feel good to all the joes who sweat it out broadcasting "buy" alerts to their clients.

Ever do a search for "Taseko Mines"? What you get is a whole lot of investment advice (sales advice). Try it, it's amazing just how extensive the results are. Buried in there are other things like news and information, but the vast majority is about selling shares.

Most Taseko Mines search results are from stock promoters

How Sincere Is Taseko Mines?
So just how sincere is Taseko Mines in re-vamping their mine proposal?

My guess is that they want to a) shore up their stock price, and b)sell more shares so they can make share prices climb again. In my last post about Taseko Mines stock plummeting we saw that their stock price has gone all over the map in the last five years.

After all, Taseko has been completely steadfast in their assertion that there was only one way to develop this mine:

Throughout the more than 15 years that this project has been undergoing an environmental assessment, significant First Nations and public interest in preserving Fish Lake has been expressed. Notwithstanding the inherent difficulties of trying to preserve a lake in the midst/immediately adjacent to a plant site/ concentrator and open pit, Taseko has left no stone unturned in trying to find a way to preserve Fish Lake and develop the Project. …

It is not possible to preserve Fish Lake as a viable and functioning ecosystem while at the same time maximizing the full potential of the defined resource. From a mine planning perspective, in order to meet the objective of maximizing the full potential of the mineral resource at Prosperity, mine planners and decisions makers need to contemplate and prepare for the development of a pit that infringes on Fish Lake. (from West Coast Environmental Law website who got it from the Federal Review Panel report.)

So they have left no stone unturned (that's a geologists joke, by the way) in trying to avoid destroying the lake, but they missed one? Sounds like they are putting on their stock promoter's hat.

Marilyn Baptiste, chief of the Xeni Gwet'in band near the proposed mine, stated on a CBC open line show that they would not just jump on board if the lake were not to be destroyed, which is sensible. Who knows what the ramifications would be of another version of the mine.

Could they go underground? avoid open pit altogether? With gold over C$1300  per ounce you'd think that would be a possibility. A lot less tailings to generate acid mine drainage, too.

Here are the latest gold prices from Goldprice.org: