Monday, October 3, 2011

Grandich likes Taseko Mines

I've been eyeing Taseko Mines and Peter Grandich posted today that he bought a lot of shares on Friday.  What's there to like about TKO-T?
  • forward PE of 5.5
  • low political risk
  • New Prosperity Cu-Au project in BC
  • locked in $3.50/pound Cu price through 2012
I bought at $3.96 in my TFSA and it's been a dog since my purchase in early September.  I wanted to buy Pretium, but it was too high by the time I was ready to buy and I went with TKO, SGC and PPI.  All disasters.  Hopefully, TKO will get back up to $6-7 some day.

Well, TKO-T took another dive to a new 52 week low today.  SGC-X hit a new 52 week low. RG-X also nosedived along with FED-X.  The pain continues.  Only bright spot is I cashed out on GBG-T to make $84 (to switch into TKO-T).

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