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Strategies & Market Trends : Ride the Tiger with CD
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From: Veteran984/23/2009 12:14:22 PM
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TKO-Taseko Mines

Post says fund manager favours Taseko Mines

2009-04-09 08:22 ET - In the News

The Financial Post reports in its Thursday edition that Marquest Asset Management partner Gerry Brockelsby says Taseko Mines is a "buy." The Post's Jonathan Ratner writes in the Buy & Sell column that Mr. Brockelsby bought some larger copper stocks recently and added this smaller name to the portfolio as well. He considers Taseko cheap relative to its asset value and notes the company is in the midst of increasing milling capacity at its copper-molybdenum mine in British Columbia. Volumes are going to start to accelerate as a result, which should reduce operating costs as recovery rates improve. The company has some convertible debt on its balance sheet that will likely need to be financed this summer. Mr. Brockelsby thinks this is why some investors have stayed away. In his general outlook, Mr. Brockelsby says it looks like the economy is not decelerating as fast as it was. "In our mind, it looks likes the worst may be behind us in terms of the economy. We think the downside risk for the market is now mitigated." He also thinks Canada is in a good position to benefit from global stimulus packages. However, the rebound generally will be muted because of global debt constraints.
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