MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
TASEKO MINES LIMITED |
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Registered Office : |
800 West Pender Street, Suite 1020, Vancouver, BC V6C 2V6 |
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Country : |
Canada |
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Date of Incorporation : |
15.04.1966 |
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Legal Form : |
Corporation For Profit |
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Line of Business : |
Metal Mine Exploration |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
2,000,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
100 USD = 101.80 CDA Satisfying |
IDENTIFICATION
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Company Name: |
Taseko Mines Limited |
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Address: |
800 West Pender
Street, Suite 1020, Vancouver,
BC V6C 2V6 Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (604) 684-6365 + 1 (604) 684-8092 BC-0000069082 British Columbia Russell, E Halbauer,
President |
Date founded: |
April 15, 1966
Corporation For Profit N.A. N.A. 350 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Metal Mine Exploration |
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BANKS
Canadian Imperial Bank of
Commerce
BUSINESS
Business & Operations:
Taseko Mines owns and operates a copper mine and two properties where
gold has been discovered, all in British Columbia. The company's Gibraltar Mine
produces copper concentrate and molybdenum.
Taseko's also owns the Prosperity copper and gold project and the
Harmony gold property. The Prosperity mine is in development, while the Harmony
project is inactive.
Until late 2006 the company operated the Gibraltar mine through a joint venture
with Ledcor CMI Ltd.
Ledcor had participated in the project through the commissioning stage,
but Taseko has taken over full control of the operations. Taseko is part of the
stable of mining companies managed by Hunter Dickinson.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Russell E.
Hallbauer, President and CEO,
Robert A. Dickinson,
Co-Chairman,
Ronald W. Thiessen,
Co-Chairman.
They are also three
of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Taseko Mines Limited does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
220,200,000 |
LEGALS
1 Suit in 2008 by NVI Mining
Ltd. Reason: Balance of Loan Owing.
Amount: NA
No Judgments
No Liens
0 Liens
0 NSF Cheques Reported
0 PPSA Filings
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a medium company
working
worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
2,000,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)