Quick Win by the Algorithm: Approval from EPA Gives TGB Green Light

Quick Win by the Algorithm

On December 4, 2016, the I Know First algorithm had predicted a bullish forecast for Taseko Mines Limited, (TGB). TGB had a signal of 55.58 and a predictability of 0.52. In accordance with the algorithm, the company reported long-position capital gains of 53.03% experiencing a quick win by the algorithm.

Quick Win

Taseko Mines Limited, (TGB), is a Canadian mining company founded in 1966 and headquartered in Vancouver, Canada.  The company acquires, develops, and operates mineral properties in Canada and the United States. The company explores for copper, molybdenum, gold, and niobium deposits. It holds a 75% interest the Gibraltar mine located in south-central British Columbia.

Quick Win

As a micro-cap stock, an increase in volume traded can significantly impact its shares price.  Perhaps more volatile compared to larger listed companies.  Volume activity increased during the one month time period, compared to earlier months.  This is among the reasons why shares increased.  On December 21, 2016, the the United States Environmental Protection Agency (EPA) awarded TGB the final required permit for Phase 1 Test Facility at Taseko’s Florence Copper Project in Florence, Arizona.  Once the facility becomes operational, it will produced an average of 75 million pounds of copper annually.  If copper maintains its commodity price of $2.75 per pound, the company stands to benefit a 36% internal rate of return from the project.  Thus, the project stands to benefit the company in the long run.

This bullish forecast on TGB was sent to current I Know First subscribers on December 4th, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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