Economic Growth Concerns in China Sends Copper Prices to 6-Week Low

Five Star Equities Provides Stock Research on Taseko Mines and Thompson Creek Metals

NEW YORK, NY -- (Marketwire) -- 10/23/12 -- After surging on the announcement of Quantitative Easing 3 copper prices have fallen sharply, hitting a 6-week low last Friday, on concerns regarding China's failing economy. The major slowdown in China, who is responsible for roughly 40 percent of the world's copper use, has had a major impact on copper prices in 2012. Five Star Equities examines the outlook on the Copper Industry stocks and provides equity research on Taseko Mines Ltd. (NYSE: TGB) and (TSX: TKO) and Thompson Creek Metals Company Inc. (NYSE: TC) (TSX: TCM).


Access to the full company reports can be found at:

www.FiveStarEquities.com/TGB

www.FiveStarEquities.com/TC


The Wall Street Journal last week reported that an adviser to the People's Bank of China, Song Guoqing, stated that new measures to stimulate the economy are unlikely to come from China's central bank as banks in the nation are showing a willingness to lend.

"We had a big rally in base metal prices going into September on anticipation of QE3, the implementation of QE3 and also the raft of policy initiatives announced in China and measures taken by the ECB," said Nic Brown, head of commodities research at Natixis. "Just don't expect this surge in prices to be sustainable. It was not a real reflection of improved demand in China and it is no surprise to us that base metal prices have come off quite significantly."

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Taseko's 75% owned and operated, Gibraltar copper-molybdenum mine is the second largest open pit copper mine in Canada. The mine has undergone a $300 million multi-phase modernization project increasing daily milling throughput from 36,000 to 55,000 tons per day, with annual copper production capacity of 115 million pounds. Shares of the company have fallen over 15 percent in the last month.

Thompson Creek Metals Company Inc. is a growing, diversified North American mining company. The Company is in the process of constructing the Mt. Milligan copper-gold mine in central British Columbia, which is expected to commence production in 2013. Thompson Creek has recently agreed to sell an additional 12.25 percent of future gold production from Mt. Milligan to Royal Gold.

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