TASEKO MINES (TGB) Company Report

Taseko Mines has completed construction of its Florence Copper project, with operations started and first cathode expected in January. The project is anticipated to produce 30 million lbs-40 million lbs in 2025 and reach 85 million lbs by 2027. Operating profit is expected in Q2 2025.
The company's Gibraltar mine is recovering from a challenging start to the year, with October production at 11 million lbs and November at nearly 10 million lbs. Annual production is expected to return to 120 million lbs-130 million lbs in 2025.
Following a recent equity raise of 42 million shares at $4 U.S. to repay its revolver, Taseko's pro forma liquidity stands at CAD 200 million, with an additional $110 million capacity in its revolving credit facility, totaling north of CAD 300 million.
Taseko aims to deleverage, targeting a gross debt of CAD 400 million or less than one times leverage before developing its Yellowhead project. Yellowhead is projected to cost CAD 2 billion to build, with a potential CAD 500 million covered by Canadian tax credits, and is expected to produce 200 million lbs of copper annually in its first years.

5 days ago

Transcript

Taseko Mines Provides Update on Florence Copper Ramp-up, Gibraltar Production, and Yellowhead Project Financing

TGB

New Projects/Investments

Guidance Update

Debt Issuance

Florence Copper is expected to produce 30-40 million pounds in 2026 and reach its full capacity of 85 million pounds by 2027, with first cathode anticipated in January. The all-in cost is estimated at around $2 per pound at current sulfuric acid prices, with operating profit expected in Q2 2026.
The Gibraltar mine is projected to return to normal run rates of 120-130 million pounds in 2026, following a tough start to the year.
Taseko recently raised equity by selling 42 million shares at $4 U.S. to repay its revolving credit facility, resulting in a pro forma liquidity of over CAD 300 million. The company aims to deleverage, targeting a gross debt level of around CAD 400 million (less than one times leverage) before developing Yellowhead.
The Yellowhead project is estimated to cost CAD 2 billion to build, with a potential CAD 500 million covered by a Canadian tax credit, and is expected to produce 200 million pounds of copper in its first years. The company plans to secure a JV partner and leverage Gibraltar's copper units for funding.

5 days ago

Transcript

Taseko Mines Provides Updates on Florence Copper, Gibraltar, and Future Projects

TGB

New Projects/Investments

Guidance Update

Debt Issuance

Taseko Mines has completed construction and started operations at its new Florence Copper asset, with the first cathode expected in January and a ramp-up to 85 million pounds of annual production by 2027.
The Gibraltar mine experienced a challenging start to the year but is now in a turnaround, with production expected to return to 120-130 million pounds next year.
The company recently raised equity by selling 42 million shares at $4 U.S. to repay its revolver, increasing pro forma liquidity to CAD 200 million plus CAD 110 million in RCF capacity, totaling north of CAD 300 million.
Taseko aims for deleveraging, targeting less than one times leverage with gross debt around $400 million before developing the Yellowhead project.
The Yellowhead project, anticipated to be Canada's next greenfield copper mine, has an estimated CapEx of CAD 2 billion, with potential for CAD 500 million from a new Canadian tax credit, and is expected to produce 200 million pounds of copper in its first years.

5 days ago

Transcript

Taseko Mines Reports Improved Q3 2025 Financial and Operational Results

TGB

Earnings

Guidance Update

New Projects/Investments

Taseko reported Q3 2025 Adjusted EBITDA of $62 million and revenues of $174 million, alongside a net loss of $28 million ($0.09 per share) and Adjusted net income of $6 million ($0.02 earnings per share).
Gibraltar's copper production improved to 27.6 million pounds in Q3 2025, with an average copper grade of 0.22% and recoveries of 77%, while total operating (C1) cost decreased to US$2.87 per pound.
Florence Copper's SX/EW plant achieved substantial completion, with wellfield operations commencing in mid-October, and first copper cathode production expected early next year.
An US$173 million equity financing completed in October allowed Taseko to repay US$75 million of its corporate revolver and restart wellfield drilling at Florence Copper earlier than planned.
The company projects 2025 copper production to be 100 to 105 million pounds, with Q4 expected to show further improvements in copper grades, recoveries, and production.

Nov 13, 2025, 5:14 PM

6-K

Taseko Mines Limited Reports Q3 2025 Financial and Operational Results

TGB

Earnings

New Projects/Investments

Taseko Mines Limited reported revenues of Cdn$173.9 million and a net loss of Cdn$27.8 million (Cdn$0.09 loss per share) for the third quarter ended September 30, 2025. For the nine months ended September 30, 2025, revenues were Cdn$429.1 million and the net loss was Cdn$34.5 million (Cdn$0.11 loss per share).
During Q3 2025, the Gibraltar mine produced 27.6 million pounds of copper at a total operating (C1) cost of US$2.87 per pound. The average realized copper price for the quarter was US$4.49 per pound.
The Florence Copper production facility received final approvals in October 2025 to commence wellfield injection and recovery operations, with first copper cathode production expected in early 2026.
In October 2025, the company closed an equity financing that issued 42.7 million common shares for gross proceeds of US$172.8 million, used to repay outstanding debt and fund Florence Copper and the Yellowhead project.
As of September 30, 2025, total debt was Cdn$871.4 million and net debt was Cdn$780.7 million. The company has copper price protection in place for 81 million pounds of production through the first half of 2026, with a US$4.00 per pound floor and a US$5.40 per pound ceiling.

Nov 13, 2025, 12:30 AM

6-K

Taseko Mines Reports Improved Third Quarter 2025 Results and Project Milestones

TGB

Earnings

New Projects/Investments

Guidance Update

Taseko Mines reported Adjusted EBITDA of $62 million, a net loss of $28 million ($0.09 per share), and revenues of $174 million for the third quarter of 2025.
Gibraltar copper production significantly improved to 27.6 million pounds in Q3 2025, processing an average copper grade of 0.22% with 77% recoveries, and is expected to increase further in the fourth quarter. The total operating (C1) cost was US$2.87 per pound.
The Florence Copper project achieved substantial completion of its SX/EW plant in September, commenced wellfield operations in mid-October, and anticipates first copper cathode production early next year.
In October 2025, the company completed a US$173 million equity financing, which was used to repay US$75 million on its corporate revolver and will support further wellfield development at Florence Copper.
Taseko expects copper production for 2025 to be 100 to 105 million pounds.

Nov 12, 2025, 10:14 PM

Press Release

Taseko Mines Closes US$170 Million Bought Deal Financing

TGB

Taseko Mines Limited has closed its previously announced bought deal offering, selling 42,000,000 common shares at US$4.05 per share.
The offering generated gross proceeds of US$170,100,000.
The company anticipates using the proceeds to repay outstanding indebtedness under its revolving credit facility and for general corporate and working capital purposes.

Oct 22, 2025, 12:44 PM

6-K

Taseko Mines Announces Common Share Offering

TGB

Taseko Mines Limited has entered into an underwriting agreement to offer 37,100,000 common shares at a price of US$4.05 per share, aiming for aggregate gross proceeds of US$150,255,000.
The agreement includes an over-allotment option for the underwriters to purchase up to an additional 5,565,000 common shares at the same offering price.
The underwriting commission per offered security is 4.5%.
The closing of the purchase and sale of the firm shares is scheduled for October 22, 2025.

Oct 20, 2025, 6:55 PM

6-K

Taseko Mines Updates Yellowhead Copper Project Economics

TGB

New Projects/Investments

Guidance Update

Taseko Mines Limited's updated Yellowhead Copper Project economics, effective June 15, 2025, report an After-Tax Net Present Value (NPV) at 8% of $2.0 billion and an After-Tax Internal Rate of Return (IRR) of 21%.
The project holds proven and probable mineral reserves of 817 million tonnes grading 0.28% copper, 0.030 gpt gold, and 1.3 gpt silver at a 0.17% copper cut-off, supporting an open pit mine for at least 25 years.
Long-term metal price forecasts used in the economic analysis are US$4.25/lb for copper, US$2400/oz for gold, and US$28.00/oz for silver, with a foreign exchange rate of US$1.00: C$1.35.
The estimated total capital costs for the project are C$2,948 million, with a projected grand total net cash flow of C$10,125 million.

Oct 16, 2025, 1:47 AM

6-K

Taseko Mines Announces US$150 Million Bought Deal Financing

TGB

New Projects/Investments

Taseko Mines Limited announced a US$150 million bought deal financing on October 15, 2025.
The company will issue 37,100,000 common shares at a price of US$4.05 per common share, generating gross proceeds of US$150,255,000.
The net proceeds from the offering are intended to repay outstanding indebtedness under the company's revolving credit facility and for general corporate and working capital purposes.
The offering is expected to close on or about October 22, 2025.