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Taseko Mines Limited - $TGB STOCK NEWS

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Rhea-AI Summary

Taseko Mines reported first quarter 2024 Adjusted EBITDA of $50 million, with revenues of $147 million and net income of $19 million. Gibraltar mine produced 30 million pounds of copper and 247 thousand pounds of molybdenum. The acquisition of the remaining 12.5% interest in Gibraltar provides cashflow and cost savings. Florence Copper construction is progressing well. The Company refinanced its senior secured notes for financial flexibility.

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Taseko Mines (TGB) has completed a $500 million notes offering, issuing 8.250% Senior Secured Notes due 2030, with a portion of the proceeds to redeem existing notes. The remaining funds will support construction at Florence Copper. The offering provides financial flexibility for capital expenditures and general corporate purposes.
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Taseko Mines announced a US$500 million Senior Secured Notes offering due 2030 at an 8.25% annual interest rate to redeem existing notes, fund projects, and for general corporate purposes.
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Taseko Mines (TGB) announces a $500 million offering of Senior Secured Notes due 2030 to redeem existing notes and fund various projects. The Notes are unregistered and targeted towards qualified institutional buyers in the US and non-US persons outside the US.
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Taseko Mines announces the acquisition of the remaining 12.5% interest in the Gibraltar Mine, resulting in 100% ownership. The acquisition price includes a minimum of $117 million with additional contingent payments based on copper prices and cashflow. Stuart McDonald, President & CEO, highlights the positive impact on copper production and cashflow, along with potential cost savings and strategic benefits.
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Taseko Mines Limited (TGB) reports strong financial performance in 2023 with Adjusted EBITDA of $190 million and revenues of $525 million, driven by increased copper production. Net income for the year was $83 million. The company also achieved significant milestones at the Florence Copper project, securing project financings and commencing construction for commercial production. Taseko expects continued growth in North American copper production and anticipates first copper production in the fourth quarter of 2025.
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Taseko Mines Limited (TGB) signed a definitive agreement with Taurus Mining Royalty Fund for the sale of a US$50 million royalty, accelerating construction activities at its Florence Copper project. The company also expects to drawdown the first US$10 million of the US$50 million Mitsui financing later this month. With site preparations and civil work well advanced, wellfield drilling is expected to commence in February, and construction of the SX/EW plant and other infrastructure will begin in the second quarter of this year. Taseko aims for first copper production in the fourth quarter of 2025, with existing operations at the Gibraltar Mine generating good cashflows in a strong copper price environment.
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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) announces strong fourth-quarter production results, with 34 million pounds of copper and 369 thousand pounds of molybdenum. Full-year copper production of 123 million pounds exceeded guidance and was 26% higher than the previous year. Despite downtime for maintenance and monitoring, copper sales volumes in the fourth quarter were 36 million pounds. President and CEO Stuart McDonald expects the strong finish to continue in 2024.
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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) announces executive management appointments of Richard Tremblay as Chief Operating Officer and Terry Morris as Vice President, Operations. Richard has over 30 years of mining industry experience, while Terry brings nearly 20 years of experience in mining operations management. The appointments aim to support the company's growth plan and strategy of becoming a North America focused, multi-asset copper producer, with a focus on the Florence Copper project transitioning into the construction phase.
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Taseko Mines Limited announces two additional financing transactions totaling US$100 million for its Florence Copper Project in Arizona. Taurus Mining Royalty Fund has approved a US$50 million royalty, and Societe Generale has approved a US$50 million senior secured debt facility. These funds will be used for the construction and development of the commercial production facility. The project has received a total of US$175 million in commitments from industry participants.
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Taseko Mines Limited

NYSE:TGB

TGB Rankings

TGB Stock Data

859.78M
280.86M
3.05%
20.25%
1.07%
All Other Metal Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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About TGB

gibraltar, the cornerstone of taseko’s growth strategy taseko’s is the owner (75%) and operator of the gibraltar copper-molybdenum mine, located in south-central british columbia, the second largest open pit copper mine in canada and the largest employer in the cariboo region. by the end of 2012, the company will have invested ~$700 million to expand and modernize the operation, which was scheduled for demolition when the company acquired it in 1999. built in 1972, the mine was originally designed to process 36,000 tons of ore per day, producing approximately 60 million pounds of copper annually. soon after the re-start in 2004, taseko realized the potential of this large resource and embarked on a program to increase the copper reserves and expand the mining and processing capacity. by the end of 2012, gibraltar’s processing capacity will be increased to 85,000 tons per day with annual copper production averaging 180 million pounds for its 27 year mine life. .