Taseko Mines Stock Price, News & Analysis

Taseko Mines Limited (TGB) announced an extension of its copper price protection strategy by purchasing put options for 41 million pounds of copper at a strike price of US$3.75 per pound for the second half of 2021. This strategy aims to secure a minimum operating margin of approximately C$165 million for the year. President Stuart McDonald stated that this move enables the company to focus on advancing growth plans for its Florence Copper Project while managing market volatility due to global uncertainties. The management team emphasizes its commitment to protecting shareholder value throughout copper price cycles.

Taseko Mines Limited (TGB) announced a favorable ruling from the Arizona Court of Appeals, confirming a 2019 decision that upheld Florence Copper's right to mine its property and awarded $1.7 million in legal fees. This decision concludes litigation from the Town of Florence, allowing Taseko to advance its operations. Notable milestones include securing one of two key permits required for production and successful bond offerings to meet capital needs. The company is progressing with design and procurement for its in-situ production facility.

Taseko Mines Limited (TGB) reported full-year 2020 earnings before depletion and amortization of $119 million and an adjusted EBITDA of $108 million. Despite a net loss of $24 million, copper production reached 123 million pounds. The company anticipates 2021 production to rise to 125 million pounds due to a strong copper market, with prices exceeding US$4.20 per pound. Taseko’s Florence Copper project is set to enhance copper production by 85%. The firm has a cash balance of approximately US$200 million to support development activities.

Taseko Mines Limited (TSX: TKO, NYSE American: TGB) will release its year-end 2020 financial and production results on February 24, 2021, after market close. A conference call to discuss these results is scheduled for February 25, 2021, at 11:00 a.m. ET, where management will present the results followed by a Q&A session. Investors can access the call via phone or listen to an archived version until March 11, 2021.

Taseko Mines Limited (NYSE American: TGB) has successfully completed a US$400 million offering of 7.0% Senior Secured Notes maturing in 2026. These funds will help redeem existing US$250 million 8.75% Senior Secured Notes due 2022. Currently, Taseko holds US$200 million cash with no significant debt until 2026. The financing bolsters the capital for the Florence Copper project, estimated at US$230 million, with cash flows from Gibraltar benefiting from copper prices above US$3.70 per pound.

Taseko Mines Limited (TGB) announced an upsized offering of US$400 million in Senior Secured Notes due 2026, an increase of US$75 million from the previous amount. The Notes carry an annual interest rate of 7.0%, payable semi-annually, and will be issued at par. Proceeds will be used to redeem US$250 million of existing notes, fund capital expenditures at the Florence Copper project and Gibraltar mine, and for general corporate purposes. The offering is expected to close on February 10, 2021.

Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) announced the offering of US$325 million in Senior Secured Notes due 2026. The funds will be used to redeem existing 8.75% Senior Secured Notes due 2022, finance capital expenditures for the Florence Copper project and Gibraltar mine, and cover general corporate expenses. The offering is exempt from registration under U.S. securities laws and will be available to qualified institutional buyers. No regulatory authority has approved the information in this release.

Taseko Mines Limited (TGB) provided an update on its 2020 financial and operational performance, highlighting a significant increase in Adjusted EBITDA, estimated between $105 and $110 million, compared to $51 million in 2019. The Gibraltar mine produced 123 million pounds of copper and 2.3 million pounds of molybdenum. With a cash balance of $85 million, Taseko anticipates further production growth and remains optimistic about rising copper prices, currently around US$3.65 per pound.