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Taseko Mines Limited reports recurring operating and financial developments from its North America-focused copper mining business. Company news centers on the Gibraltar Mine in British Columbia, including copper and molybdenum production, mill throughput, grades, recoveries, operating costs and sales volumes.
Updates also cover Florence Copper in Arizona, where the company produces copper cathode through in-situ copper recovery and SX/EW processing. Additional recurring themes include quarterly and annual results, copper market commentary, project work at Yellowhead and New Prosperity, environmental assessment activity, mine development milestones and financing-related operating updates.
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Taseko Mines Limited (TGB) announced strong community support for its Florence Copper Project during a recent public hearing held by the Arizona Department of Environmental Quality (ADEQ). Out of 30 speakers, only one opposed the project, indicating extensive backing from local stakeholders. Taseko has emphasized the environmental safeguards and benefits of its copper extraction process, proven effective over 18 months of testing. The ADEQ will accept public comments until October 12 before finalizing the Aquifer Protection Permit.
Taseko Mines Limited (NYSE American: TGB) announced that the draft Aquifer Protection Permit (APP) has been issued by the Arizona Department of Environmental Quality. The public comment period for the permit commenced on August 6, 2020, and will conclude on September 11, 2020. This confirms the expectation set in Taseko's previous release dated August 4, 2020. The CEO, Russell Hallbauer, emphasized the significance of this permit for the company's operations. However, the PR highlights various uncertainties related to market conditions and the mining industry.
Taseko Mines Limited (NYSE American: TGB) reported strong second-quarter 2020 results, featuring earnings from mining operations before depletion and amortization of $50.3 million and net income of $18.7 million ($0.08 per share). Copper production reached 36.8 million pounds, a 14% increase from Q1, benefiting from an improved copper price at US$2.95 per pound. Total revenues surged to $106 million, a 71% increase compared to the first quarter. The company anticipates a successful permitting process for the Florence Copper Project and ongoing discussions for financing and joint ventures.
Taseko Mines Limited (TGB) has announced that the Arizona Department of Environmental Quality will issue the draft Aquifer Protection Permit for the Florence Copper production facility on August 6, 2020. This permit is crucial for advancing the project to commercial production. CEO Russell Hallbauer emphasized the permit's significance, asserting the environment safety of the in-situ mining process demonstrated over 18 months of testing. The company is winding down its test facility while refining its operational plans for the commercial phase using recently collected data.
Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) will announce its second quarter 2020 financial results on August 5, 2020, after market close. A conference call to discuss these results is scheduled for August 6, 2020, at 11:00 a.m. Eastern Time. Investors and analysts can participate by dialing (888) 390-0546 in Canada and the U.S., or (416) 764-8688 internationally. The call will be archived for playback until August 20, 2020, using a passcode. CEO Russell Hallbauer will lead the discussion.
Taseko Mines Limited (TGB) announced the results from its 2020 Annual General Meeting, held on July 8, 2020, in Vancouver. Key changes include the departure of board members Richard Mundie and Alex Morrison, while Peter Mitchell has been appointed to the Board. Mitchell, a Chartered Accountant with over 35 years of financial management experience, previously served as Taseko's CFO from 2008 to 2013. The meeting saw 132,162,210 shares voted, representing 53.7% of outstanding shares, with all director nominees receiving substantial shareholder support, notably Peter Mitchell with 95.9% votes in favor.