Welcome to our dedicated page for TREKOR METALS news (Ticker: TGB), a resource for investors and traders seeking the latest updates and insights on TREKOR METALS stock.
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.
Taseko Mines (NYSE American: TGB) has provided an update on its Florence Copper project in Arizona. As of December 31, 2024, the project is 56% complete, with first copper production targeted before the end of 2025. Construction activities are on schedule with nearly 450,000 project hours worked without injuries or environmental incidents. The site currently has approximately 290 personnel.
Key activities in Q4 include:
- Completion of process ponds and surface water runoff pond construction
- Placement and welding of solvent extraction settler and launder modules
- Construction of 17 production wells, totaling 51 out of 90 planned wells
- Advancement in the main pipe corridor development and high-density polyethylene piping installation
- Commencement of field-erected process and service tank construction
- Mechanical and piping installations in the SX/EW plant
- Near completion of structural steel erection for the solvent extraction pipe rack and ongoing piping installation
- Start of electrical work
- Erection of the water treatment building and preparation for the electrowinning building
Despite the Department of Energy’s denial of a 48C(e) tax credit application, Taseko maintains a strong financial position with C$330 million in liquidity, including an undrawn US$110 million revolving credit facility.
Taseko Mines reports its 2024 production results from the Gibraltar copper mine, achieving 106 million pounds of copper and 1.4 million pounds of molybdenum production. Sales volumes matched production at 108 million pounds of copper and 1.4 million pounds of molybdenum.
The company has amended its Gibraltar silver stream agreement with Osisko Gold Royalties, increasing the attributable silver percentage from 87.5% to 100% in exchange for a US$12.7 million cash payment.
Fourth quarter mill throughput averaged over 89,000 tons per day, exceeding design capacity by 5%, resulting in 29 million pounds of copper production. The company projects 2025 copper production to reach 120-130 million pounds, with production weighted towards the second half of the year.
Taseko Mines reports its 2024 production results from the Gibraltar copper mine, achieving 106 million pounds of copper and 1.4 million pounds of molybdenum production. Sales volumes matched production at 108 million pounds of copper and 1.4 million pounds of molybdenum.
The company completed a transaction with Osisko Gold Royalties to increase its Gibraltar silver stream agreement from 87.5% to 100%, receiving an additional US$12.7 million in cash. Following major maintenance activities in July, mill operations improved significantly, with throughput averaging over 89,000 tons per day in Q4 2024, 5% above design capacity, producing 29 million pounds of copper.
Looking forward to 2025, Taseko projects increased annual copper production of 120-130 million pounds, with production expected to be concentrated in the second half of the year.
Taseko Mines has appointed Crystal Smith to its Board of Directors. Smith, who has served as elected Chief Councillor of the Haisla Nation for seven years, brings significant experience in Indigenous governance and responsible industrial development. She played a key role in developing Cedar LNG, the first Indigenous majority-owned LNG project in Kitimat, BC, and leads Haisla Nation's involvement with LNG Canada. Smith chairs the First Nations LNG Alliance and serves as Director of the First Nations Climate Initiative, focusing on responsible economic development aligned with net-zero targets.
Taseko Mines reports Q3 2024 results with $48 million Adjusted EBITDA and $156 million revenue. Gibraltar mine produced 27 million pounds of copper and 421,000 pounds of molybdenum. Total operating costs were US$2.92 per pound of copper. The company recorded a net loss of $0.2 million and adjusted net income of $8 million ($0.03 per share).
Florence Copper construction progresses on schedule with nearly 300 contractors on site. The company expects copper production to increase to 120-130 million pounds in 2025. Cash balance stood at $209 million as of September 30, 2024.
Taseko Mines (TSX: TKO; NYSE American: TGB; LSE: TKO) has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host a telephone conference call and live webcast on Thursday, November 7, 2024, at 11:00 a.m. Eastern Time to discuss the results. The event will include management remarks followed by a Q&A session for analysts and investors. Participants must pre-register for the conference call, and a webcast will be available with playback access until February 5, 2025.
Taseko Mines (TGB) has provided an update on the construction progress of its Florence Copper project. Key highlights include:
- Project is approaching 40% completion as of September 30, 2024
- First copper production anticipated in Q4 2025
- Approximately 300,000 project hours worked with no reportable injuries or environmental incidents
- 280 construction personnel currently on site
- Earthworks and site preparation ~75% complete
- Concrete foundations ~50% complete
- 34 out of 90 production wells completed
- 75 out of 170 permanent operating staff positions filled
The company expects total costs to be within 10-15% of the original US$232 million estimate. Taseko has also applied for a tax credit of up to US$110 million through the U.S. Department of Energy's 48C Program, with a decision expected in January 2025.
Taseko Mines reported its second quarter 2024 financial and operational performance, noting key developments at its Gibraltar Mine and Florence Copper project. The company achieved Adjusted EBITDA of $71 million and earnings from mining operations of $77 million, assisted by a $26 million insurance recovery. Revenues for the quarter reached $138 million, but the company recorded a net loss of $11 million ($0.04 loss per share).
Production at Gibraltar included 20 million pounds of copper and 185 thousand pounds of molybdenum. Production was impacted by both planned downtime and an 18-day labor strike. Total operating costs were $2.99 per pound of copper produced.
Construction at the Florence Copper project continued to ramp up, with key milestones such as pouring concrete foundations and completing 18 production wells. The project remains on schedule for first copper production in Q4 2025.
Financial highlights include a cash balance of $199 million and available liquidity of approximately $308 million, including an undrawn $80 million revolving credit facility.
Taseko Mines (TSX: TKO) (NYSE American: TGB) (LSE: TKO) has announced the upcoming release of its second quarter 2024 financial results. The results will be disclosed after market close on Wednesday, July 31, 2024. Following the release, the company will host a telephone conference call and live webcast on Thursday, August 1, 2024, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific) to discuss the results.
Investors and analysts can join the conference call through various methods, including pre-registration for an automated callback or by dialing in directly. The call will also be available for playback until August 15, 2024, via phone or online access.
Taseko Mines (TSX: TKO, NYSE MKT: TGB, LSE: TKO) reports second quarter production of 20 million pounds of copper and 185,000 pounds of molybdenum at its Gibraltar Mine. Production was impacted by mill downtime for in-pit crusher relocation, maintenance activities, and an 18-day strike in June. The in-pit crusher move is now complete, and concentrator #1 is ramping up to full capacity. Concentrator #2 has been running consistently with improved throughput since January repairs. An insurance claim of US$22 million related to the previous issue is expected in Q3. Despite challenges, Taseko expects stronger production in H2 2024, with annual copper production estimated at 110-115 million pounds, slightly below the original 115 million pounds guidance.