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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.
Taseko Mines Limited (TGB) will announce its third quarter 2022 financial results after the market closes on November 3, 2022. A conference call and live webcast is scheduled for November 4, 2022, at 11:00 a.m. ET, where management will discuss the results followed by a Q&A session for analysts and investors. The call can be accessed via dialing specific numbers based on the region or through their website. The recording will be available until November 18, 2022.
Taseko Mines Limited (TGB) has provided an update on its Florence Copper project, announcing strong public support as the U.S. EPA concludes the comment period for the draft UIC permit. Over 98% of comments were favorable, indicating community backing. Taseko asserts that Florence Copper will have one of the industry's lowest carbon footprints and will address U.S. copper demand. CEO Stuart McDonald emphasized the project’s environmental and societal benefits while cautioning about potential risks related to market fluctuations and regulatory approvals.
Taseko Mines Limited (TGB) has provided an update on the federal permitting process for its Florence Copper Project. A public hearing conducted by the EPA on September 15, 2022, saw support from 27 participants for the draft Underground Injection Control (UIC) permit, crucial for advancing the project to commercial production. The public comment period concludes on September 29, 2022. Taseko emphasizes potential risks, including market uncertainties and operational challenges, but remains optimistic about securing the final permit to move forward.
Taseko Mines Limited (TGB) announced that the U.S. Environmental Protection Agency has issued a draft Underground Injection Control permit for its Florence Copper Project. The public comment period will last 45 days, ending on September 29. This permit is crucial for the project's commercial operations. Stuart McDonald, President and CEO, expressed confidence in receiving final approvals after eight years of scrutiny. The project aims to reduce U.S. reliance on foreign copper and is projected to be a low-impact facility.
Taseko Mines Limited (TGB) reported a net loss of $5.3 million for Q2 2022, lower than the $13.4 million profit in Q2 2021. Adjusted EBITDA was $1.7 million, down from $47.7 million the previous year. Cash flow from operations was $18.3 million, a significant drop from $72.5 million. Copper production reached 20.7 million pounds, down from 26.8 million pounds. The average copper price was US$4.08 per pound but fell in the quarter, leading to negative price adjustments totaling $7 million. Management anticipates improved production in H2 2022.
Taseko Mines Limited (TGB) is set to release its second quarter 2022 financial results after market close on August 8, 2022. Investors and analysts are invited to participate in a conference call on August 9 at 11:00 a.m. ET to discuss these results. The call will include an opening statement from management followed by a Q&A session. Access to the call can be made via phone or online at tasekomines.com/investors/events. The call will be archived until August 23, 2022.
Taseko Mines Limited (TGB) has acquired copper collars ensuring a minimum price of US$3.75 per pound for 30 million pounds of copper in H1 2023, with a ceiling price of US$4.72. This follows a strategy to protect against price volatility. The company also has a minimum price of US$4.00 for 42 million pounds in H2 2022, potentially generating an additional C$45 million in cash flow. CEO Stuart McDonald highlighted the significance of this protection in maintaining a strong balance sheet, especially as production is expected to improve at the Gibraltar mine.
Taseko Mines Limited (TGB) held its 2022 Annual General Meeting in Vancouver on June 9, 2022, where 149,948,862 common shares were voted, representing 52.4% of all outstanding shares. Shareholders approved all agenda items, including the election of Rita Maguire to the Board of Directors, with 98% of votes in her favor. Maguire brings extensive legal expertise in water and environmental law, crucial for the company’s Florence Copper Project. CEO Stuart McDonald emphasized her strong qualifications as they progress toward commercial production.
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