From GlobeNewswire: 2025-05-01 17:43:00

Taseko Mines Limited reported first-quarter 2025 Adjusted EBITDA of $34 million and earnings from mining operations of $39 million. Revenues for the quarter were $139 million from the sale of 22 million pounds of copper and 364 thousand pounds of molybdenum. The Company recorded a net loss of $29 million. Gibraltar produced 20 million pounds of copper and 336 thousand pounds of molybdenum in the first quarter. At Florence Copper, construction remains on schedule with project completion at 78%. Taseko is uniquely positioned for significant production and cash flow growth in the coming months.

Gibraltar mine had a challenging first quarter with lower copper production due to lower than expected metallurgical recoveries and challenging ground conditions. Copper grades averaged 0.19% with recoveries at 68%. The company’s cash balance at the end of March was $121 million with available liquidity of $279 million. Florence Copper project construction is advancing on schedule with 78% completion by March 31, 2025. The company plans to submit an Initial Project Description to commence the Environmental Assessment process in Q2 2025.

Taseko’s long-term growth strategy includes the Yellowhead copper project, expected to produce 4.4 billion pounds of copper over 25 years. The New Prosperity copper-gold project is close to a resolution with the Tŝilhqot’in Nation. The Company plans to publish an updated technical report on the Yellowhead project in 2025. Taseko believes in developing a pipeline of copper projects in North America for long-term returns.



Read more at GlobeNewswire: Taseko Reports First Quarter 2025 Earnings