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Taseko reports Q1 2025 earnings with $34M Adjusted EBITDA and $139M revenue from selling 22M lbs copper and 364k lbs molybdenum. Net loss of $29M due to lower copper production. Gibraltar mine produced 20M lbs copper at cost of US$2.26 per lb. Construction at Florence Copper on track with 78% completion, expecting first copper cathode production in Q4 2025. Cash balance at $121M with available liquidity of $279M. Gibraltar mine faced challenges in production and delayed release of higher-grade ore to Q3; expected 2025 copper production 10M lbs lower than previous guidance. Florence Copper construction progressing with a total of $206.3M incurred as of March 31, 2025. Yellowhead copper project and New Prosperity copper-gold project are part of Taseko's long-term growth strategy. Construction costs at Florence Copper expected to be higher than initial estimate. Taseko is anticipating significant production and cash flow growth in the near future.
Taseko Mines Limited reported Q1 2025 Adjusted EBITDA of $34M and Earnings from mining ops at $39M. Revenues were $139M from selling 22M lbs of copper and 364K lbs of molybdenum. Net loss was $29M. Gibraltar mine produced 20M lbs of copper and 336K lbs of molybdenum. Total operating costs were US$2.26 per lb of copper produced. Florence Copper project was 78% complete with construction on schedule. The company issued 10.6M common shares for $31M in Q1. They have copper collar contracts securing a minimum price of US$4.00 per lb for 81M lbs of copper in 2025. Cash balance was $121M with $279M in available liquidity as of March 31, 2025. Gibraltar mine's Q1 sales were 21.8M lbs of copper at an average price of US$4.24 per lb. Operations in the Connector pit faced challenges impacting copper production; production expected to increase in the second half of 2025 and into 2026. Construction at Florence Copper project remains on track with first copper cathode production expected in Q4 2025. Yellowhead copper project is estimated to produce 4.4B lbs of copper over 25 years. New Prosperity copper-gold project is in dialogue for a long-term resolution. The company's strategy focuses on acquiring and developing projects in North America. More details and financial data are available on Benzinga.com.