Taseko Mines ( (TGB) ) has released its Q3 earnings. Here is a breakdown of the information Taseko Mines presented to its investors.
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Taseko Mines Limited is a mining company primarily engaged in the extraction and production of copper and molybdenum, with operations centered in North America. The company is noted for its Gibraltar and Florence Copper projects, which are key contributors to its copper production capabilities.
In its latest earnings report, Taseko Mines announced a third-quarter adjusted EBITDA of $62 million, despite a net loss of $28 million. The company reported revenues of $174 million, generated from the sale of 26 million pounds of copper and 421 thousand pounds of molybdenum. Notably, copper production at the Gibraltar mine improved significantly, with expectations for further increases in the coming quarter.
Key highlights from the report include the completion of significant milestones at the Florence Copper project, where the SX/EW plant is nearing completion and is expected to produce its first copper cathode early next year. The company also strengthened its financial position through a $173 million equity financing, which was used to repay debt and support ongoing projects. Additionally, Taseko’s Gibraltar mine saw improved copper grades and recoveries, contributing to a reduction in operating costs.
Looking ahead, Taseko Mines remains optimistic about its growth prospects, with plans to increase copper production and further develop its projects, including the Yellowhead copper project. The company anticipates strong copper prices in 2026, driven by increasing demand and limited supply, which could positively impact its financial performance.