Taseko Mines reports Q3 adjusted EPS C$0.02 vs. C$0.03 last year

Reports Q3 revenue C$174M vs. C$155.62M last year. Produced 27.6 million pounds of copper, which includes 895 thousand pounds of copper cathode, and 558 thousand pounds of molybdenum. CEO Stuart McDonald commented, “Initial flow rates in the commercial wellfield have been in line with expectations at this point of the wellfield ramp up process, and we’re now very close to first cathode production. Drilling activity will also restart on the wellfield in the next few weeks. These additional wells are required to ramp up cathode production in 2026. Gibraltar copper production improved in Q3 as mining advanced through the more complex mineralized zones, and copper grades and recoveries were stronger…The US$173M equity financing that we successfully completed in October has significantly strengthened our balance sheet. A portion of the proceeds have now been used to pay off the US$75M that was drawn on the corporate revolver. The working capital injection also allows us to restart wellfield drilling at Florence Copper, earlier than planned, which will benefit the ramp up in 2026. Despite the recent price volatility, the fundamentals of the copper market remain healthy. Copper prices are expected to remain strong in 2026 as accelerating demand from electrification and constrained mine supply continue to tighten the global market”.