Significant Increase in Mining Rates at Gibraltar
Mining rates at the Gibraltar site increased dramatically by 31% compared to Q1, achieving the best mining quarter in the last 4 years with a total of 30 million tons mined.
Florence Project Nears Completion
The Florence project construction is over 90% complete, with all planned wellfield drilling finished and critical systems like the electrical substation completed. The first copper cathode production is anticipated before the end of the year.
Copper Market Developments Positive for Florence
U.S. copper tariffs incentivizing U.S.-based manufacturing of copper products is a positive development for the Florence project, positioning it strategically as a U.S.-based refined copper supplier.
New Prosperity Agreement with BC and Tsilhqot'in Nation
The agreement includes a $75 million cash payment for a 22.5% equity interest, potentially unlocking future mine development opportunities with the Tsilhqot'in consent.
Yellowhead Project Advances
The Yellowhead project, with updated technical study results, shows improved economics with an NPV of CAD 2 billion and an IRR of 21%, advancing through the environmental assessment process.
Strong Financial Liquidity
Taseko ended the quarter with $122 million in cash and a total liquidity of just under $200 million.