Taseko Mines L. Share Price (TKO)

Any opinion on the recent director sales? Company came on my radar from this https://www.youtube.com/watch?v=uGhcduxKKWE

Financials

- Headline revenues of $525 million and adjusted EBITDA of $190 million for 2023.

- That's a 34% increase in annual revenue, thanks to a combination of improved copper production and Taseko's bold move to increase their interest in the Gibraltar Mine during the year from 75% to 87.5%.

- Net income for the year was $83 million ($0.29 per share)

- Operating cashflow was an impressive $63 million in Q4 alone!

Operations

- Copper production (Gibraltar) was 34 million pounds in Q4 and 123 million pounds in the FY 2023.

- Irrespective of company holdings in the project that's an impressive 26% increase on 2022, annual production came in over and above guidance.

- Cash costs were lower at just $1.91 per pound in Q4 and averaging $2.37 per pound for the year.

Florence Copper project

- The EPA's permitting process concluded in Q4 with the final Underground Injection Control permit finanlised.

- Florence project financing already secured (Taurus Mining Royalty Fund, Societe Generale, Mitsui and Bank of America).

- Construction of the commercial production facility underway with first copper production expected Q4 2025.

- Florence Copper Project has a NPV of $930 million (after-tax, 8% DR) with an IRR of 47% (after-tax) and expected payback period of 2.6 years based on annual production of 85 million pounds copper. Current mine life of 22 years.

Outlook 2024

- Gibraltar Mine to continue with Gibraltar pit ore as main source of mill feed for H1 2024, transitioning to the Connector pit later this year.

- Gibraltar guidance of 115 million pounds of copper production.

- SX/EW facility to come back online in 2026.

- Capital costs of only $10 million planned for Gibraltar in 2024.

Taseko Announces a 26% Increase in Annual Copper Production from its Gibraltar Mine

VANCOUVER, BC, Jan. 10, 2024 -- Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that the Gibraltar mine produced 34 million pounds of copper and 369 thousand pounds of molybdenum in the fourth quarter of 2023. For the full year, Gibraltar produced 123 million pounds of copper, well above guidance and 26% higher than the previous year.

Copper production in the fourth quarter was supported by strong copper grades of 0.27% with ore from the lower benches of the Gibraltar pit. Mill throughput in the quarter averaged 83,000 tons per day and was impacted by additional downtime for maintenance and monitoring of the ball mill in concentrator #2.

Copper sales volumes in the fourth quarter were 36 million pounds, and year-end concentrate inventories remained above normal levels.

Stuart McDonald, President and CEO of Taseko, commented, "The strong finish to 2023 is expected to continue in 2024 as the Gibraltar pit will remain the main source of ore for the first half of this year."

Taseko Mines Announces that the UIC Permit for Florence Copper is now Effective

Oct. 31, 2023 - Taseko Mines Limited is pleased to announce that the US Environmental Protection Agency ("EPA") has confirmed that no appeals have been received and Florence Copper's final Underground Injection Control ("UIC") permit is now effective.

Stuart McDonald, President and CEO of Taseko, commented, "Successful completion of the UIC permitting process is a result of Taseko's long-term development approach, and the quality and environmental integrity of the project. Taseko is now in a unique position, with one of the very few fully permitted mining projects in North America. With the final permit in hand, we have a clear line of vision to commercial production and are that much closer to realizing the full value of Florence Copper."

Florence Copper, located in Arizona, USA, is the next copper mine development for Taseko. The Company anticipates that Florence Copper will be one of the greenest sources of copper for U.S. domestic consumption, with carbon emissions, water and energy consumption all dramatically lower than a conventional copper mine. Florence Copper is projected to be a low-cost copper producer, expected to manufacture 85 million pounds per year of LME Grade A copper cathode in the United States.

TASEKO MINES ANNOUNCES THIRD QUARTER COPPER PRODUCTION OF 35 MILLION POUNDS FROM THE GIBRALTAR MINE

Taseko Mines Limited (LSE: TKO) is pleased to announce that the Gibraltar Mine produced 35 million pounds of copper and 369 thousand pounds of molybdenum in the third quarter (100% basis).

Stuart McDonald, President and CEO of Taseko, commented, "The 25% quarter-over-quarter increase in copper production was a result of higher grades, improved recoveries and increased mill throughput. Mining in the Gibraltar pit is progressing on plan and the lower benches are providing the ore quality we expected. Molybdenum grades have also increased as mining has progressed deeper into the Gibraltar pit, resulting in a 60% increase in quarterly molybdenum production."

A port workers strike in early July caused shipping delays and a build-up of Gibraltar copper concentrate inventory. As a result, third quarter sales volumes lagged production by three million pounds, and the excess inventory is expected to be shipped and sold in the fourth quarter.

Taseko is providing this third quarter production update in advance of an analyst and investor tour taking place at the Gibraltar Mine later today. Presentation slides to be used during the tour will be available at https://tasekomines.com/investors/presentations.