Taseko Mines Limited Share Price (TKO)

Price action yesterday was bizarre and I still have no clue as to why...

Excellent update, today ... Onwards and upwards.

A strong update to start the new year and building on the achievements made in 2025! Best performing primary copper major in my portfolio over 12 months over 200% up and expecting further value unlocked as they upgrade production with the inclusion of Florence Copper to around 140-150 million pounds copper production this year, achieving steady nameplate annual production in 2027.

https://www.tasekomines.com/_resources/presentations/November-2025-Corporate-Presentation.pdf

Https://www.tasekomines.com/investors/news/taseko-provides-update-on-florence-copper-ramp-up-and-gibraltar-2025-production-results/

Construction activity at Florence Copper is now complete and the focus has shifted to wellfield operations and commissioning of the SX/EW plant. Wellfield acidification commenced in early November, and in early December mining solutions were circulating in all the new production wells within the commercial wellfield. Injection flowrates in the wellfield have met or exceeded expectations to-date, resulting in faster initial acidification of the wellfield. The grade of copper recovered in solution from the recovery wells has continued to increase, and the average solution grade has now reached the level required for SX/EW plant operations. Commissioning of the SX/EW plant area has been advancing without any significant issues, and plant operations are expected to commence shortly.

Wellfield drilling has also re-commenced with three drill rigs currently operating on site. Continued expansion of the commercial wellfield will support higher solution flows and increased copper production for the ramp-up this year.

Stuart McDonald, President and CEO of Taseko, commented, “The transition from construction to early-stage operations at Florence has gone smoothly, and we are very pleased with the initial copper recoveries and performance of the commercial wellfield. Our project team is focused on the successful start-up of the SX/EW plant in the coming days, followed by first copper cathode production within a few weeks.”

At Gibraltar, copper and molybdenum production for the 2025 year was 98 million pounds and 1.9 million pounds, respectively. Sales for the year were 99 million pounds of copper and 1.9 million pounds of molybdenum. Fourth quarter copper production was 31 million pounds of copper, a significant increase over the previous quarters of 2025. Copper head grade for the quarter increased to 0.26%, in line with management expectations, and recoveries were 81%. Production in the fourth quarter was impacted by unanticipated mill downtime, due to unscheduled maintenance activities and a serious accident which resulted in a temporary site wide shut down in November. Molybdenum production in the quarter was 0.8 million pounds, approximately 50% higher than the third quarter, and the best quarterly production in eight years. Gibraltar’s SX/EW plant produced 0.9 million pounds of copper cathode in the fourth quarter, and continues to operate.

“Gibraltar production in the second half of the year was a notable improvement over the first half of the year with higher grades and better quality ore. Looking ahead to 2026, we expect more consistent quarterly production, now that we are better situated in the Connector pit, and higher overall copper production,” added Mr. McDonald.

If key metal prices hold around where they are, this has the potential to re-rate to 2 - 3X the current price on copper alone. Needs more visibility in Europe but it has a unique value prop and vast potential for the future. 13 million ounces of gold at New Prosperity, 85 mill/t Niobium reserves at Aley, 4.4 BILLION pounds of Cu / 19 mill ozs silver at Yellowhead, copper life of mine(s) 20+ years and Florence producing cathode any day now. TKO will be throwing off cash and has a solid runway to far greater things in the near future. With 20 years record of successfully producing copper and a highly professional team, its the most exciting and low risk opportunity.