Taseko Mines Q4 Earnings Call Highlights

Taseko Mines (TSE:TKO) utilized its fourth-quarter 2025 net telephone to item the commencement of copper accumulation astatine its Florence Copper task and a stronger decorativeness to the twelvemonth astatine its Gibraltar mine, portion outlining expectations for higher Gibraltar output successful 2026 and discussing advancement astatine its improvement pipeline.

President and CEO Stuart McDonald said Florence Copper began producing copper “a fewer days ago” aft the institution turned connected the electrowinning circuit, with copper present being plated and archetypal cathodes expected to beryllium harvested wrong days.

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McDonald said wellfield operations commenced successful the 4th quarter, meaning solutions person been flowing done the commercialized wellfield for astir 3 months. He described archetypal results arsenic “very positive,” citing higher injection travel rates than expected, faster-than-planned acidification of the ore body, and a faster ramp successful the copper people recovered successful solution (PLS). He noted the PLS people was precocious capable to statesman copper accumulation respective weeks earlier, but commissioning of the SX/EW works took a fewer weeks longer than planned.

For 2026, absorption said Florence is expected to nutrient astir 30–35 cardinal pounds of copper. McDonald added that by the clip the institution reports first-quarter results, it expects to supply further operating metrics connected travel rates, PLS grade, and accumulation from archetypal wells.

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A cardinal ramp-up origin is expanding the wellfield and bringing connected caller wells. Drilling resumed successful the 4th fourth with 3 drill rigs operating; a 4th rig is expected to beryllium added shortly. Management said it took clip for caller drilling crews to ramp up, but it expects improved productivity going forward. McDonald besides said the excavation program contemplates adding 80–100 caller wells annually for the adjacent decennary oregon longer, describing it arsenic mean people for Florence.

McDonald reiterated that information is simply a halfway worth and said a fatal mishap involving a declaration idiosyncratic occurred astatine Gibraltar successful November. He said the institution is “deeply saddened” and that findings from the incidental are being reviewed with employees connected site.

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Operationally, Gibraltar posted what absorption described arsenic a beardown 4th quarter. Copper caput grades accrued to 0.26% and recoveries were 81%, resulting successful 31 cardinal pounds of copper production. Throughput was astir 8% beneath plan capableness owed to unscheduled mill downtime, which somewhat offset the benefits of higher grades and recoveries.