Taseko Mines Stock Earnings Reports

Q1 2026 highlights: Gibraltar delivered steady production (30M lbs Cu, ~700k lbs Mo) with mill throughput optimized for recoveries; C1 cash cost rose to $2.63/lb US due to diesel and explosives inflation and some timing-related higher repairs. Florence achieved first copper cathode production in late February, stabilized operations with ~90 wells producing ~55–60k lbs/day, and harvested ~1.5M lbs cathode in Q1. Management expects Florence to produce 30–35M lbs Cu in 2026 (weighted to H2) and to reach steady-state ~80–85M lbs in 2027 as the wellfield expands. Financials: record quarterly revenue of $237M, adjusted EBITDA $94M, earnings from mining operations $115M, net income $17M ($0.05/share) and adjusted net income $28M ($0.08/share). Copper price collars have lowered realized prices this quarter (effective $5.40 US/lb vs. LME ~$5.83), with remaining collars rolling off in June and a plan to move to shorter-dated puts thereafter. Florence incurred capitalized commissioning/start-up ($21M) and wellfield development ($18M) in the quarter; as ramp progresses more operating costs will flow through cost of production. Liquidity was $322M (cash $169M); management intends to maintain liquidity through H2 and look to reduce debt/delever later this year. Yellowhead project: environmental assessment work and stakeholder feedback underway, detailed project description expected this summer; project added to BC’s priority projects list. Operational risks include diesel/inputs inflation and ramp timing variability across well blocks.