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VANCOUVER - Taseko Mines Limited (TSX:TKO; NYSE American:TGB; LSE:TKO) reported third quarter 2025 Adjusted EBITDA of $62 million and Adjusted net income of $5.5 million ($0.02 per share), despite posting a net loss of $27.8 million ($0.09 per share).
The company's Gibraltar mine produced 27.6 million pounds of copper in the quarter, including 895,000 pounds of copper cathode, marking a significant improvement over the previous two quarters as mining advanced deeper into higher grade ore in the Connector pit.
Copper head grades averaged 0.22% with recoveries of 77%, both substantially higher than in the first half of 2025. The company sold 26 million pounds of copper and 421,000 pounds of molybdenum during the quarter, generating revenues of $174 million.
"Gibraltar copper production improved in the third quarter as mining advanced through the more complex mineralized zones, and copper grades and recoveries were stronger," said Stuart McDonald, President and CEO of Taseko. "The current benches in the Connector pit are expected to produce higher copper grades again in the fourth quarter."
Total operating costs (C1) were US$2.87 per pound, lower than the previous quarter and expected to decrease further in the fourth quarter.
At the Florence Copper project in Arizona, the company reported substantial completion of the SX/EW plant construction in September, with wellfield operations commencing in mid-October. First copper cathode production is expected in early 2026.
The company also strengthened its financial position with a US$173 million equity financing completed in October, with proceeds partially used to pay off US$75 million drawn on its corporate revolver.
Taseko expects Gibraltar's copper production for 2025 to be between 100 and 105 million pounds, with further improvements in copper grades and recoveries anticipated in the fourth quarter.
The article is based on a press release statement from Taseko Mines Limited.
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