- Taseko Talks
July 8, 2015
July 8, 2015, Vancouver, BC - Taseko (TSX: TKO; NYSE MKT: TGB) (the “Company”) announces second quarter 2015 production of 39.8 million pounds of copper and 479 thousand pounds of molybdenum from the Gibraltar Mine, increases of 40% and 18%, respectively, over the first quarter of 2015.
Total sales for the second quarter were 42 million pounds of copper and 400 thousand pounds of molybdenum.
Russell Hallbauer, President and CEO of Taseko, commented, “Gibraltar operated to expectation during the second quarter. Increased production was a result of improved copper grade, better than design mill throughput and higher copper recoveries. Additionally, minesite spending remained at a similar level to the first quarter, which will result in lower site operating costs per pound in the second quarter.”
Mr. Hallbauer continued, “Even with the recent decrease in copper price, we believe Gibraltar can still generate significant operating cash flow due to the mine’s current cost structure and the weakened Canadian dollar. Also, copper put options that are in place in the third quarter will provide a minimum price of US$2.50/lb for 15 million pounds of production.”
Note: Gibraltar is a Joint Venture owned by Taseko Mines Limited (75%) and Cariboo Copper Corp. (25%). All production and sales figures are reported on a 100% basis, unless otherwise noted.
For further information on Taseko, please see the Company’s website www.tasekomines.com or contact:
Brian Bergot, Vice President, Investor Relations - 778-373-4533 or toll free 1-877-441-4533
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.