Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was CAD 244 million, the highest ever recorded by the company, driven by copper and molybdenum sales [15][16] - Net income for Q4 was CAD 4.5 million, or CAD 0.01 per share, with adjusted earnings of CAD 42 million, or CAD 0.11 per share [16] - Adjusted EBITDA for Q4 was CAD 116 million, significantly higher than CAD 56 million in Q4 2024 [16] - Cash flow from operations for Q4 was CAD 101 million, with CAD 72 million generated from Gibraltar [16][20] Business Line Data and Key Metrics Changes - Florence Copper began producing copper, with expectations of approximately 30-35 million pounds of copper production in 2026 [4][7] - Gibraltar produced 31 million pounds of copper in Q4, with copper head grades increasing to 0.26% and recoveries at 81% [8][9] - Molybdenum production reached 800,000 pounds, marking the highest production quarter in the history of the mine [9] Market Data and Key Metrics Changes - The average realized copper price in 2025 was CAD 4.61 per pound, benefiting from a weaker Canadian dollar [15] - Copper prices are currently approximately 25% higher than last year's average, supported by tight supply and strong demand from various sectors [11] Company Strategy and Development Direction - The company is focused on ramping up production at Florence Copper and expanding the wellfield, with plans to add 80-100 new wells annually [7][26] - Taseko is advancing projects like Yellowhead and New Prosperity, with Yellowhead expected to attract interest from potential partners due to its strong economics [12][35] - The company aims to prioritize deleveraging its balance sheet as cash flows from Florence Copper begin to materialize [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about cash flow growth due to higher production levels and copper price leverage [11] - The company is taking a conservative view on copper grades at Gibraltar, adjusting expectations based on geological findings [10][31] - Management highlighted the importance of safety and the tragic incident at Gibraltar, emphasizing a commitment to employee well-being [8] Other Important Information - Capital spending for Q4 was CAD 8 million, with total capital costs for the Florence facility at CAD 275 million, slightly over budget [19] - The company ended the year with a cash balance of CAD 188 million and a total liquidity of CAD 340 million [20] Q&A Session Summary Question: What should we expect for CapEx and stripping this year? - Management indicated that CapEx would be slightly less than CAD 80 million from the previous year due to reduced heavy stripping sequences [22] Question: How should we think about grade and throughput this year? - Management expects throughput to achieve design capacity of 85,000 tons per day, with a conservative estimate of grades potentially 5%-10% lower than the reserve grade [23] Question: What risks are being monitored during the ramp-up at Florence? - Management is focused on drilling performance and the need to add new wells as production increases [26][28] Question: What issues are being faced at the Connector pit in Gibraltar? - Management noted that high-grade zones were not realized as expected, requiring adjustments to the geological model [31] Question: What are the next steps for Yellowhead and New Prosperity? - Yellowhead is in the permitting phase with potential JV discussions, while New Prosperity requires consent from the Tilhqot'in Nation for further development [35][36]

Taseko Mines (NYSEAM:TGB) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBrian Bergot - VP of Investor RelationsBryce Hamming - CFODalton Baretto - Managing Director of Equity ResearchRichard Tremblay - COOStuart McDonald - CEOConference Call ParticipantsNone - AnalystOperatorLadies and gentlemen, thank you for standing by. My name is Jericho, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Taseko Mines 2025 Q4 Earnings Conference Ca ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was CAD 244 million, including CAD 25 million from molybdenum, marking the highest quarterly revenue ever recorded by the company [13][14] - For the year, total revenues reached CAD 673 million from the sale of 99 million pounds of copper and 1.9 million pounds of molybdenum, with an average realized copper price of CAD 4.61 per pound [13][14] - Net income for Q4 was CAD 4.5 million, or CAD 0.01 per share, while adjusted earnings were CAD 42 million, or CAD 0.11 per share [15] - Adjusted EBITDA for Q4 was CAD 116 million, significantly higher than CAD 56 million in Q4 2024 [15] - Cash flow from operations for Q4 was CAD 101 million, with CAD 72 million contributed by Gibraltar [15][16] Business Line Data and Key Metrics Changes - Florence Copper commenced copper production with expectations of producing approximately 30-35 million pounds in 2026, following successful wellfield operations [4][6] - Gibraltar produced 31 million pounds of copper in Q4 2025, with copper head grades increasing to 0.26% and recoveries at 81% [7][8] - Molybdenum production reached 800,000 pounds, marking the best production quarter in the history of the mine [8] Market Data and Key Metrics Changes - Copper prices are approximately 25% higher than the previous year's average, driven by tight supply and strong demand from traditional and new sectors [10] - The company expects to benefit from copper price leverage due to increased production from both Gibraltar and Florence [10] Company Strategy and Development Direction - The company is focused on ramping up production at Florence Copper and expanding the wellfield, with plans to add 80-100 new wells annually [28][29] - Taseko is advancing its Yellowhead and New Prosperity projects, with Yellowhead showing strong economics and potential for joint venture partnerships [11][36] - The company is also exploring the development of its Aley niobium project, which is one of the largest undeveloped niobium deposits globally [37] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about cash flow growth in the future, supported by higher production levels and favorable copper prices [10][19] - The company is taking a conservative view on copper grades due to unexpected geological conditions in the Connector pit [9][32] - Management emphasized the importance of safety and the need to stabilize operations following a tragic incident at Gibraltar [7] Other Important Information - The final capital costs for the Florence commercial facility were CAD 275 million, slightly over budget, with capital spending decreasing to CAD 8 million in Q4 [18] - The company ended the year with a cash balance of CAD 188 million and a total liquidity of CAD 340 million [18] Q&A Session Summary Question: What should we expect for CapEx and stripping this year? - The company anticipates slightly lower capitalized stripping costs compared to CAD 80 million last year, with no unusual capital projects expected [21][22] Question: How should we think about grade and throughput this year? - The company expects to achieve design capacity of 85,000 tons per day, with a more conservative estimate for grade potentially 5%-10% lower than the reserve grade of 0.25% [23][24] Question: What risks are being monitored during the ramp-up at Florence? - Management is closely watching drilling performance and the need to add new wells as production increases [28][30] Question: What issues are being faced at the Connector pit? - The company is reinterpreting drill hole results that have skewed the geological model, leading to adjustments in expected grades [32] Question: What are the next steps for Yellowhead and New Prosperity? - Yellowhead is in the permitting phase with potential JV discussions, while New Prosperity's progress depends on the consent of the Tilhqot'in Nation [36][37]

Florence Copper has officially commenced production with the electrowinning circuit active and first cathode harvesting imminent. Initial wellfield results at Florence show higher-than-expected injection flow rates, leading to faster acidification and copper recovery grades than originally planned. Gibraltar achieved its highest quarterly copper and molybdenum production of 2025 in Q4, driven by deeper access to the Connector pit. Management is adopting a more conservative grade outlook for Gibralta ...

Core Insights - Taseko Mines Limited reported a full year 2025 Adjusted EBITDA of $230 million and revenues of $673 million from the sale of 99 million pounds of copper and 1.9 million pounds of molybdenum, despite a net loss of $30 million for the year [3][11][12] Financial Performance - For Q4 2025, Adjusted EBITDA was $116 million, with cash flow from operations at $101 million, and a net income of $4 million [4][15] - Annual revenues increased to $672.9 million in 2025, up from $608.1 million in 2024, driven by higher copper sales [11][12] - The average realized copper price for Taseko was $4.61 per pound in 2025, contributing to strong revenue growth [11] Production Metrics - Gibraltar produced 31 million pounds of copper in Q4 2025 at a total operating cost (C1) of $2.47 per pound, with annual production totaling 98 million pounds at a similar cost of $2.66 per pound [5][25] - Molybdenum production increased to 1.9 million pounds in 2025, up from 1.4 million pounds in 2024, benefiting from higher grades and recoveries [23][25] - The Florence Copper project commenced copper cathode production in February 2026, with a target of 30 to 35 million pounds of copper in 2026 [6][39] Operational Developments - The Connector pit at Gibraltar is expected to remain the primary source of mill feed for the next three years, with total copper production projected between 110 to 115 million pounds in 2026 [34][36] - The Florence Copper SX/EW plant is fully operational, and wellfield expansion is underway to support increased production [6][39][40] - Construction of the Florence Copper facility was completed on time and within budget at $275 million, with no lost time injuries reported during the project [11][38] Strategic Initiatives - Taseko is focused on growing its project pipeline in North America, with significant milestones achieved in the Yellowhead and New Prosperity projects [8][43][46] - The Yellowhead project is projected to produce 4.4 billion pounds of copper over a 25-year mine life at an average C1 cost of $1.90 per pound [43][44] - The New Prosperity project reached a historic agreement with the Tŝilhqot'in Nation, providing a framework for future development [46][54]

Core Viewpoint - Taseko Mines Limited will release its fourth quarter and year-end 2025 financial results on February 18, 2026, after market close [1] Group 1 - The company will host a telephone conference call and live webcast on February 19, 2026, at 11:00 a.m. Eastern Time to discuss the financial results [2] - The conference call can be accessed by dialing 800-715-9871 toll-free or 646-307-1963, using access code 4873075 [2] - The webcast will be available at tasekomines.com/investors/events and archived until February 19, 2027, for later playback [3] Group 2 - For further information, the company can be contacted through Brian Bergot, Vice President of Investor Relations, at 778-373-4533 or toll-free 1-877-441-4533 [3] - Stuart McDonald serves as the President and CEO of the company [3]

Core Insights - Diamond Hill Capital's "Small Cap Strategy" reported a favorable performance in Q4 2025, with the Russell 2000 Index gaining 2.19% and a yearly gain of 12.81% [1] - The firm emphasizes a focus on resilient businesses capable of sustaining earnings amid market volatility as it heads into 2026 [1] Company Performance - Taseko Mines Limited (NYSEAMERICAN:TGB) is highlighted as a leading contributor, with a stock price of $8.37 as of February 4, 2026, and a remarkable 41.15% return in the past month, alongside a 318.50% increase over the past year [2][3] - The company's market capitalization stands at $3.019 billion [2] Market Context - Taseko Mines Limited's stock performance in Q4 was bolstered by a more than 15% increase in copper prices and optimism surrounding its Florence, AZ project [3] - Despite its potential, Taseko Mines Limited is not among the top 30 most popular stocks among hedge funds, with 16 hedge fund portfolios holding the stock at the end of Q3, up from 13 in the previous quarter [3]

Core Viewpoint - Taseko Mines Ltd. (NYSEAmerican:TGB) has shown significant stock performance, increasing by 14.53% to close at $8.83, driven by investor interest in mining stocks and anticipation of upcoming earnings results for Q4 and full-year 2025 [1][4]. Group 1: Financial Performance and Outlook - Taseko Mines is expected to announce its financial and operational highlights between the third and fourth weeks of the current month [2]. - The company has an optimistic outlook for Q4, targeting increases in copper head grades and recoveries [3]. - For the full year 2025, Taseko Mines aims to report copper production between 100 million and 105 million pounds, with improvements in molybdenum production anticipated [3]. Group 2: Market Position and Strategic Agreements - Taseko Mines has secured offtake agreements covering nearly all of Gibraltar's copper concentrate production for 2025 and 2026 [4]. - The company's stock performance has been positively influenced by the US government's Project Vault program, which aims to stockpile critical mineral resources, including copper [4].

Group 1 - The copper mining sector saw a collective pre-market rise, with Ero Copper increasing over 9%, Taseko Mines nearly 9%, Southern Copper up nearly 8%, and Hudbay Minerals rising close to 6% [1] - The price of copper futures surged over 10% during the day, reaching a historical high [1] - Market analyst Divyang Shah noted that while copper's year-to-date increase is less than that of gold and silver, the fundamentals supporting its bullish trend are strong [1] Group 2 - Factors driving the copper market include concerns over the independence of the Federal Reserve, ongoing geopolitical risks, expectations of a weaker dollar, fragmented supply chains, and preemptive market positioning against supply shocks [1] - Additionally, new demand from the artificial intelligence sector is contributing to the investment interest in copper [1]

Group 1 - Taseko Mines Limited (NYSEAmerican:TGB) has seen a significant stock price increase, rising 11.81% to close at $7.29, driven by the upcoming operations at its Florence Copper mine in Arizona [1][3] - The construction at the Florence Copper site is complete, and the company has transitioned to wellfield operations and the commissioning of the SX/EW plant [2] - The CEO of Taseko Mines expressed satisfaction with the initial copper recoveries and the performance of the commercial wellfield, anticipating the start-up of the SX/EW plant and first copper cathode production within weeks [3] Group 2 - Taseko's Gibraltar mine produced approximately 98 million pounds of copper and 1.9 million pounds of molybdenum last year, with fourth-quarter production at 31 million pounds of copper and 800,000 pounds of molybdenum [4] - The production at Gibraltar in the second half of the year showed notable improvement over the first half, with expectations for more consistent quarterly production and higher overall copper production by 2026 [5]