Taseko Announces A 26% Increase In Annual Copper Production From Its Gibraltar Mine; Produced 34M Pounds Of Copper And 369K Pounds Of Molybdenum In Q4 Of 2023
Portfolio Pulse from Benzinga Newsdesk
Taseko Mines Limited (NYSE:TGB) reported a 26% increase in annual copper production from its Gibraltar mine, with 123 million pounds produced in the full year. Q4 2023 saw 34 million pounds of copper and 369 thousand pounds of molybdenum produced. The company experienced higher copper grades and mill throughput, despite downtime for maintenance. Copper sales volumes reached 36 million pounds in Q4, with year-end concentrate inventories above normal levels. The company anticipates continued strong performance in 2024.
January 10, 2024 | 1:09 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Taseko Mines Limited (TGB) reported a significant increase in copper production, exceeding guidance with a strong Q4 performance and anticipates continued strength in 2024.
The reported increase in annual copper production and strong Q4 performance are positive indicators for Taseko Mines' financial health and operational efficiency. This news is likely to be well-received by investors, potentially leading to a short-term increase in stock price. The anticipation of continued strong performance in 2024 adds to the positive outlook, reinforcing investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100