Strong day over the water yesterday
New copper mine in USA will backstop this now |
Yep looking forward to flo coming on line. Feels like it's been a long wait but should drive share price imo. |
Trump and his playbook seem to represent a great opportunity for TKO's Florence copper. Good price for it I'd imagine. |
TSX likes the latest TKO results |
Think market has missed the rise in the copper price IMO in relation to TKO....DYOR have bought some more accordingly! |
 Taseko Mines
Taseko Comments on New US and Canadian Tariffs
February 3, 2025, Vancouver, BC – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") provides the following update with respect to the new trade tariffs announced by the US and Canadian governments this weekend.
Taseko confirms that US import tariffs will have no impact on sales from its 100%-owned Gibraltar Mine. The mine produces copper and molybdenum concentrates that are sold to international metal traders and delivered to Asian markets. Offtake contracts are in place for 100% of copper concentrate production through the end of 2026, and no changes to these sales channels are expected during this period.
Taseko’s 100%-owned Florence Copper Project is currently under construction in Arizona, USA; the new operation is expected to produce first copper in Q4 2025. Florence is the only new copper mine currently under construction in the United States and will be a major new supplier of refined copper cathode for the US domestic market.
The Company does not expect any material impact on Florence construction costs or Gibraltar Mine operating costs as a result of the new tariffs. At Florence, construction procurement activities are essentially complete, and all construction materials are already on site or being fabricated in the US. At Gibraltar, based on the initial list of retaliatory tariffs published by the Government of Canada, the Company does not expect any material impact on mine operating costs.
Stuart McDonald, President & CEO of Taseko, commented, “Although these new tariffs will not directly impact our business, as a North America focussed copper producer we are hopeful that a more constructive trade relationship will emerge for copper and other critical minerals, for the benefit of both Canada and the United States. Going forward, we believe Canada must continue to diversify its economy by redoubling efforts to expedite development of critical mineral mines.” |
When Flo is fully operational it will be about 60:40 Gib v Flo |
Any ideas as to what % of production ends up in the US? Just thinking in terms of any potential tariff impact. In 2023 52% of Canada's copper related exports went to the US, so probably means it is meaningful for TKO. |
Yes all on track just a Pity that their application for favourable tax treatment was declined. It appears in the middle of the statement but market hasn't reacted too badly - guess the potential benefit was never priced in. |
Decent update on Florence. All looks on track. |
A real gem this share, totally overlooked by the main stream IMO...once Flo is on stream or near to it, and with copper holding up way over $4 really well, this share IMO will motor...DYOR |
agreed, and copper price holding up v well also |
Yep good production and clear indication more to come over the next 12 months from gib alone. |
Nice update DYOR |
Looking forward to an update soon on production output for Q4 and progress on Florence. Could be a good month share price wise if we get confirmation of tax breaks on the new line... |
well IMO a slightly stronger $ in short term won't have a big impact, but it will weaken further IMO as the debt/deficit all keep going up each year & risks around that keep mounting
Demand wise is uncertain IMO, his tariffs on China will hit a weakened economic China but will it strengthen elsewhere? Who knows.....
DYOR, but underlying fundamentals IMO on TKO outweigh all this and biggest driver is lack of supply for increasing demand of copper....DYOR |
Couple of incidents this year have set TKO back a bit with the strike and then 3 week shutdown in back to back quarters. However, Florence progress is good with potentially very good news on the tax credit front. Have to see how the copper price trends over the coming months with the Trump presidency... |
Didn't see this as a great quarter and it wasn't but I'm still in for long term as flo cashflow once up and running should deliver much improved share price imo |
Going to have to be patient, but chucking off material EBITDA while bringing Flo on line with another backed up next. DYOR but valuation still looks super compelling at c.£500m market cap...DYOR
Views? |
Good update on Florence. Will be great news if in January we hear we get a tax credit of 110 million dollars! Let's wait and see. |
Quarterly results normally around end of Oct or start of November in any case so not long to wait for an update. |
Does anyone know if we will get an update from TKO on Q3 production or will we just have to wait for the quarterly results? |
Last year Taseko announced Q3 results on 4 Oct so hopefully this years will be due this week at some point or maybe next? |
Count: which "bombed out explorers" are you watching? |
well TKO is illiquid stock in the UK IMO, so it can get squeezed quickly either way.
I am punting on continued $ weakness + structural supply side issue with Copper combined with AI/Electrification Demand continuing to rise.
TKO being a 1st world producer helps reduce political risk as well.
DYOR. Am continuing to add below £2, when Flo comes on board some serious hay should be delivered....DYOR |
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