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Stock Market & Financial Investment News

News Breaks
April 4, 2014
12:16 EDTTGBTaseko Mines reports Q1 total sales of 40M pounds of copper from Gibraltar Mine
Taseko announced first quarter total sales of 40M pounds of copper and 589,000 pounds of molybdenum from its 75% owned Gibraltar Mine. The significant increase in copper sales was a result of strong production for the quarter as well as a reduction in higher than normal inventory levels. In the first quarter, total production was 34.5M pounds of copper and 566,000 pounds of molybdenum, a 49% and 59% increase, respectively, since the first quarter 2013. Russell Hallbauer, President and CEO of Taseko, commented, "Our strong copper sales volumes for the quarter are a result of our successful efforts to move concentrate from the mine site to Vancouver for vessel loading prior to quarter end. These results were achieved despite inconsistent rail service due to severe winter weather in the Canadian prairies which impacted all bulk rail shippers throughout the country. Our goal is to maintain minimum inventory levels going forward."
News For TGB From The Last 14 Days
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October 14, 2014
10:01 EDTTGBOn The Fly: Analyst Downgrade Summary
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08:34 EDTTGBTaseko Mines downgraded to Hold from Buy at TD Securities
October 9, 2014
09:08 EDTTGBTaseko Mines: The pit movement at Granite Pit has resulted in plan adjustments
CEO Russell Hallbauer said, "The recent pit wall movement, which was relatively minor, has resulted in plan adjustments which will impact copper production and costs in the short-term. In conjunction with this event, the longer ore haul out of the bottom of the pit has affected our truck fleet productivities, increasing haulage costs. This is a temporary, cyclical situation which will be alleviated when operations transition back to the upper benches of the Granite Pit in the next few weeks. We are currently reviewing alternative mining plans for 2015, with the goal of maintaining a healthy profit margin and cash flow. As part of this review, we are investigating options to address the lower than budgeted waste stripping in 2014, due to shovel availability issues in the first half of the year, and the delayed ore release resulting from the pit wall movement. We have a number of options available to us and will move forward with a plan that addresses these two issues while ensuring the best overall operating margins."
09:07 EDTTGBTaseko Mines announces Q3 production results
Taseko Mines announces third quarter production of 35.4M pounds of copper and 650K pounds of molybdenum from the Gibraltar Mine. Year-to-date production is 108.4M pounds of copper and 1.9M pounds of molybdenum, increases of 23% and 96%, respectively, over the same period in 2013. In the third quarter, total sales were 38.1M pounds of copper and 700K pounds of molybdenum. The Gibraltar concentrators operated at design capacity during the third quarter, averaging 85,000 tons per day. Total throughput for the quarter was 7.8 million tons, a 15% increase over the same period in 2013. While the quantity of ore released in the quarter was as planned, head grade was below forecast due to high wall stability issues that affected the quarterly development sequence. Mining operations were temporarily shifted to ore faces with lower grade ore. The lower grade ore also negatively impacted recoveries.

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