TGB · Taseko Mines Limited

Taseko Mines provided a first quarter operational update highlighting the successful initial ramp-up at Florence Copper, its new in-situ SX/EW operation in Arizona, which commenced in mid-February 2026 and produced 1.5 million pounds of copper cathode. This output aligns with the company's modeling expectations, with current efforts focused on optimizing solution flows and grades from the wellfield. Management noted the integration of additional newly constructed wells to boost flows and production in coming weeks, alongside ongoing wellfield expansion using four active drills and a fifth imminent. At the flagship Gibraltar Mine in British Columbia, production strengthened significantly with 30.0 million pounds of copper and 717 thousand ounces of molybdenum, reflecting 50% and 113% increases over the Q1 2025 period. Copper grades matched the life-of-mine average, while recoveries advanced to 83%. Copper sales totaled 27 million pounds, impacted slightly by shipment timing. The Gibraltar SX/EW plant contributed steadily with 733 thousand pounds of cathode despite winter conditions. CEO Stuart McDonald described results as solid and in line with expectations, anticipating strong financial performance from Gibraltar's steady output and Florence's growth. Notably, Florence benefits from a fixed-price sulphuric acid contract for 2026, mitigating inflationary pressures on inputs like diesel, which could raise Gibraltar costs by US$0.10-0.15 per pound at current levels. This update underscores operational momentum across assets, positioning Taseko for enhanced copper output amid robust market conditions.