Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Production / Operations Routine +

Taseko Updates Florence Copper and Gibraltar First Quarter Production

Florence Copper Production Confirmed, Gibraltar Ramp-Up Validates Guidance Amidst Cost Headwinds

By The Northwire Desk — AI Analysis Apr 14, 2026 · 08:30 TKO · 10.24 Taseko Mines Limited
Executive Summary
  • Taseko Mines reported Q1 2026 production results for its two primary assets: Florence Copper and Gibraltar Mine.
  • Florence Copper SX/EW plant commenced operations mid-February 2026; produced 1.5 million pounds of copper cathode in Q1.
  • Initial leaching and production are aligned with modeling; focus is on balancing solution flow and grades for ramp-up.
  • Four drills currently operating at Florence, fifth expected shortly to increase solution flows.
  • Gibraltar Mine saw significant year-over-year growth: Copper up 50% (30.0 million pounds), Molybdenum up 113% (717 thousand pounds).
  • Recoveries improved to 83%; copper grades remained in line with life of mine average grade.
  • LME copper prices rose 16% over the previous quarter, supporting revenue per pound.
  • Rising diesel prices estimated to increase Gibraltar operating costs by US$0.10 to US$0.15 per pound for the year.
  • Fixed price contract in place for all 2026 sulphuric acid requirements at Florence, mitigating inflationary pressure on that asset.
Material Impact
  • The news confirms the successful start-up of Florence Copper announced in March 2026 ("First Cathode Harvest"), validating the execution timeline without significant delays.
  • Gibraltar production beat expectations with a 50% year-over-year increase, aligning with management's guidance raised in February 2026 (110–115 M lbs for full year).
  • The diesel cost increase ($0.10-$0.15/lb) is a negative operational headwind but appears manageable given the production volume growth and hedging program mentioned in prior releases.
  • This update is largely consistent with previous expectations set during the Q4 2025 earnings call (Feb 18, 2026) and the March milestone announcement; it does not introduce fundamentally new catalysts or surprises.
  • The confirmation of production volume reduces execution risk for Florence Copper but does not alter the valuation thesis significantly as the market has already priced in the start-up success over the last quarter (price moved from ~$8 to $12 range).
  • Rating is Routine - Positive because it serves as a verification of previously announced milestones rather than a new material development.
TKO · Price
Company Overview
  • Taseko Mines Limited operates two primary copper assets in North America: Gibraltar Mine (British Columbia) and Florence Copper (Arizona).
  • Gibraltar Mine: Existing open-pit mine producing copper and molybdenum; currently ramping up production into the Connector pit.
  • Florence Copper: Greenfield project utilizing In-Situ Copper Recovery (ISCR); SX/EW plant completed and operational as of Q1 2026. Nameplate capacity is 85 million pounds per year.
  • Yellowhead Project: Tier-one jurisdiction copper-gold project in British Columbia; updated technical report shows NPV $2.0B and IRR 21%. Permitting phase ongoing.
  • New Prosperity Project: Agreement reached with Tsilhqot'in Nation and BC Province; Taseko retains 77.5% interest, future development requires Indigenous consent.
Read the original news release →

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