Taseko’s Q1 2012 Production Lower Than Expected

Base Metals Investing

Taseko Mines Ltd. (TSX:TKO,AMEX:TGB) announced that its production results for the first quarter of 2012 were lower than expected.

Taseko Mines Ltd. (TSX:TKO,AMEX:TGB) announced that its production results for the first quarter of 2012 were lower than expected.

According to the press release, highlights for the quarter included:

  • Revenues for the first quarter 2012 were $55.4 million from the sale of 12.8 million pounds of copper and 354 thousand pounds of molybdenum.
  • Total production at Gibraltar (100%), for the quarter ended March 31, 2012 was 20.7 million pounds of copper and 438 thousand pounds of molybdenum.
Russell Hallbauer, President and CEO of Taseko, commented:

As previously disclosed, first quarter production was lower than anticipated due to ore characteristics, severe winter weather, ground water incursion at the lower level benches and a five-day unplanned shutdown to repair a SAG mill motor. These challenges resulted in reduced mill throughput of approximately 750,000 tons, or four million pounds of copper production.

The Conversation (0)
×