Taseko’s Q1 2012 Production 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.

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.