Taseko Reports First Quarter Production Results

Taseko (TSX:TKO, NYSE:TGB) announced that they produced 355 thousand pounds of molybdenum in Q1 2013  at its 75% owned Gibraltar Mine.

As quoted in the press release:

Total sales in the first quarter were 21.5 million pounds of copper and 337 thousand pounds of molybdenum. Taseko’s 75% share of first quarter sales was 16.1 million pounds of copper and 253 thousand pounds of molybdenum.

Taseko’s President and CEO, Russell Halblauer said:

We are extremely pleased with how commissioning progressed on the new concentrator, and this is reflected in how well the system is working after only six operating days. Early results from Concentrator #2 performance are as expected and we anticipate advancing to design capacity as expeditiously as the mechanical circuits allow. This is in line with our projections of full design throughput of 30,000 tons per day by mid-year. Additionally, improved operating performance is anticipated from Concentrator #1 as it is now unencumbered by construction activities.

To view the whole press release, click here.