Taseko Mines L. Share Price (TKO)

Quick revision to the previous message for my own notes: that was an underestimate and use of wrong currency!

2023 earnings were £150m ($190m) and annual cashflow £120m ($151m). Since the last quarter of 2023 when commodity prices began to climb the profitability of Gibraltar has increased faster than broker estimates * Taseko increased it's interest in the mine from 50% to now 100% over the past year, completing just at the right time in the commodity price curve.

Worth noting figures reported by Taseko in relation to the Gibraltar mine are using the % proportionate share of their Gibraltar income / expenses. This was 75% up until roughly April 2023 and 87.5% up until March this year. Future quarterly reports will now display the entire 100% share Taseko holds in Gibraltar, there should be a marked increase in the second quarter results due next month (the change came into effect on March 25).

First quarter cash flow more than doubled from £22m ($28m) to £46m ($59m) over the year, although bear in mind this increase also includes the increased share of Gibraltar earnings from 75% to 87.5% during the period.

To clarify FY 2026 earnings are expected to jump to more than £400m ($500m) once Florence has been in production for a year.

Absence of a maiden divi is a deterrent in my case. And I suspect nearly all transactions today again originated from Canada/US.

No word on a maiden dividend. Purely speculative thought based upon analysis of the changing picture. Two operating mines with one development will throw off vast sums of cash. Currently one operating mine with two in development, even factoring in mine financing and expected repayments Taseko will soon enter a phase of mass revenue generation. Annual earnings amounting to $120m currently are expected to jump to more than $400m in 2026 (first commercial production at Florence Q4 2025). Copper prices could well be a good deal higher by then although have already risen 20% this past year alone!

For guaranteed copper exposed dividend payments look no further than Central Asia Metals (CAML) and Blackrock World Mining (BRWM).

I see the week's trades are mostly US$ and C$ thus dragging the SP to new heights. Fresh thinking required. (Similar story with e.g. GTE.)(Share, you probably are one who has experience re liquidity)

A useful reminder and (cattle) prod. W.r.t your final sentence has any indication been given . . . it would be my lure ?