Taseko (TGB) Climbs 11.8% on Looming Copper Site Operations

We recently published 10 Big Names Delivering Outsized Gains. Taseko Mines Limited (NYSEAmerican:TGB) was one of the top performers on Wednesday.

Taseko Mines extended its winning streak to a third straight day on Wednesday, surging 11.81 percent to close at $7.29 apiece as investors took heart from the looming start of operations at its Florence Copper mine in Arizona.

In a statement, Taseko Mines Limited (NYSEAmerican:TGB) said that construction activity at Florence Copper is now complete and that it has shifted to wellfield operations and commissioning of the SX/EW plant.

“The transition from construction to early-stage operations at Florence has gone smoothly, and we are very pleased with the initial copper recoveries and performance of the commercial wellfield. Our project team is focused on the successful start-up of the SX/EW plant in the coming days, followed by first copper cathode production within a few weeks,” said Taseko Mines Limited (NYSEAmerican:TGB) President and CEO Stuart McDonald.

Meanwhile, it also produced last year some 98 million pounds of copper and 1.9 million pounds of molybdenum at its Gibraltar mine.

Fourth quarter production alone stood at 31 million pounds of copper and 800,000 pounds of molybdenum.

“Gibraltar production in the second half of the year was a notable improvement over the first half of the year with higher grades and better quality ore. Looking ahead to 2026, we expect more consistent quarterly production, now that we are better situated in the Connector pit, and higher overall copper production,” McDonald said.

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Disclosure: None. This article is originally published at Insider Monkey.