Taseko Mines Sees 120–130M lb Copper Output and $1.10/lb Costs at Florence 2026
Taseko Mines shares traded at $8.24 on February 9, carrying a trailing P/E of 17.91 and forward P/E of 16.31. Its Gibraltar mine yields 120–130 million pounds of copper annually while Florence Copper’s ISR project aims for 80–85 million pounds at C1 costs near $1.10 by 2026.
1. Bull Thesis Summary
Taseko Mines combines stable cash flow from its Gibraltar mine with near-term growth from the Florence Copper ISR project, offering exposure to an expected tightening copper market with lower speculative risk than typical small-cap miners.
2. Gibraltar Mine Production
The Gibraltar mine in British Columbia produces approximately 120–130 million pounds of copper annually, generating recurring cash flow that underpins the company’s financial stability and supports ongoing operations.
3. Florence Copper Project Details
Florence Copper in Arizona uses in-situ recovery to avoid open-pit mining, targeting annual production of 80–85 million pounds of copper at C1 cash costs near $1.10 per pound, with commercial output slated for 2026 and progressive ramp-up thereafter.
4. Valuation and Outlook
With a market capitalization of about C$3.2 billion, Taseko projects roughly C$750 million in annual EBITDA by 2027, implying a forward multiple near 4–5x EBITDA and potential for debt reduction, self-funded growth or capital returns as Florence scales.