Taseko Mines (TKO.TO, NYSE:TGB) announced its 75% owned Gibraltar mine in British Columbia produced 34.5 million pounds of copper and over half a million pounds of molybdenum which is an increase of respectively 49% and 59% compared to the production numbers in Q1 2013 when the expansion program wasn’t completed yet.
As total sales from the Gibraltar mine were 40 million pounds of copper and almost 600,000 pounds of molybdenum (on a 100% basis), we’re expecting Taseko to report very decent financial results for Q1 2014. Even without New Prosperity Taseko Mines isn’t trading expensive and it could be interesting to keep an eye on them.
Disclosure: The author holds no position in Taseko Mines. Please see our disclaimer for current positions.