Currently, the Company has copper collar contracts in place with a floor of US$4.00 per pound and a ceiling of US$5.40 per pound for 54 million pounds of copper production for the first half of 2026 and a floor of US$4.75 per pound and a ceiling of between US$7.50 and US$8.50 per pound for 24 million pounds of copper production for the third quarter of 2026 (refer to “Financial Condition Review—Hedging Strategy” for details). (Cdn$ in thousands) Q4 2025 Q3 2025 Q2 2025 Q1 2025 2025 Cost of sales 146,919 134,664 120,592 122,783 524,958 Less: Depletion and amortization (27,207 ) (27,876 ) (25,210 ) (22,425 ) (102,718 ) Changes in inventories of finished goods (2,611 ) 1,425 2,123 (2,710 ) (1,773 ) Changes in inventories of ore stockpiles 13,473 16,685 (5,718 ) (22,747 ) 1,693 Transportation costs (10,989 ) (7,247 ) (5,720 ) (5,984 ) (29,940 ) Site operating costs 119,585 117,651 86,067 68,917 392,220 Less by-product credits: Molybdenum, net of treatment costs (25,095 ) (13,903 ) (4,814 ) (8,774 ) (52,586 ) Silver, excluding amortization of deferred revenue 312 (295 ) (58 ) (131 ) (172 ) Gold (619 ) (761 ) (351 ) (389 ) (2,120 ) Site operating costs, net of by-product credits 94,183 102,692 80,844 59,623 337,342 Total copper produced (thousand pounds) 30,712 27,593 19,813 19,959 98,077 Total costs per pound produced (US$ per pound) 3.07 3.72 4.08 2.99 3.44 Average exchange rate for the period (CAD/USD) 1.39 1.38 1.38 1.44 1.40 Site operating costs, net of by-product credits (US$ per pound) 2.21 2.70 2.96 2.08 2.46 Site operating costs, net of by-product credits 94,183 102,692 80,844 59,623 337,342 Add off-property costs: Treatment and refining costs (premiums) 394 (512 ) (837 ) (510 ) (1,465 ) Transportation costs 10,989 7,247 5,720 5,984 29,940 Total operating costs 105,566 109,427 85,727 65,097 365,817 Total operating costs (C1) (US$ per pound) $ 2.47 $ 2.87 $ 3.14 $ 2.26 $ 2.66 (Cdn$ in thousands) Q4 2024 Q3 2024 Q2 2024 Q1 20241 2024 Cost of sales 134,940 124,833 108,637 122,528 490,938 Less: Depletion and amortization (24,641 ) (20,466 ) (13,721 ) (15,024 ) (73,852 ) Changes in inventories of finished goods 4,064 2,938 (10,462 ) (20,392 ) (23,852 ) Changes in inventories of ore stockpiles (3,698 ) 9,089 1,758 2,719 9,868 Transportation costs (10,170 ) (8,682 ) (6,408 ) (10,153 ) (35,413 ) Site operating costs 100,495 107,712 79,804 79,678 367,689 Less by-product credits: Molybdenum, net of treatment costs (16,507 ) (8,962 ) (7,071 ) (6,112 ) (38,652 ) Silver, excluding amortization of deferred revenue (139 ) (241 ) (144 ) (137 ) (661 ) Site operating costs, net of by-product credits 83,849 98,509 72,589 73,429 328,376 Total copper produced (thousand pounds) 28,595 27,101 20,225 26,694 102,615 Total costs per pound produced (US$ per pound) 2.94 3.63 3.59 2.75 3.20 Average exchange rate for the period (CAD/USD) 1.40 1.36 1.37 1.35 1.37 Site operating costs, net of by-product credits (US$ per pound) 2.10 2.66 2.62 2.04 2.33 Site operating costs, net of by-product credits 83,849 98,509 72,589 73,429 328,376 Add off-property costs: Treatment and refining costs 2,435 816 3,941 4,816 12,008 Transportation costs 10,170 8,682 6,408 10,153 35,413 Total operating costs 96,454 108,007 82,938 88,398 375,797 Total operating costs (C1) (US$ per pound) $ 2.42 $ 2.92 $ 2.99 $ 2.46 $ 2.66 1Amounts for Q1 2024 reflect the impact from the March 25, 2024 acquisition of Cariboo from Dowa and Furukawa, which increased the Company’s effective interest in the Gibraltar mine from 87.5% to 100%.
Author: Taseko Mines Limited
Published at: 2026-02-18 22:18:00
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