This release should
be read with the Company's Financial Statements and Management
Discussion & Analysis ("MD&A"), available at
www.tasekomines.com and filed on www.sedar.com.
Except where otherwise noted, all currency amounts are stated in
Canadian dollars. Taseko's 75% owned Gibraltar Mine is located
north of the City of Williams Lake in south-central British
Columbia. Production volumes stated in this release are on a 100%
basis unless otherwise indicated.
|
VANCOUVER, May 2, 2018 /PRNewswire/ - Taseko Mines
Limited (TSX: TKO; NYSE American: TGB) ("Taseko" or the "Company")
reports the results for the three months ended March 31, 2018.
Russell Hallbauer, President and
CEO of Taseko, commented, "As disclosed in our year-end report,
production in early 2018 continued to be impacted by waste
stripping shortfalls from 2017, where we effectively lost two
months of waste stripping. With our stripping schedule
compromised, our new pushback was delayed and only lower grade ore
was available to process."
"The lower grades and resultant reduced copper and molybdenum
production had a significant impact on our financial performance in
the first quarter. But even with the low grades, we still managed
to generate $12 million of Cash flow
from operations and $14 million of
earnings from mining operations before depreciation and
amortization* in the quarter. Our adjusted net loss* of
$11 million (or $0.05 per share) was negatively impacted by
increased use of stockpiled ore as well as provisional pricing
adjustments," stated Mr. Hallbauer.
Mr. Hallbauer continued, "Gibraltar head grades can fluctuate quite
dramatically quarter-over-quarter as a result of the mining
sequence, consistent with any other large mining operation.
However, over longer periods of time average mined grades will
revert to the life of mine average grade. Gibraltar has 21 years of mine life remaining,
so this quarter's metal production shortfall is a short-term issue.
The Canadian dollar price of copper remains roughly $4.00 per pound, the strongest it has been since
2011, and with copper grades increasing we see both metal
production and financial performance returning to more
representative levels."
"I am very pleased to report that our Florence Copper Project
continues to advance on-time and on budget. We will begin testing
the injection and recovery well systems in the coming weeks and the
SX/EW plant construction is well underway and expected to be
operational in the next six months. Importantly, the recent changes
to US tax legislation have had a significant impact on the
project's after tax net present value, raising it from US$680 million** to approximately US$760 million, based on current estimates.
Florence Copper, with its very low
capital and operating costs, is one of the best near-term copper
projects on the horizon and will have a material impact on our
Company," added Mr. Hallbauer.
"In addition to Florence Copper,
we have an exciting near-term catalyst with our Aley Niobium
Project. After three years of additional engineering work, we are
in the final stages of completing an updated technical report. This
report will demonstrate both lower capital costs and improved mine
economics at a lower long-term niobium price. We look forward to
publicly releasing that report in the near future. Both of these
projects point to a bright future for the Company," concluded Mr.
Hallbauer.
First Quarter Highlights
- Earnings from mining operations before depletion and
amortization* was $13.5 million;
- The increased use of stockpiled ore resulted in a non-cash
inventory expense and additional depletion and amortization which
reduced earnings from mining operations by $5.2 million in the first quarter of 2018;
- Cash flow from operations was $11.6
million, a decrease from the same period in 2017 due to
lower copper production and sales volumes;
- In September 2017, the Company
announced that it was moving forward with the construction of the
Production Test Facility ("PTF") for the Florence Copper Project.
The SX/EW plant and the associated wellfield, comprised of 24
production, monitoring, observation and point of compliance wells,
will be built for approximately US$25
million. Wellfield drilling was completed in early April and
construction of the process plant progressed smoothly through the
first quarter, with steel for the plant being erected at the end of
the quarter. The project is on-time and on budget with expenditures
in the first quarter being approximately $14.3 million or US$10.8
million. The facility is expected to be operational by the
end of the third quarter of 2018, with first copper cathode being
produced in December;
- Copper and molybdenum production in the first quarter was 22.9
million pounds and 0.4 million pounds, respectively, a decrease
from previous quarters as a result of the anticipated lower grade
mine feed combined with the increased use of lower grade ore
stockpiles, a consequence of the summer wildfires;
- Net loss was $18.5 million (or
$0.08 per share) and Adjusted net
loss* was $11.0 million (or
$0.05 per share);
- Site operating costs, net of by-product credits* were
US$2.02 per pound produced and Total
operating costs (C1)* were US$2.33
per pound produced. Spending in the quarter remained at a similar
level as previous quarter but unit costs were impacted by the lower
grades and production;
- Total sales (100% basis) for the quarter were 22.8 million
pounds of copper and 0.4 million pounds of molybdenum; and
- The Company's cash balance at March 31,
2018 was $64 million, reduced
from $80 million at the end of 2017
due in part to cash used for construction of the Florence Copper
PTF.
HIGHLIGHTS
Financial
Data
|
Three months ended
March 31,
|
(Cdn$ in thousands,
except for per share amounts)
|
2018
|
2017
|
Change
|
Revenues
|
64,179
|
104,389
|
(40,210)
|
Earnings from mining
operations before depletion and amortization*
|
13,544
|
53,427
|
(39,883)
|
Earnings (loss) from
mining operations
|
(1,236)
|
43,850
|
(45,086)
|
Net income
(loss)
|
(18,481)
|
16,479
|
(34,960)
|
|
Per share - basic
("EPS")
|
(0.08)
|
0.07
|
(0.15)
|
Adjusted net income
(loss)*
|
(10,999)
|
15,254
|
(26,253)
|
|
Per share -
basic ("adjusted
EPS")*
|
(0.05)
|
0.07
|
(0.12)
|
EBITDA*
|
370
|
49,145
|
(48,775)
|
Adjusted
EBITDA*
|
7,537
|
47,934
|
(40,397)
|
Cash flows provided
by operations
|
11,556
|
79,765
|
(68,209)
|
|
|
Operating Data
(Gibraltar - 100% basis)
|
Three months ended
March 31,
|
|
2018
|
2017
|
Change
|
Tons mined
(millions)
|
26.7
|
21.8
|
4.9
|
Tons milled
(millions)
|
7.5
|
7.3
|
0.2
|
Production (million
pounds Cu)
|
22.9
|
41.3
|
(18.4)
|
Sales (million pounds
Cu)
|
22.8
|
40.8
|
(18.0)
|
OPERATIONS ANALYSIS
First quarter results
First quarter copper production at Gibraltar was 22.9 million pounds, lower than
recent quarters as a result of reduced head grades and
recoveries. Copper head grade at Gibraltar was 0.201% in the first quarter and
the Company expects the head grade for the remainder of 2018 to be
in line with the average life of mine reserve grade of 0.26%.
Although the lower head grade in the first quarter was expected in
the mine plan, head grade was also affected by reduced waste
stripping in the third quarter of 2017 due to the summer wildfires
in the Cariboo region and as a result more mill feed came from the
stockpile than planned in the first quarter. The low head
grades and some oxidation from stockpile ore also impacted copper
recoveries which averaged 76% for the period.
A total of 26.7 million tons were mined during the quarter at a
strip ratio of 4.1 to 1. Waste stripping costs of $14.7 million (75% basis) were capitalized in the
quarter related to the new pushback in the Granite pit.
Approximately 2.5 million tons of ore were drawn from the ore
stockpile in the first quarter.
Site operating cost per ton milled* was $8.68 in the first quarter of 2018, which is
higher than the fourth quarter of 2017 primarily due to the
decreased capitalization of stripping costs and a decrease in the
tons milled during the first quarter.
Site operating costs, net of by-product credits per pound
produced* increased to US$2.02 in the
first quarter of 2018 from US$1.69 in
the fourth quarter of 2017. Total site spending in the first
quarter remained at a similar level to the previous quarter, but
unit operating costs increased due to the lower copper production
and lower capitalized stripping costs in the period. A total of 0.4
million pounds of molybdenum were sold resulting in by-product
credits per pound produced* of US$0.23 in the first quarter. The increase in
molybdenum by-product credit was a result of higher molybdenum
prices.
Off-property costs per pound produced* were US$0.31 for the first quarter of 2018 compared to
US$0.34 for the 2017 year. The lower
Off-property costs per pound produced* was primarily a result of
lower treatment and refining costs charged on the Company's copper
concentrate sales.
Total operating costs (C1) per pound* increased to US$2.33, a 10% increase from the fourth quarter
of 2017.
REVIEW OF OPERATIONS
Gibraltar Mine (75% Owned)
|
|
|
|
|
|
|
Operating data
(100% basis)
|
|
Q1
2018
|
Q4
2017
|
Q3
2017
|
Q2
2017
|
Q1
2017
|
Tons mined
(millions)
|
|
26.7
|
26.9
|
23.3
|
21.1
|
21.8
|
Tons milled
(millions)
|
|
7.5
|
7.9
|
7.2
|
7.5
|
7.3
|
Strip
ratio
|
|
4.1
|
4.9
|
4.1
|
2.8
|
2.4
|
Site operating cost
per ton milled (CAD$)*
|
|
$8.68
|
$7.68
|
$5.93
|
$7.67
|
$8.59
|
Copper
concentrate
|
|
|
|
|
|
|
|
Grade (%)
|
|
0.201
|
0.209
|
0.284
|
0.309
|
0.328
|
|
Recovery
(%)
|
|
75.7
|
77.5
|
86.1
|
85.2
|
85.9
|
|
Production (million
pounds Cu)
|
|
22.9
|
25.5
|
35.1
|
39.4
|
41.3
|
|
Sales (million pounds
Cu)
|
|
22.8
|
32.0
|
30.2
|
40.7
|
40.8
|
|
Inventory (million
pounds Cu)
|
|
2.9
|
2.7
|
9.3
|
4.6
|
5.9
|
Molybdenum
concentrate
|
|
|
|
|
|
|
|
Production (thousand
pounds Mo)
|
|
443
|
537
|
445
|
789
|
866
|
|
Sales (thousand
pounds Mo)
|
|
433
|
589
|
403
|
794
|
859
|
Per unit data (US$
per pound produced)*
|
|
|
|
|
|
|
|
Site operating
costs*
|
|
$2.25
|
$1.86
|
$0.97
|
$1.08
|
$1.15
|
|
By-product
credits*
|
|
(0.23)
|
(0.17)
|
(0.09)
|
(0.11)
|
(0.15)
|
Site operating costs,
net of by-product credits*
|
|
$2.02
|
$1.69
|
$0.88
|
$0.97
|
$1.00
|
Off-property
costs
|
|
0.31
|
0.42
|
0.30
|
0.34
|
0.33
|
Total operating costs
(C1)*
|
|
$2.33
|
$2.11
|
$1.18
|
$1.31
|
$1.33
|
GIBRALTAR
OUTLOOK
Looking beyond the first quarter, with the transition into the
new ore zone completed, copper grade will increase and we expect
the average copper grade for the remainder of 2018 to be in line
with Gibraltar's average life of
mine reserve grade of 0.26%.
Copper markets have shown continued strength with prices at
US$3.07 per pound as of May 1, 2018. Molybdenum prices have also stayed
strong at US$12.40 per pound as of
May 1, 2018.
The Company is pursuing an insurance claim related to the
Cariboo region wildfires in July 2017. The amount of the
insurance claim has not been finalized and is currently estimated
to be in the range of $4 to
$10 million on a 75% basis.
REVIEW OF PROJECTS
Taseko's strategy has been to grow the Company by leveraging
cash flow from the Gibraltar Mine to assemble and develop a
pipeline of projects. We continue to believe this will generate the
best, long-term returns for shareholders. Our development projects
are located in British Columbia
and Arizona and represent a
diverse range of metals, including gold, copper, molybdenum and
niobium. Our project focus is currently on the development of the
Florence Copper Project.
Florence Copper Project
In September 2017, the Company
announced that it was moving forward with the construction of the
Production Test Facility ("PTF") for the Florence Copper Project.
The SX/EW Plant and the associated wellfield, comprised of 24
production, monitoring, observation and point of compliance wells,
will be built for approximately US$25
million. Wellfield drilling was completed in early April and
construction of the process plant progressed smoothly through the
first quarter, with steel for the plant being erected at the end of
the quarter.
The project is on time and on budget with expenditures in the
first quarter being approximately $14.3
million or US$10.8 million.
The entire facility, plant and wells are expected to be fully
operational by the end of the third quarter of 2018.
Aley Niobium Project
In 2014, the Company filed an NI43-101 technical report for the
Aley Niobium Project. Further engineering and metallurgical test
work has been completed since then which is expected to result in
improved project economics. Environmental monitoring on the
project continues and a number of product marketing initiatives are
underway.
The Company will host
a telephone conference call and live webcast on Thursday, May 3,
2018 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific) to discuss
these results. After opening remarks by management, there
will be a question and answer session open to analysts and
investors. The conference call may be accessed by dialing (877)
303-9079 in Canada and the United States, or (970) 315-0461
internationally. The conference call will be archived for later
playback until May 10, 2018 and can be accessed by dialing (855)
859-2056 in Canada and the United States, or (404) 537-3406
internationally and using the passcode 2584329.
|
Russell Hallbauer
President and CEO
No regulatory authority has approved or
disapproved of the information in this news release.
NON-GAAP PERFORMANCE MEASURES
This document includes certain non-GAAP performance measures
that do not have a standardized meaning prescribed by IFRS. These
measures may differ from those used by, and may not be comparable
to such measures as reported by, other issuers. The Company
believes that these measures are commonly used by certain
investors, in conjunction with conventional IFRS measures, to
enhance their understanding of the Company's performance. These
measures have been derived from the Company's financial statements
and applied on a consistent basis. The following tables below
provide a reconciliation of these non-GAAP measures to the most
directly comparable IFRS measure.
Total operating costs and site operating costs, net of
by-product credits
Total costs of sales include all costs absorbed into inventory,
as well as transportation costs and insurance recoverable. Site
operating costs is calculated by removing net changes in inventory,
depletion and amortization, insurance recoverable, and
transportation costs from cost of sales. Site operating costs, net
of by-product credits is calculated by removing by-product credits
from the site operating costs. Site operating costs, net of
by-product credits per pound are calculated by dividing the
aggregate of the applicable costs by copper pounds produced. Total
operating costs per pound is the sum of site operating costs, net
of by-product credits and off-property costs divided by the copper
pounds produced. By-product credits are calculated based on actual
sales of molybdenum (net of treatment costs) and silver during the
period divided by the total pounds of copper produced during the
period. These measures are calculated on a consistent basis for the
periods presented.
|
Three months ended
March 31,
|
(Cdn$ in thousands,
unless otherwise indicated) – 75% basis
|
2018
|
2017
|
Cost of
sales
|
65,415
|
60,539
|
Less:
|
|
|
|
Depletion and
amortization
|
(14,780)
|
(9,577)
|
|
Insurance
recoverable
|
4,000
|
-
|
|
Net change in
inventories of finished goods
|
967
|
233
|
|
Net change in
inventories of ore stockpiles
|
(3,896)
|
1,172
|
|
Transportation
costs
|
(2,829)
|
(5,217)
|
Site operating
costs
|
48,877
|
47,150
|
Less by-product
credits:
|
|
|
|
Molybdenum, net of
treatment costs
|
(5,009)
|
(5,807)
|
|
Silver, excluding
amortization of deferred revenue
|
(92)
|
(449)
|
Site operating costs,
net of by-product credits
|
43,776
|
40,894
|
Total copper produced
(thousand pounds)
|
17,145
|
30,943
|
Total costs per pound
produced
|
2.55
|
1.32
|
Average exchange rate
for the period (CAD/USD)
|
1.26
|
1.32
|
Site operating
costs, net of by-product credits (US$ per pound)
|
2.02
|
1.00
|
Site operating costs,
net of by-product credits
|
43,776
|
40,894
|
Add off-property
costs:
|
|
|
|
Treatment and
refining costs of copper concentrate
|
3,954
|
8,456
|
|
Transportation
costs
|
2,829
|
5,217
|
Total operating
costs
|
50,559
|
54,567
|
Total operating
costs (C1) (US$ per pound)
|
2.33
|
1.33
|
Adjusted net income (loss)
Adjusted net income (loss) remove the effect of the following
transactions from net income as reported under IFRS:
- Unrealized foreign currency gains/losses;
- Unrealized gain/loss on copper put options; and
- Gain/loss on copper call option.
Management believes these transactions do not reflect the
underlying operating performance of our core mining business and
are not necessarily indicative of future operating results.
Furthermore, unrealized gains/losses on derivative instruments,
changes in the fair value of financial instruments, and unrealized
foreign currency gains/losses are not necessarily reflective of the
underlying operating results for the reporting periods
presented.
|
|
|
|
|
Three months ended
March 31,
|
($ in thousands,
except per share amounts)
|
|
2018
|
2017
|
Net income
(loss)
|
|
(18,481)
|
16,479
|
|
Unrealized foreign
exchange (gain) loss
|
|
8,332
|
(2,677)
|
|
Unrealized (gain)
loss on copper put options
|
|
(1,165)
|
52
|
|
Loss on copper call
option
|
|
-
|
1,414
|
|
Estimated tax effect
of adjustments
|
|
315
|
(14)
|
Adjusted net
income (loss)
|
|
(10,999)
|
15,254
|
Adjusted
EPS
|
|
(0.05)
|
0.07
|
EBITDA and adjusted EBITDA
EBITDA represents net income before interest, income taxes, and
depreciation. EBITDA is presented because it is an important
supplemental measure of our performance and is frequently used by
securities analysts, investors and other interested parties in the
evaluation of companies in the industry, many of which present
EBITDA when reporting their results. Issuers of "high yield"
securities also present EBITDA because investors, analysts and
rating agencies consider it useful in measuring the ability of
those issuers to meet debt service obligations. The Company
believes EBITDA is an appropriate supplemental measure of debt
service capacity, because cash expenditures on interest are, by
definition, available to pay interest, and tax expense is inversely
correlated to interest expense because tax expense goes down as
deductible interest expense goes up; depreciation is a non-cash
charge.
Adjusted EBITDA is presented as a further supplemental measure
of the Company's performance and ability to service debt. Adjusted
EBITDA is prepared by adjusting EBITDA to eliminate the impact of a
number of items that are not considered indicative of ongoing
operating performance.
Adjusted EBITDA is calculated by adding to EBITDA certain items
of expense and deducting from EBITDA certain items of income that
are not likely to recur or are not indicative of the Company's
future operating performance consisting of:
- Unrealized foreign exchange gains/losses;
- Unrealized gain/loss on copper put options; and
- Gain/loss on copper call option.
While some of the adjustments are recurring, other non-recurring
expenses do not reflect the underlying performance of the Company's
core mining business and are not necessarily indicative of future
results. Furthermore, unrealized gains/losses on derivative
instruments, and unrealized foreign currency translation
gains/losses are not necessarily reflective of the underlying
operating results for the reporting periods presented.
|
|
|
Three months ended
March 31,
|
($ in
thousands)
|
2018
|
2017
|
Net income
(loss)
|
(18,481)
|
16,479
|
Add:
|
|
|
|
Depletion and
amortization
|
14,780
|
9,577
|
|
Amortization of
share-based compensation expense (recovery)
|
(839)
|
3,359
|
|
Finance
expense
|
9,311
|
8,034
|
|
Finance
income
|
(323)
|
(331)
|
|
Income tax expense
(recovery)
|
(4,078)
|
12,027
|
EBITDA
|
370
|
49,145
|
Adjustments:
|
|
|
|
Unrealized foreign
exchange (gain) loss
|
8,332
|
(2,677)
|
|
Unrealized (gain)
loss on copper put options
|
(1,165)
|
52
|
|
Loss on copper call
option
|
-
|
1,414
|
Adjusted
EBITDA
|
7,537
|
47,934
|
Earnings from mining operations before depletion and
amortization
Earnings from mining operations before depletion and
amortization is earnings from mining operations with depletion and
amortization added back. The Company discloses this measure, which
has been derived from our financial statements and applied on a
consistent basis, to provide assistance in understanding the
results of the Company's operations and financial position and it
is meant to provide further information about the financial results
to investors.
|
Three months ended
March 31,
|
(Cdn$ in
thousands)
|
2018
|
2017
|
Earnings (loss)
from mining operations
|
(1,236)
|
43,850
|
Add:
|
|
|
|
Depletion and
amortization
|
14,780
|
9,577
|
Earnings from
mining operations before depletion and amortization
|
13,544
|
53,427
|
Site operating costs per ton milled
|
Three months ended
March 31,
|
(Cdn$ in thousands,
except per ton milled amounts)
|
2018
|
2017
|
Site operating
costs (included in cost of sales)
|
48,877
|
47,150
|
|
|
|
Tons milled
(thousands) (75% basis)
|
5,633
|
5,489
|
Site operating
costs per ton milled
|
$8.68
|
$8.59
|
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This document contains "forward-looking statements" that were
based on Taseko's expectations, estimates and projections as of the
dates as of which those statements were made. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "outlook", "anticipate",
"project", "target", "believe", "estimate", "expect", "intend",
"should" and similar expressions.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause the Company's
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking statements. These included but are not limited
to:
- uncertainties and costs related to the Company's exploration
and development activities, such as those associated with
continuity of mineralization or determining whether mineral
resources or reserves exist on a property;
- uncertainties related to the accuracy of our estimates of
mineral reserves, mineral resources, production rates and timing of
production, future production and future cash and total costs of
production and milling;
- uncertainties related to feasibility studies that provide
estimates of expected or anticipated costs, expenditures and
economic returns from a mining project;
- uncertainties related to our ability to complete the mill
upgrade on time estimated and at the scheduled cost;
- uncertainties related to the ability to obtain necessary
licenses permits for development projects and project delays due to
third party opposition;
- uncertainties related to unexpected judicial or regulatory
proceedings;
- changes in, and the effects of, the laws, regulations and
government policies affecting our exploration and development
activities and mining operations, particularly laws, regulations
and policies;
- changes in general economic conditions, the financial markets
and in the demand and market price for copper, gold and other
minerals and commodities, such as diesel fuel, steel, concrete,
electricity and other forms of energy, mining equipment, and
fluctuations in exchange rates, particularly with respect to the
value of the U.S. dollar and Canadian dollar, and the continued
availability of capital and financing;
- the effects of forward selling instruments to protect against
fluctuations in copper prices and exchange rate movements and the
risks of counterparty defaults, and mark to market risk;
- the risk of inadequate insurance or inability to obtain
insurance to cover mining risks;
- the risk of loss of key employees; the risk of changes in
accounting policies and methods we use to report our financial
condition, including uncertainties associated with critical
accounting assumptions and estimates;
- environmental issues and liabilities associated with mining
including processing and stock piling ore; and
- labour strikes, work stoppages, or other interruptions to, or
difficulties in, the employment of labour in markets in which we
operate mines, or environmental hazards, industrial accidents or
other events or occurrences, including third party interference
that interrupt the production of minerals in our mines.
For further information on Taseko, investors should review the
Company's annual Form 40-F filing with the United States Securities
and Exchange Commission www.sec.gov and home jurisdiction filings
that are available at www.sedar.com.
Cautionary Statement on Forward-Looking Information
This discussion includes certain statements that may be deemed
"forward-looking statements". All statements in this
discussion, other than statements of historical facts, that address
future production, reserve potential, exploration drilling,
exploitation activities, and events or developments that the
Company expects are forward-looking statements. Although we
believe the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual
results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
successes, continued availability of capital and financing and
general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking
statements. All of the forward-looking statements made in
this MD&A are qualified by these cautionary statements.
We disclaim any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except to the extent required by
applicable law. Further information concerning risks and
uncertainties associated with these forward-looking statements and
our business may be found in our most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities.
Note: For up-to-date
Florence Copper site photos and construction updates, please visit
Taseko's website at tasekomines.com.
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*Non-GAAP performance
measure. See end of news release.
**Based on the Florence Copper Project NI 43-101 technical report
dated February 28, 2017 (amended and restated December 4, 2017)
filed on SEDAR.
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content:http://www.prnewswire.com/news-releases/taseko-reports-first-quarter-2018-financial-results-300641553.html
SOURCE Taseko Mines Limited