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Taseko Mines Limited (TGB) CEO Russ Hallbauer on Q1 2021 Results - Earnings Call Transcript

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Taseko Mines Limited (NYSE:TGB) Q1 2021 Results Conference Call May 6, 2021 11:00 AM ET

Company Participants

Brian Bergot - VP, Investor Relations

Bryce Hamming - Chief Financial Officer

Richard Tremblay - VP, Operations

Russ Hallbauer - Chief Executive Officer

Stuart McDonald - President

Conference Call Participants

Ed Brucker - Barclays

Craig Hutchison - TD Securities


Good morning. My name is Andis, and I will be your conference operator today. At this time, I would like to welcome everyone to the Taseko Mines first quarter earnings and production results conference call. [Operator Instructions] Thank you.

Mr. Brian Bergot, you may begin your conference.

Brian Bergot

Thank you, Andis. Welcome, everyone, and thank you for joining Taseko's First Quarter 2021 Conference Call. The news release announcing our financial and operational results was issued yesterday after market close and is available on our website at tasekomines.com.

On the call with me today is Taseko's CEO, Russ Hallbauer; our President, Stuart McDonald; John McManus, our COO; Taseko's Chief Financial Officer, Bryce Hamming; and also Richard Tremblay, VP of Operations.

As usual, before we get into opening remarks by management, I would like to remind our listeners that our comments and answers to your questions will contain forward-looking information. This information, by its nature, is subject to risks and uncertainties that may cause the stated outcome to differ materially from the actual outcome. For further information on these risks and uncertainties, I encourage you to read the cautionary note that accompanies our first quarter MD&A and the related news release as well as the risk factors particular to our company. I would also like to point out that we will use various non-GAAP measures during the call. You can find explanations and reconciliations regarding these measures in the related news release.

After opening

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Comments (6)

Wouldn’t you love to see one of the majors buy out TGB and get rid of the overpaid, semi-competent management? Good assets in safe jurisdictions.
Mr.Sir profile picture
@wolfetd it may happen, but I don't see the management agreeing to any deal, it would have to be an aggressive take over... which is quite expensive.
@Mr.Sir Agreed, especially if the South American situation comes to fruition, Stevie Wonder could see this perfect storm playing out.

It is one of the other reasons I started building to have a free sack in this, knew the copper run of historic proportions was coming, knew they would get the refinancing at a better cost (when one has an ability to pay back, one can always get a better deal same as a house) and with what was facing the new administration (wanting to build out this EV deal the infrastructure alone would make copper keeping up with need insurmountable making their ultra green Florence a sure thing IMHO to get permitted, they cannot turn them all down, the NEED it and if not Florence then what mine could pass?

But, SA was the kicker and TGB is 100% Tier one and nowhere near South America Chile is on a road to be the next Venezuela I see albeit remote possibility of govt takeover of mining like they did with oil in Venezuela. leftists are great on their dreams.ideas low on common sense that it can actually work as human nature/corruption takes over.

IMHO every miner in Chile which includes most if not all majors will take a hit even if just paying more in taxes/bribes to these govts, as if the election in Peru goes the leftist way, he already said he is 100% of a mind to follow Chiles lead. Watch copper price then..................................being a company with South American exposure "could" become a major factor for companies in profits and exploration and indeed and remote chance of losing those assets all together.

And a poster above said management was terrible, overpaid etc, I think they have done a as good a job as any in getting to this point and looking at the very distinct possibility of going it alone in Florence and then raining money which will give them the ability to move full steam ahead with their other projects. Just my opinions we will all just have to see how it all plays out, watch Chile and watch Peru June 10th. DD is much more than reading filings and numbers at times, there are times that other things are far more important.

Mr.Sir profile picture
@Thomas Coutts My reasoning was not that deep but i followed almost the same thinking, probably not as versed as you on South America, but when I googled how much copper was needed for EV's it quickly became a no brainer. Also I don't see why TGB gets so much hate, with what they have, they have done a great job. I understand that investors want to make money quickly but being conservative is a great way not to blow up your operation. When Florence is done this ball will really be rolling.
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