Taseko Mines Ltd T.TKO

Cash Position

[Bakocop]

Taseko had $73MM at end of Q3 and now have $85MM at end of 2020.  Copper price was significantly higher in Q4.  There was an interest payment and some capex for transition to pollyana.  But with the bought deal of $20MM+ and presumably some cash from ops, where did the money go?

[WyleeCoyote]

Had the same question.  They raised around $26MM.  So Q3 cash of $73MM + $26MM = $99MM.  So $14MM went to unscrew some problem.  Worst case toward expenses, best case toward a bond or letter of credit.

[Bakocop]

and I think 73MM is CND and 26MM is US. Is that right?

[WyleeCoyote]

I believe that's correct.  Which makes it worse.

[Rational43]

Copper in the ground doesn't lead to cash in the bank.   Unless there was a debt paydown, it looks like TKO had negative cash flow from operations in Q4, and needed to sell shares to fund a miss in production.   Don't be like many Shale oil investors in the US, get beyond the Investor Presentation stories and look at Earnings and Cash Flow. That's not just for