04:59 PM EDT, 10/15/2025 (MT Newswires) -- (Updates with details of its bought-deal share financing in the first four paragraphs.)

Taseko Mines ( TGB ) was at last look down 5.1% in after-hours New York trading as it agreed to sell a underwriting syndicate 37.1-million shares at a price of US$4.05 each to raise US$150 million.

A statement noted the company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15% of the offering to cover over-allotments, if any.

Taseko said it intends to use the net proceeds of the offering to repay outstanding indebtedness under the company's revolving credit facility and for general corporate and working capital purposes.

This come after Taseko said before trade Wednesday it has received the final approvals for the Florence Copper Mine in Arizona. The company also announced third-quarter production from Gibraltar Mine.

Taseko is beginning wellfield operations at Florence, and launching the commercial production facility. First copper cathode is expected to be produced in about three months, a statement said.

Third quarter production at the Gibraltar Mine in British Columbia was 27.6 million pounds of copper, including 900,000 pounds of copper cathode, and 560,000 pounds of molybdenum, an increase of 39% and 211%, respectively, over the previous quarter.

Taskeo sold a total of 26.3 million pounds of copper in the quarter. Mill throughput was at design capacity of 85,300 tons per day in the quarter and copper recoveries averaged 77% for the third quarter, and 83% for September. Copper head grades of 0.22% were behind plan, although still an improvement over the previous two quarters, the company said.

Gibraltar's annual production for 2025 is now expected to be 100 to 105 million pounds of copper, said chief executive Stuart McDonald. "With first copper cathode expected to be produced from Florence in about three months, and increasing production from our Gibraltar Mine, we're becoming a more diversified copper miner in top tier mining jurisdictions," McDonald added.

Taseko shares were last seen down US$0.22 to US$4.10 after hours. They closed down $0.09 to $6.07 on the Toronto Stock Exchange.