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Taseko Mines swings to .9M third-quarter loss as revenues fall, capex triples

Taseko Mines swings to $3.9M third-quarter loss as revenues fall, capex triples

VANCOUVER – Taseko Mines Ltd. (TSX: TKO) reports it swung to a $3.9 million, or two cents per share, loss in the third quarter compared to a profit of $30 million, or 15 cents per share in the same quarter of 2011. Revenues fell 28 per cent to $61 million from $84 million in the year-earlier. Capital expenditures more than tripled to $56.9 million from $16.3 million in the 2011 quarter as the company ramps up its New Prosperity and Aley projects.

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