Copper Mountain Annouces Production Results for Q3-2017
(firmenpresse) - Copper Mountain Annouces Production Results for Q3-2017
Vancouver, British Columbia - October 11, 2017 - Copper Mountain Mining Corporation (TSX: CMMC) (the Company or Copper Mountain) announces production results for the third quarter of 2017, from the Copper Mountain Mine located in southern British Columbia.
Third Quarter 2017 Production Highlights:
- Annual production on track: Produced 20.9 million pounds of copper, 6,700 ounces of gold, and 79,270 ounces of silver during the third quarter, bringing production totals to 56.2 million pounds of copper, 18,400 ounces of gold, and 207,000 ounces of silver for the first three quarters of 2017, which meets guidance for the year.
- Precious metals contribution significant: Gold and silver production continues to provide a favourable contribution to the operation and accounts for plus 15% of gross revenue.
- Mill throughput: The average milling rate of 41,158 tpd for the quarter set a new record. Total tonnes milled during the period was 3.8 million with an operating time of 93.5%. Copper recovery for the period was 77.3% which reflects the coarser grind at the higher tonnage rates. The average head grade for the quarter was 0.324% copper, bringing the year to date average to 0.315% copper which is 4.5% above guidance.
- Mining production strong: Open pit mining averaged 189,500 tonnes of material per day during the third quarter, bringing the year to date average 9% ahead of guidance at 196,300 tonnes of material per day mined.
Mining activities continued from the Pit 2, Saddle and Pit 3 Stage 3 area, as well as the Oriole pit during the quarter. A total of 17.4 million tonnes of material was mined, including 6.8 million tonnes of ore and 10.6 million tonnes of waste, resulting in a strip ratio of 1.55 to 1. High mechanical availability on mobile equipment was maintained during the quarter and the optimized waste haul management helped contribute to the above average mining rates being achieved.
Mr. Jim ORourke, President and Chief Executive Officer of Copper Mountain Mining, said We are very pleased that the favourable third quarter production results continue to demonstrate the mines stable performance. We are bullish on the near term copper cycle and this coupled with the mines performance demonstrates the company is well positioned to build cash on the balance sheet
About Copper Mountain Mining Corporation:
Copper Mountains flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential is being explored over the next few years in order to fully appreciate the propertys full development potential. Additional information is available on the Companys web page at www.CuMtn.com.
A conference call and audio webcast will be held on Monday, November 6, 2017 at 7:30 am (Pacific Daylight Time) for management to discuss the third quarter 2017 results. This discussion will be followed by a question-and-answer period with investors.
Live Dial-in information
Toronto and international: 647-427-7450
North America (toll-free): 1-888-231-8191
To participate in the webcast live via your computer go to:
http://event.on24.com/r.htm?e=1523105&s=1&k=A43E370074B0D9D8449DB898A9ECA6F5
Replay call information
Toronto and international: 416.849.0833, passcode 96857152
North America (toll-free): 1.855.859.2056, passcode 96857152
The conference call replay will be available from 10:30 am (PDT) on November 6, 2017, until 11:59 pm PST on November 13, 2017.
Participant audio webcast will also be available on the Companys website at http://www.CuMtn.com
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
Jim ORourke
Jim ORourke, P.Eng.
Chief Executive Officer
For further information, please contact:
Dan Gibbons, Investor Relations 604-682-2992 ext. 238 Email: dan(at)cumtn.com
Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email: Rod(at)CuMtn.com
Website: www.CuMtn.com
Copper Mountain Mining Corporation
Suite 1700, 700 West Pender Street
Vancouver, BC V6C 1G8
Telephone: (604) 682-2992
Facsimile: (604) 682-2993
Web Site: www.CuMtn.com
TSX: CMMC
Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts expectations or estimates or to release publicly any revisions to any forward-looking statement.
Leseranfragen:
Datum: 11.10.2017 - 19:26 Uhr
Sprache: Deutsch
News-ID 563335
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Town:
Wien
Kategorie:
Business News
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