This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Copper Mountain Mine Achieved Record First Quarter Copper Production

Web Site: TSX: CUM

VANCOUVER, April 9, 2014 /PRNewswire/ -  Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces production results for the first quarter of 2014 from the Copper Mountain mine located in southern British Columbia.

In the first three months of 2014 the mine shipped 39,000 wmt of concentrate, an increase of 9% over the prior quarter.  The shipments contained approximately 19.7 million pounds of copper, 6,500 ounces of gold, and 98,600 ounces of silver generating an estimated $69.6 million in gross revenue.   

Copper production for the first quarter of 2014 totaled 19.1 million pounds of copper, a 34% increase as compared to the first quarter of 2013, setting a new production record for the mine.  The concentrate also included 5,400 ounces of gold and 105,300 ounces of silver.  During the quarter the mill processed a total of 2.6 million tonnes of ore at an average grade of 0.394 % Copper. 

SAG Mill throughput was improved during the quarter as a result of adding the third portable crusher late last year.  Copper production during the quarter was in line with guidance, despite some unscheduled down time in March resulting from a ball mill transformer failure.  Mill crews completed repairs in a timely manner.  During the quarter the mill averaged 91% availability.

Mining activities continued to shift more towards Pit 3 during the quarter and mining in the Pit 2 area shifted more towards the southwest end of the Pit.  During the quarter a total of 13.6 million tonnes of material was mined, including 4.1 million tonnes of ore and 9.5 million tonnes of waste. The projected life of mine strip ratio is 2 to 1 but higher in the early years.  The mine moved an average of approximately 160,000 tonnes of material per day.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs