Copper Mountain mine achieved record first quarter copper production
Web Site: www.CuMtn.com TSX: CUM
VANCOUVER, April 9, 2014 /CNW/ - 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
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.
Conference Call Details: The Company will release its first quarter 2014
financial and operational results before market hours on Friday May 2nd, 2014.
A conference call and audio webcast will follow that same morning at 7:30 am
(Pacific Standard Time) for management to discuss the results. This
discussion will be followed by a question-and-answer period with investors.
Live Dial-in information Toronto and international: 416-764-8688 North America
(toll-free): 888-390-0546 To participate in the webcast live via your
computer go to: http://www.newswire.ca/en/webcast/detail/1332255/1472383
Replay call information Toronto and international: 416-764-8677, passcode
559428 North America (toll-free): 888-390-0541, passcode 559428 The
conference call replay will be available from 10:30 am (PST) on May 2(nd) ,
2014, until 11:59 pm PST on May 8(th), 2014 Participant audio webcast will
also be available on the company's website http://www.cumtn.com
About Copper Mountain Mining Corporation: Copper Mountain's flagship asset is
the 75% owned Copper Mountain mine located in southern British Columbia near
the town of Princeton. The Company has a strategic alliance with Mitsubishi
Materials Corporation who own the remaining 25%. The Copper Mountain mine
commenced production in the summer of 2011, and has continued to improve its
operations during the year; and attained design capacity in the summer of
2012. The 18,000 acre site has a resource of approximately 5 billion pounds of
copper and remains open laterally and at depth. The mine has significant
exploration potential that will need to be explored over the next few years to
fully appreciate the properties full development potential. Additional
information is available on the Company's web page at www.CuMtn.com.
On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION
Jim O'Rourke, P.Eng. Chief Executive Officer
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.
SOURCE Copper Mountain Mining Corporation
Galina Meleger, Corporate Communications, 604-682-2992 ext.224, Email: Galina
@CuMtn.com; or Rod Shier, Chief Financial Officer, 604-682-2992 ext.222,
Email: Rod@CuMtn.com; Website: www.CuMtn.com
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CO: Copper Mountain Mining Corporation
ST: British Columbia
NI: MNG CONF
-0- Apr/09/2014 12:00 GMT
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