Copper Mountain Mine Has Solid Performance

 

VANCOUVER - Copper Mountain Mining Corporation reported first quarter revenues of $58.7 million after pricing adjustments and treatment charges from the sale of 22.3 million pounds of copper equivalent (including 18.1 million pounds of copper, 6,900 ounces of gold, and 61,200 ounces of silver).  Total cash cost for the quarter ended March 31, 2016 was US$1.61 per pound of copper sold, net of precious metals credits.

Copper, gold and silver production for the first quarter of 2016 at Copper Mountain Mine was 23.8 million pounds of copper equivalent which includes 19.0 million pounds of copper, 7,600 ounces of gold and 64,700 ounces of silver.

Jim O'Rourke , President and CEO of Copper Mountain, remarked "During the first quarter of 2016, Copper Mountain continued to demonstrate solid performance within a challenging commodities price environment by focusing on cost containment and production efficiencies.  Total cash costs for the quarter decreased by 9% to US$1.61 per pound of copper sold net of precious metal credits and after all off-site charges, over Q1 2015 total cash costs.  Mine production was strong during the quarter with approximately 192,000 tonnes mined per day, well above our 2016 guidance of 174,000 tpd.  Mill throughput for the quarter averaged 37,100 tpd, a 9% quarter-over-quarter increase, further demonstrating Copper Mountain's ability to operate above design capacity of 35,000 tpd on a sustained basis".