Copper Mountain Mining Announces Q3 2018 Financial Results

Copper Mountain Mining (TSX:CMMC,ASX:C6C) has announced its third quarter 2018 financial results, revealing quarterly revenue of C$60.7 million.

As highlighted in the press release:

• Production at the Copper Mountain Mine was 22.0 million pounds of copper equivalent in the third quarter of 2018, which includes 18.3 million pounds of copper, 7,500 ounces of gold and 64,900 ounces of silver and in line with expectations.
• Company on track to achieve 2018 annual production guidance of 80 million pounds of copper (+/-5 percent) with the expectation of a strong fourth quarter.
• Revenue for the third quarter 2018 was C$60.7 million, from the sale of 17.6 million pounds of copper, 6,300 ounces of gold, and 62,500 ounces of silver, net of pricing adjustments.
• Increased mineral reserves at the Copper Mountain Mine to 210 million tonnes grading 0.26 percent copper, 0.08 grams per tonne gold, and 0.89 grams per tonne silver for 1.2 billion pounds of copper, 504,000 ounces of gold and 6.0 million ounces of silver.
• Positive feasibility study results for the Eva Copper project demonstrated an after-NPV of US$256 million at an 8 percent discount rate and total copper production of 959 million pounds over a 12-year mine life.
• Robust preliminary economic assessment results for New Ingerbelle demonstrated an after-tax net present value of US$394 million at an 8 percent discount rate and total copper production of 768 million pounds over a 12-year mine life.

Click here to read the full Copper Mountain Mining (TSX:CMMC,ASX:C6C) press release.