Copper Mountain Mining Corporation (TSX: CMMC) (the “Company” or “Copper Mountain”) announces third quarter revenues of $77.1 million after pricing adjustments and treatment charges from the sale of 22.6 million pounds of copper equivalent, including 19.3 million pounds of copper, 6,500 ounces of gold, and 72,700 ounces of silver. Total cash cost for the quarter ended September 30, 2017 was US$1.62 per pound of copper sold, net of precious metals credits.
As quoted in the press release:
Jim O’Rourke, President and CEO of Copper Mountain, remarked “During the third quarter of 2017, Copper Mountain continued to mine at rates well above our guidance levels. Mill throughput averaged 41,158 tpd, 8.4% above forecast and in line to meet our 2017 guidance. The coarser grind from the higher tonnage continues to result in a slightly lower recovery, but copper production remains on target”. Mr. O’Rourke continued, “We remain bullish on the outlook for the copper market and with our production on target we are well positioned to benefit from a strong copper price environment. During the first three quarters of 2017 the Company has paid down a total of $43.8 million in principle and interest on project debt and leases. We continue to focus on cost control and operational improvements to further strengthen the Company’s balance sheet.”