Copper Mountain Mining Improves Production for 6th Consecutive Quarter

Copper Mountain Mining Corporation (TSX:CUM) announced its results for the first quarter of 2014. Highlights included sales of 19.8 million pounds of copper, 6,500 ounces of gold and 98,600 ounces of silver to bring revenues of $61.2 million after pricing adjustments and treatment charges. The negative pricing adjustment amounted to a net of a $9.8 million for the three months ended March 31st, 2014.

As quoted in the press release:

The Copper Mountain Mine achieved record first quarter copper production. Total production for the three months ended March 31st, 2014 at Copper Mountain Mine was 19.1 million pounds of copper, 5,400 ounces of gold and 105,300 ounces of silver. This represents a 35% growth in copper production from the same period last year.

Copper Mountain CEO, Jim O’Rourke, said:

This quarter marks our 6th consecutive quarter of improved production. This continued improvement is a result of the mines focus on integrating the three temporary portable crushers into the circuit to pre-crush a portion of the SAG mill feed. These temporary solutions have been successful in increasing throughput and will remain in place until the permanent secondary crusher is installed this summer. The 2014 first quarter production results are in line with our annual production guidance of 80 -90 million pounds of copper, despite some unscheduled downtime in March. The operational highlights for this first quarter include better than expected grade, improved mill availability and steady progress in mill throughput. These combined factors contributed to record production during the quarter.

Click here to read the Copper Mountain Mining Corporation (TSX:CUM) press release