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Copper Mountain Reports Revenue of $72.2 million in Q3 2016
Nov. 08, 2016 08:51AM PST
Base Metals Investing Copper Mountain Mining (TSX:CUM) reported Q3 revenues of $72.2 million after pricing adjustments and treatment charges from the sale of 29.5 million pounds of copper equivalent.
Copper Mountain Mining (TSX:CUM) reported Q3 revenues of $72.2 million after pricing adjustments and treatment charges from the sale of 29.5 million pounds of copper equivalent.
As quoted in the press release:
Highlights:
- Copper, gold and silver production for the third quarter of 2016 at Copper Mountain Mine was 22 million pounds of copper, 8,200 ounces of gold and 81,500 ounces of silver.
- Revenue for the period was $72.2 million, from the sale of 23.5 million pounds of copper, 8,600 ounces of gold, and 75,700 ounces of silver, net of pricing adjustments.
- Cash flow from operations for the quarter was $15.9 million.
- Cash balance at the quarter end was $25 million, an increase of $20 million from June 30, 2016
- Adjusted EBITDA was $16.6 million for the quarter.
- Site cash costs for the 2016 third quarter were US$0.97 per pound of copper produced net of precious metal credits.\
- Total cash costs for the quarter were US$1.45 per pound of copper sold net of precious metal credits and after all off-site charges.
- Realized prices on metal sales in the quarter were US$2.15 per pound of copper, US$1,337 per ounce of gold and US$19.54 per ounce of silver.
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