Imperial Reports Third Quarter Results

Imperial Metals (TSX:III) has reported that its Red Chris and Mount Polley mines produced 16.14 million pounds copper and 16,488 ounces gold in the third quarter of 2018.

As quoted in the press release:

Red Chris metal production was 13.55 million pounds copper and 8,741 ounces gold, a decrease of 31 percent and an increase of 4 percent respectively, from 19.66 million pounds copper and 8,426 ounces gold produced in the comparable 2017 quarter. Mill throughput averaged 30,544 tonnes per calendar day during the third quarter ended September 30, 2018. Metal recoveries were 74.92 percent copper and 45.65 percent gold, compared to 78.94 percent copper and 43.09 percent gold in the third quarter of September 2017. Gold recoveries and grades continue to exceed budget, while copper recoveries continued to be lower than planned. As mining activities progress deeper into phase 4 of the main zone pit, the copper recovery is increasing. The October month to date copper recovery was 78.1 percent, an increase from the average copper recovery of 74.92 percent achieved in the 2018 third quarter.

Mount Polley metal production during the September 2018 quarter was 2.60 million pounds copper and 7,748 ounces gold, a decrease of 34 percent and 22 percent respectively from the 3.98 million pounds copper and 9,989 ounces gold produced in the third quarter ended September 30, 2017. Mill throughput averaged 15,145 tonnes per calendar day. Metal recoveries were 38.39 percent copper and 65.06 percent gold, compared to 61.44 percent copper and 67.22 percent gold in the comparable 2017 quarter.

Click here to read the full Imperial Metals (TSX:III) press release.