Web Site: www.CuMtn.com
TSX: CUM
VANCOUVER, Oct. 6, 2015 /CNW/ - Copper Mountain
Mining Corporation (TSX: CUM) (the "Company" or "Copper
Mountain") announces that in the third quarter of 2015 the
mine produced 20.4 million pounds of copper. Concentrate shipped
during the quarter contained approximately 21.9 million pounds of
copper, plus gold and silver, generating an estimated US$60 million in gross revenue. In the
third quarter the mill achieved an average record throughput of
37,400 tpd, an increase of 22% over the comparative period of
2014. The ore grade averaged 0.35% copper for the
quarter.
Mining activities continued to focus on the southwest end of Pit
2 and the northwest end of Pit 3. Approximately 85% of the
ore mined during the quarter came from the Pit 2 area. During
the quarter, the Company received approval for various permit
amendments, including inclusion of the Virginia Pit in the mine
plan, which has a higher than average head grade. Site
personnel are advancing mining in the Virginia area for ore delivery in the fourth
quarter, and are implementing other flexible mine plan initiatives
to further reduce costs and maximize cash flow. During the
quarter a total of 14.7 million tonnes of material was mined,
including 5.4 million tonnes of ore and 9.3 million tonnes of
waste, resulting in a strip ratio of 1.73:1. The mine moved an
average of approximately 172,800 tonnes of material per day during
the quarter.
Jim O'Rourke, President and CEO
of Copper Mountain, commented "We are very pleased with
Copper Mountain Mine's ability to continue to set production
records. During the quarter, the mill averaged 37,400 tpd including
an all-time high average throughput rate of 39,100 tpd for the
month of July, as compared to 35,600 tpd achieved during the second
quarter of 2015. This record throughput has contributed to
strong third quarter production of 20.4 million pounds of
copper."
"Management are fully focused on operational improvements
and cost savings to ensure we are successful in addressing current
global conditions. Adaptive mine plans for 2016 are being optimized
to further strengthen our operating base and ensure our long-term
success."
Conference Call Details:
The Company will release its
third quarter 2015 financial and operational results before market
hours on Monday, November 9,
2015. A conference call and audio webcast will follow that
same morning at 7:30 am (Pacific Standard
Time) for management to discuss the results. This
discussion will be followed by a question-and-answer period with
investors.
Live Dial-in information
Toronto and
international:
|
416-764-8688
|
North America
(toll-free):
|
888-390-0546
|
To participate in the
webcast live via your computer go to:
http://event.on24.com/r.htm?e=1063363&s=1&k=C5D3C008E58CC5F87EE721C80003C639
|
Replay call information
Toronto and
international:
|
416-764-8677,
passcode 181686#
|
North America
(toll-free):
|
888-390-0541,
passcode 181686#
|
The conference call
replay will be available from 10:30 am (PST) on November 9,
2015, until 11:59 pm PST on November 23, 2015
|
Participant audio
webcast will also be available on the company's website
http://www.cumtn.com
|
About Copper Mountain Mining Corporation:
Copper
Mountain's flagship asset is the Copper Mountain mine located in
southern British Columbia near the
town of Princeton. The Company has
a strategic alliance with Mitsubishi Materials Corporation who owns
25% of the mine. The Copper Mountain mine commenced production in
the summer of 2011 and has continued to improve its operations
since start-up. The 18,000 acre site has a large resource of
copper that remains open laterally and at depth. The mine has
significant exploration potential that will need to be explored
over the next few years to fully appreciate the properties full
development potential. Additional information is available on
the Company's web site at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Jim
O'Rourke"
Jim O'Rourke, P.Eng.
Chief Executive Officer
Website: www.CuMtn.com
Note: This release contains forward-looking statements
that involve risks and uncertainties. These statements may
differ materially from actual future events or results.
Readers are referred to the documents, filed by the Company on
SEDAR at www.sedar.com, specifically the most recent reports which
identify important risk factors that could cause actual results to
differ from those contained in the forward-looking
statements. The Company undertakes no obligation to review or
confirm analysts' expectations or estimates or to release publicly
any revisions to any forward-looking statement.
SOURCE Copper Mountain Mining Corporation