Copper Mountain Mining Corporation News - CMMC

So there pitch back in 2010 was to get the job done! so far they look on track!

QUESTION!

What do you get when you add

bread bun
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A HAMBERGER!!!!!!!

WHAT do you get when you add

Cooper mountain
Trilliant mining
Mammoth Energy
Cooper Island

ONE big mother Fx#k&* world wide mining comclomirate

Copper Mountain Mining Corp's CFO, Rodney A. Shier

We've always enjoyed compelling stories where junior mining companies find innovative ways to explore and discover new mining opportunities, and you'll find many of those stories on this site. But after talking to one mining company recently, we realized that there's another compelling story that investors like hearing about: The junior mining company that taking a new approach on a previously successful mining operation.

That's the story at Copper Mountain Mining Corporation (TSX-V: CUM), located near Princeton BC. They have 18,000 acres that have a rich history of mining. According to their website, initial mining of the Copper Mountain area dates as far back as 1884, with production starting in 1923. Three pits were built as the mine changed hands over the decades and it finally shut down in 1996 after having produced 1.7 million pounds of copper.

Recently, we spoke to the Copper Mountain Mining Corp's CFO, Rodney A. Shier, who told us about their project and how they plan on walking in the footsteps of this successful past producer to turn it into a significant copper producer in the future.

Mr. Shier introduced the project to us: "The Copper Mountain project – our only project – is a past producer of about 1.7 million pounds of copper and we're bringing it back into production."

Before they can bring this previous producer into production again, they have to do some major construction to add new facilities to the site. The infrastructure is there, Mr. Shier said. "It's a past producing mine: so we're hooked into the grid and we have a paved road right to the mine gate." Roads will allow them to truck the copper into Vancouver for shipment abroad.

"We're currently in construction," said Mr. Shier. He listed the many construction projects currently underway onsite: "We're building a new concentrator. We're building a new truck shop. We're building a new primary crusher. In April of this year we started erecting the steel on the concentrator. That went really well and now interior work is ongoing and that will continue until April of next year. Our primary crusher is progressing very well, also. In August of this year we just finished the concrete on it. And the truck maintenance shop is going well: It's fully cladded and interior work is ongoing."

Along with construction, equipment is being delivered and assembled onsite, too. "We've ordered our mining equipment fleet and half of it has been delivered," described Mr. Shier. "We have two big hydraulic shovels, 13 240-ton haul trucks, a couple of bulldozers, as well as support drill equipment. We also have a WA1200 loader – it's an awesome machine, it's the world's largest mechanical loader – onsite to help load the 240 ton trucks."

Construction is just the preliminary step and they're working on getting everything ready for a May 2011 start-up date. "We're in construction right now and once in production, Copper Mountain will be Canada's third largest copper mine," Mr. Shier said. "In May we'll start putting ore through the mill and in June we'll be at full production. We're building a 35,000 ton-per-day mill. We're going to be producing about 105 million pounds of copper per year."

The plan, he explained, is to take the three existing pits and combine them together. "Basically we're combining 3 pits into one much larger 'super pit'," he said.

Next, we asked him about the resource itself and what they were expecting to find, since this past producer already has a history of 1.7 million pounds of copper. Mr. Shier gave some exciting numbers: "The mine has a large resource right now. We have a 5 billion pound resource. In the fall of 2007, we completed a Titan 24 Deep Earth Imaging Geophysical survey that found a number of anomalies that needed to be followed up on. We started to follow up on some of those with drilling and we've been very successful to date. This operation has a 17 year mine life that we know of right now."

Exploration is ongoing but they already have a "jumpstart" with the pre-existing pits and historical drill data. "Right now, our super pit goes down to about the 250 meter level. We have anomalies going well below 750 meters." This depth of resource isn't without precedent, either, as Mr. Shier explained: "That's the same depth as Teck's Highland Valley Mine, which is an hour and a half to the north of us. There is a lot of exploration potential if we can prove up that mineralization below our existing super pit."

This is exciting news for the company but investors want to know how they can benefit. We asked Mr. Shier to tell us about his company from an investment perspective. As a CFO, he had access to compelling numbers that savvy investors will want to pay attention to. He said: "There's a number of different ways to look at valuation: A shareholder who buys our stock is getting a little under a pound of copper per share, compared to our [what they would get with our] competitors, who are more in the .3-pound-of-copper range. So you're getting 2-3 times more copper per share."

Then he gave us another way to look at the investment: "If you look at it from a Net Present Value point of view, the project has a Net Present Value of over a billion dollars, at $3 copper. As you know, we're above $3.5 copper today, and with only 90 million shares outstanding, that's over a $10 per share value"

So, why might investors find Copper Mountain Mining Corp an attractive investment? Mr. Shier had several reasons. First, he said: "It's a low risk project across the board. We've minimized the risk. Also, our biggest challenges are all behind us."

Then, he said: "We're fully financed, we're unhedged, and we have a very strong partner." Their partner is Mitsubishi, a 25% partner and a recipient of the copper once it's mined.

And one of the most important reasons, he highlighted, "investors want to own this stock because we have a very experienced management team who have done this before."

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