Copper Mountain announces third quarter 2013 results
Web Site: www.CuMtn.com
TSX: CUM
VANCOUVER, Oct. 30, 2013 – Copper Mountain Mining Corporation (TSX: CUM) (the “Company” or “Copper Mountain”) announces revenues of $67.6 million after pricing adjustments and treatment charges for the three months ended September 30, 2013.
Third Quarter 2013 Highlights (100% Basis)
- Total production for the 2013 third quarter at Copper Mountain Mine (100%) was 17.7 million pounds of copper, 6,400 ounces of gold and 79,300 ounces of silver.
- Revenues of $67.6 million for the quarter after pricing adjustments and treatment charges.
- Copper concentrate shipments contained approximately 16.6 million pounds of copper, 6,300 ounces of gold, and 77,100 ounces of silver during the quarter.
- Mining activities continued at a steady rate of 154,300 tonnes per day mined during the third quarter of 2013.
- Milling activities continued to improve – Average throughput rate was 29,130 tonnes per day (tpd) in the third quarter of 2013, as compared to 26,000 tpd for the first half of the year.
- Copper Recoveries were 87.2% in the third quarter as compared to 85.0 % for the first half of the year.
- EBITDA1 and Adjusted EBITDA2 were $29.5 million and $14.8 million for the quarter respectively.
- Net income attributable to the shareholders of the Company were $11.2 million or $0.11 per share
- Site cash costs were US$1.68 per pound of copper produced net of precious metal credits.
- Total costs were US$2.22 per pound of copper sold net of precious metal credits and after all off site charges.
- Average realized copper price for the period US $3.22 per pound.
Read more: http://www.cumtn.com/all_news/CMMC_Q3_2013_results.pdf
