Web Site: www.CuMtn.com
TSX: CUM
VANCOUVER, April 9, 2014 /PRNewswire/ - Copper
Mountain Mining Corporation (TSX: CUM) (the "Company" or
"Copper Mountain") announces production results for the first
quarter of 2014 from the Copper Mountain mine located in southern
British Columbia.
In the first three months of 2014 the mine shipped 39,000 wmt of
concentrate, an increase of 9% over the prior quarter. The
shipments contained approximately 19.7 million pounds of copper,
6,500 ounces of gold, and 98,600 ounces of silver generating an
estimated $69.6 million in gross
revenue.
Copper production for the first quarter of 2014 totaled 19.1
million pounds of copper, a 34% increase as compared to the first
quarter of 2013, setting a new production record for the
mine. The concentrate also included 5,400 ounces of gold and
105,300 ounces of silver. During the quarter the mill
processed a total of 2.6 million tonnes of ore at an average grade
of 0.394 % Copper.
SAG Mill throughput was improved during the quarter as a result
of adding the third portable crusher late last year. Copper
production during the quarter was in line with guidance, despite
some unscheduled down time in March resulting from a ball mill
transformer failure. Mill crews completed repairs in a timely
manner. During the quarter the mill averaged 91%
availability.
Mining activities continued to shift more towards Pit 3 during
the quarter and mining in the Pit 2 area shifted more towards the
southwest end of the Pit. During the quarter a total of 13.6
million tonnes of material was mined, including 4.1 million tonnes
of ore and 9.5 million tonnes of waste. The projected life of mine
strip ratio is 2 to 1 but higher in the early years. The mine
moved an average of approximately 160,000 tonnes of material per
day.
Conference Call Details:
The Company will release its
first quarter 2014 financial and operational results before market
hours on Friday May 2nd, 2014.
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://www.newswire.ca/en/webcast/detail/1332255/1472383
Replay call information
Toronto and
international: 416-764-8677, passcode 559428
North America (toll-free):
888-390-0541, passcode 559428
The conference call replay will be available from 10:30 am
(PST) on May 2nd , 2014,
until 11:59 pm PST on May 8th, 2014
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 75% owned Copper Mountain mine
located in southern British
Columbia near the town of Princeton. The Company has a strategic
alliance with Mitsubishi Materials Corporation who own the
remaining 25%. The Copper Mountain mine commenced production in the
summer of 2011, and has continued to improve its operations during
the year; and attained design capacity in the summer of 2012. The
18,000 acre site has a resource of approximately 5 billion pounds
of copper and 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 page 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
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