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.