Post by
phoenix_trader on Apr 08, 2014 5:46pm
Duck Pond mill may be available early in 2015
From the Teck Annual Report: Duck Pond We own 100% of the Duck Pond underground copper-zinc mine located in central Newfoundland. Duck Pond’s gross profit before depreciation and amortization was $19 million in 2013, compared to $42 million in 2012 and $57 million in 2011. Gross profit declined in 2013, primarily due to lower copper prices. Copper production in 2013 was 14,000 tonnes, similar to 2012. Zinc production was 12,700 tonnes compared with 19,500 tonnes of zinc production in 2012 as a result of significantly lower zinc grades. Mining of the Boundary open pit began in 2013 and provides a supplemental feed source as underground reserves are depleted. An extension to the existing deposit at depth had been under review, but analysis of exploration results has shown that this deposit is not a viable option to extend the mine’s life. The current deposits being mined are expected to be exhausted in the first half of 2015, after which time the mine will be permanently closed. Closure and reclamation costs, which have been provided for, are estimated to be $10 million. Duck Pond’s production in 2014 is expected to be approximately 14,000 to 16,000 tonnes of copper and approximately 15,000 tonnes of zinc.
Comment by
phoenix_trader on Apr 09, 2014 1:28am
What Little Deer will need is the Duck Pond mill and equipment. Teck will sell off the assets and Little Deer is a logical buyer. Teck is a seller not a partner. Rambler is not in control of Little Deer unless Thundermin decides it is in our best interests. By the way when can we expect the arbitrators decision on Lac Pelletier, long overdue.