Copper Mountain Mining Corporation T.CUM

Annual Meeting

[bigtopper]

A couple of interesting comments at the meeting. Mgmt was asked if they had considered installing another SAG mill which prompted a tongue in cheek remark about SAG mills not being their favourite piece of machinery so NO was the answer.  They indicated that high energy blasting and precrushing was a more efficient method of increasing mill throughput. While a final decision for an additional crusher has not been made, it sounds like a foregone conclusion to be made in the next few weeks. Cost about 35 million to be financed 25% by Mitsubishi, around 20 million in returned loan payments and the rest from cash flow. Meanwhile for the next year they expect throughput of around 35,000 TPD with blasting and contract precrushing. After that the new crushing unit should increase production to around 40,000 TPD. The most interesting number was the latest recovery rates which exceed 90% - a marked improvement over the last few weeks due to new video monitoring and other initiatives. Hopefully this can be maintained.