Copper Mountain Mining Corporation T.CUM

Key statement "May double mine life"!!!

[Bearbull17]

Copper Mountain Swings to Q4 Loss On Charges Despite Production Gains 15 Feb 2019 09:39 ET 09:39 AM EST, 02/15/2019 (MT Newswires) -- Copper Mountain Mining (CMMC.TO) said on Friday it swung to a loss in the fourth quarter on non-cash charges even as production rose. The company said its net loss was $18.98 million, or $0.09 per share, compared to a profit of $23.54 million, or $0.12 in the year-prior quarter. Its adjusted loss, which excludes a $14.7 million unrealized foreign exchange charge, was $0.01 per share, matching analysts' expectations. Revenue dropped 15% despite a 7.2% rise in copper production, to 19.4 million pounds because of a 10% fall in the price of the metal. "The Copper Mountain Mine finished the year achieving guidance across all metrics," chief executive Gil Clausen said in a release. "We are also completing an integrated mine plan which will combine the New Ingerbelle deposit into the Copper Mountain mine plan and may double the mine life." The company's shares were last seen unchanged at $0.75 on the Toronto Stock Exchange.