Copper Mountain Mining Corporation T.CUM

Primary Symbol: CPPMF

Metals & Mining Copper

Copper Mountain Mining Corp is a copper producer, developer and explorer. Copper Mountain's flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine produces over 90 million pounds of copper equivalent per year with a large resource that remains open laterally and at depth. The company also has the development stage Eva Copper Project in Queensland, Australia.

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Copper Mountain Mining Corporation

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Post by Betteryear2on Nov 01, 2021 7:10am

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Post# 34071914

Q3 2021 Financial Results

VANCOUVER, BC, Nov. 1, 2021 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the "Company" or "Copper Mountain") announces strong third quarter 2021 financial and operating results. All currency is in Canadian dollars, unless otherwise stated. All results are reported on a 100% basis. The Company's Financial Statements and Management's Discussion & Analysis ("MD&A") are available at www.CuMtn.com and www.sedar.com.

HIGHLIGHTS

Production in the third quarter of 2021 was 26.3 million pounds of copper equivalent (comprised of 22.4 million pounds of copper, 7,449 ounces of gold, and 134,987 ounces of silver).
C1 cash cost(1) per pound of copper produced in the third quarter of 2021 was US$1.50, all-in sustaining cost (AISC) (1) per pound of copper was US$1.77, and all-in cost (AIC)(1) per pound of copper was US$2.17.
Revenue for the third quarter of 2021 was $137.2 million from the sale of 24.4 million pounds of copper, 8,308 ounces of gold, and 142,128 ounces of silver, net of pricing adjustments.
Gross profit for the third quarter of 2021 was $66.6 million.
Net income was $25.8 million, or $0.08 on a per-share basis, and adjusted net income(1) was $41.4 million, or $0.20 on a per share basis(1).
Cash flow from operations for the third quarter of 2021 was $90.9 million, or $0.43 on a per-share basis(1).
Cash at the end of the third quarter of 2021 was $199.4 million, which included restricted cash of $16.1 million.
Commissioning of the third ball mill commenced at the Copper Mountain Mine, with the objective to increase plant milling capacity to 45,000 tonnes per day from 40,000 tonnes per day and improve recovery performance.
Exploration success continued with the Company doubling the vertical extent of mineralization at New Ingerbelle in B.C. and identifying three major mineralized zones at Cameron Copper in Australia.