First Quantum Minerals (TSX: T.FM, Stock Forum) today reported record copper production of 82,200 tonnes for Q3 2008. This is up from production levels of 22,600 tonnes for Q3 2007 and 1,200 tonnes for Q2 2008. Stockpiles of copper concentrate at the end of Q3 totaled roughly 19,900 tonnes of copper in concentrate, a decrease of over 30%, or 8,800 tonnes, from the June 30, 2008 level of 28,700 tonnes.
On the FM Bullboard, Stockhouse investor McCordy lamented trading pressure on the sell side coming from “Anonymous” and wound up his or her post by saying, “I was obviously wrong about this stock and have since left as it was causing me to lose sleep.”
Suffice to say that McCordy is not alone.
Shares of First Quantum are down 9.7% to $22.86 in Wednesday morning trading.
