SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Gold/Mining/EnergyCopper Mountain Mining Corporation (CUM.TO) -Toronto


Previous 10 Next 10 
To: E_K_S who wrote (22)4/28/2013 10:03:27 PM
From: Sultan
   of 53
 
Saw that news.. No clue here where things end up.. All depends on price of copper and CUM spending more money to improve the production numbers..

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (22)5/6/2013 3:50:55 PM
From: Sultan
   of 53
 
Copper Mountain announces 2013 first quarter conference call details

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


From: E_K_S5/14/2013 7:10:56 PM
   of 53
 
Copper Mountain announces first quarter 2013 results

goo.gl

VANCOUVER, May 14, 2013 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain")announces revenues of $55.1 million after pricing adjustments and treatment charges for the three months ended March 31, 2013.

First Quarter 2013 Highlights (100% Basis)
Gross profit for the quarter was $8.1 million. Copper concentrate shipments totalled approximately 26.8 DMT during the first quarter of 2013. Concentrate contained approximately 15.0 million pounds of copper, 5,800 ounces of gold, and 69,000 ounces of silver.
Total production for the 2013 first quarter at Copper Mountain Mine (100%) was 14.2 million pounds of copper, 5,300 ounces of gold and 64,200 ounces of silver. Mining activities continued at a steady rate of 172,000 tonnes per day moved during the first quarter of 2013.
Milling activities continued to improve - Operating time in particular, improved by approximately 5% to 85.9% in the first quarter of 2013 (including 93.3% in February) as compared to the 2012 average of 82.1%.

EBITDA1 and Adjusted EBITDA2 were $7.5 million and $17.6 million respectively. Adjusted earnings were $7.8 million or $0.08 per share. Site cash costs were US$1.62 per pound of copper produced net of precious metal credits. Total costs were US$2.18 per pound of copper sold net of precious metal credits and after all off site charges. Average realized copper price for the period US $3.56 per pound.

Jim O'Rourke, President and CEO of Copper Mountain, remarked, "although concentrator operating time has challenged us longer than we anticipated following the start-up period, we are confident that the major issues causing unscheduled downtime of: SAG mill grates, ball mill motor programing, tailing line wear repairs and water level in the tailings management facility have been addressed and are behind us. The resolution to these design and supply issues provide a significant step forward towards us achieving our production goals."

Mr. O'Rourke continued, "Looking forward, management's efforts are fully focused on optimizing mine and mill operations which include finalizing the review work on the installation of secondary crushing at the mine site. The test that was completed in March, with pre-crushed ore to the SAG Mill, was extremely enlightening and demonstrated that with pre-crushing the concentrator can achieve throughput rates above the designed capacity of 35,000 tpd. Following this test with pre-crushed ore, a second test was completed with ore blasted with high energy explosives to create increased fragmentation to enhance SAG Mill capacity. This test was also successful in demonstrating increased mill throughput. In the immediate and short term, we plan to continue to utilize high energy blasting and continue with a contractor to crush up to 10,000 tpd of minus 2 inch ore to meet our tonnage goals. Long term we are focused on finalizing our plans for the installation of a secondary crusher to consistently achieve mill tonnage above our 35,000 tpd design capacity."

=========================================

Adjusted earnings for the quarter were $0.08/share. If you annualize the EPS you get $0.32/share for a year. Based on the closing price of $1.76/share that comes out to a 5.5 PE. For me that's very good and the operation is getting more productive as they bring on line their milling operation. Stock is selling too cheap. This should be selling at a 10 PE but maybe expectations is that Copper prices have more to fall.

EKS

Share RecommendKeepReplyMark as Last ReadRead Replies (11)


To: E_K_S who wrote (25)5/14/2013 8:37:09 PM
From: Sultan
   of 53
 
Looks good to me considering the share price.. I wonder why some one is not making a run at them..

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)6/10/2013 2:00:53 PM
From: Sultan
   of 53
 
Copper Mountain mine back in full operation one week ahead of schedule

Web Site:
www.CuMtn.com
TSX: CUM

VANCOUVER , June 10, 2013 /CNW/ - Copper Mountain Mining Corporation ( CUM.TO) (the "Company" or "Copper Mountain") announces that further to the Company's news releases of May 22 and 17, 2013, the damaged SAG mill transformer has now been fully repaired and re-installed which has allowed the concentrator to be back at full operation with one SAG Mill and two Ball Mills operating as expected. Site maintenance personnel received the repaired transformer from the repair shop in Edmonton this past weekend, a full week ahead of the originally scheduled shipment date. The repaired transformer has had all three sets of coils replaced and has been fully inspected and certified as new by ABB personnel and comes with a one year warranty.

Mr. Jim O'Rourke, President & CEO stated, "We were very pleased with operational results of running with only one Ball Mill. During the period in which the concentrator was operating with only one Ball Mill, site personnel were able to make modifications to the operation to minimize lost production, which included mining higher grade material, decreasing the size of the SAG Mill discharge screen to provide a finer size of ore being sent to the Ball Mill thus maximizing the Ball Mill's capacity. The operational adjustments were very effective in that during the period of running with just one Ball Mill, the concentrator achieved a 95.4% availability; averaged 1,207 TPOH; had copper recoveries of 86.7%; and produced 12% more lbs of copper per day than the first two weeks of May before the transformer failure."

Mr. O'Rourke continued, "The operation with one Ball Mill clearly confirms that if we can increase tonnage through the SAG Mill, the Ball Mill circuit will handle it. All data from operations during this period confirms that we could achieve 2000 TPOH at 92% operating time with both Ball Mills running. I would like to thank all site personnel and ABB staff who worked around the clock to get the failed transformer back in operation a full week a head of the originally estimated repair time."

The exact cause of the failure has not yet been determined, the three coils that were replaced have been sent to ABB`s repair shop in Italy for further testing and evaluation.

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)8/12/2013 11:59:06 AM
From: Sultan
   of 53
 
Copper Mountain announces second quarter 2013 results

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)10/8/2013 12:03:22 PM
From: Sultan
   of 53
 
Copper Mountain Provides Third Quarter Operational Update

VANCOUVER, Oct. 8, 2013 /PRNewswire/ - Copper Mountain Mining Corporation ( CUM.TO) (the "Company" or "Copper Mountain") announces production results for the third quarter of 2013 from the Copper Mountain mine located in southern British Columbia.

The mine had record copper production for the quarter and exited the quarter on a positive note with September's copper production totaling 6.8 million pounds. Production for the quarter ended September 30, 2013 totaled 17.7 million pounds of copper, 6,417 ounces of gold, and 79,290 ounces of silver. Production improvements can be attributed to the increased average mill throughput rate made possible with the short term secondary crushing strategies that have been implemented and improved in late July. These short term strategies include: utilizing an increased powder factor in the blasting in the mine to create more fines in the ore; continuing with a contract portable crusher at the primary crusher to crush plus 5,000 tpd of ore to minus two inches; and the introduction of the Company's own small portable crusher that was purchased and installed at the coarse ore stockpile during the quarter. The combination of these three activities is designed to create between 12,000 tpd and 13,000 tpd of minus two inch ore feed for the SAG mill. In September the average daily throughput of the SAG mill was 31,925 tpd with an average of 7,600 tpd minus 2 inch crushed product from the portable crushers. Mill availability at 94.2% for the month was a positive contribution to the 89.3% average for the quarter.

Mill throughput during the quarter improved to an average of 29,130 tpd compared to 26,000 for the first half of 2013, an increase of 12%. The mill processed a total 2.7 million tonnes of ore at an average grade of 0.344 % copper during the quarter as compared to 2.5 million tonnes of ore for the three months ended June 2013. Mill recoveries for the third quarter were 87% as compared to 85% for the first half of 2013.

Mining activities continued in both the Pit 2 and Pit 3 areas on plan and averaged approximately 154,300 tonnes per day mined. During the quarter a total of 14.0 million tonnes of material was mined, including 3.9 million tonnes of ore and 9.4 million tonnes of waste. The projected life of mine strip ratio is 2 to 1 but higher in the early years.

For the third quarter ended September 30, 2013 the mine shipped 32,840 wmt of concentrate containing approximately 16.3 million pounds of copper, 5,967 ounces of gold, and 69,427 ounces of silver generating an estimated $61.8 million in gross revenue.

All production figures are reported on a 100% basis.

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)11/11/2013 11:58:13 AM
From: Sultan
   of 53
 
Copper Mountain Announces Bought Deal Financing for Proceeds of Cdn$30 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2013) -


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Copper Mountain Mining Corporation ( CUM.TO) ("Copper Mountain" or the "Company") is pleased to announce that it has entered into an agreement with National Bank Financial Inc. as lead underwriter on behalf of a syndicate of underwriters to be formed (the "Underwriters"), for the issuance of 17,700,000 common shares (the "Shares") of the Company, on a bought deal basis, at a price of Cdn$1.70 per Share for aggregate gross proceeds of Cdn$30,090,000 (the "Offering").

Copper Mountain plans to use the net proceeds of this financing for the construction of a secondary crusher to increase production at the Copper Mountain Mine site and for general corporate purposes.

The Underwriters also have the option to increase the size of the Offering by up to an additional 2,655,000 Shares (the "Underwriters' Option") at any time until 30 days following the closing of the Offering, for aggregate gross proceeds under the Offering of Cdn $34,603,500 if the Underwriters' Option is exercised in full.

The Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions.

The offering is scheduled to close on or about December 3, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)12/3/2013 11:58:43 AM
From: Sultan
   of 53
 
Copper Mountain closes Cdn $30 million bought deal financing

VANCOUVER , Dec. 3, 2013 /CNW/ - Copper Mountain Mining Corporation ( CUM.TO) (the "Company" or "Copper Mountain") announces that it has closed its Cdn $30 million bought deal financing (the "Offering") announced on November 11, 2013. The syndicate of underwriters was led by National Bank Financial Inc. and includes Canaccord Genuity Corp., Scotia Capital Inc., CIBC World Markets Inc. and Raymond James Ltd. (collectively the "Underwriters"). The Offering consisted of the issue of 17,700,000 common shares at a price of Cdn $1.70 per share, resulting in Cdn $30,090,000 in gross proceeds to the Company. Copper Mountain plans to use the net proceeds of this financing for the construction of a secondary crusher to increase production at the Copper Mountain Mine site and for general corporate purposes.

The Underwriters also have the option to increase the size of the Offering by up to an additional 2,655,000 Shares (the "Underwriters' Option") at any time until January 2, 2014 , for an additional gross proceeds of Cdn $4,513,500 if the Underwriters' Option is exercised in full.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

Mr. O'Rourke, Chief Executive Officer of the Company stated: "I am extremely pleased with the market support to strengthen our financial position to ensure our ability to maximize future production. With this financing complete, the Company is well positioned to build the new secondary crusher in an expeditious fashion and enable the mine to reach its designed capacity on a consistent basis by late next summer."

The Company also reports that the mine was able to repair the failed transformer as planned and had the second ball mill back in operation on Saturday, November 30, 2013 .

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read


To: E_K_S who wrote (25)12/11/2013 12:36:38 PM
From: Sultan
   of 53
 
Copper Mountain provides 2014 production guidance and operational update

VANCOUVER , Dec. 11, 2013 /CNW/ - Copper Mountain Mining Corporation ( CUM.TO) (the "Company" or "Copper Mountain") provides the following operation update and 2014 production guidance for its operations at the Copper Mountain mine located in southern British Columbia . The Company's goal for 2014 is to continue to optimize performance of the Copper Mountain Mine, to maximize our copper production while mining from both Pit 2 and Pit 3 areas during 2014. Mining at a rate of 175,000 tpd is planned to continue during 2014 with copper production forecast to be approximately 80 to 90 million pounds.

Mill throughput during the month of September was at an average of 31,693 tpd compared to 26,000 for the first half of 2013, an increase of 21.9%, however, during November the average throughput decreased to 26,123 tpd as a result of operating with one ball mill for part of the month. September and October copper production was 6.8 and 6.5 million pounds respectively, while November's production of copper was lower at 5.2 million pounds as a result of operating with only one ball mill for part of the month. Mill throughput was maintained in the 1,000 tpoh range during the period when only one ball mill was available. The target throughput is 32,000 tpd while utilizing portable crushers. The permanent secondary crusher is expected to be installed in the late summer of 2014 and this should enhance mill throughput.

finance.yahoo.com

Share RecommendKeepReplyMark as Last Read
Previous 10 Next 10