On January 10, 2019, Copper Mountain Mining Corporation (ASX: C6C) announced Q4 and full year 2018 production results for its Copper Mountain mine, which is in southern British Columbia. On the same day, the company also published its production guidance for the next three-year.
Copper Mountain Mining Corporation is a copper mining company. The company engages in producing, developing and exploring world-class mining jurisdictions. The company was founded in 2006 and got listed on ASX in 2018.
As stated by Copper Mountain’s President and CEO Gil Clausen, the company is pleased to finish 2018 on a strong note by also achieving guidance across all metrics. Mr. Clausen also mentioned that the fourth quarter was their strongest production quarter. He confirmed that the Copper Mountain mine is continuously operating predictably and reliably as per the business plan. The management is expecting that production in 2019 will be marginally lower than 2018 production, but after some time, the company will be able to push up the production levels.
Right now, the company is upgrading their technical work so that they can add the New Ingerbelle Mineral resources into Mineral Reserves and after that company is going to integrate those reserves into a new life of mine plan technical report for the Copper Mountain Mine.
The management is ready to deliver the results in the Q1 of 2019. The company’s current three-year guidance does not include the integrated life of mine plan results.
The Copper Mountain mine precipitated 78.85 million pounds of copper in 2018. The company reached its production guidance of 76 to 84 million pounds of copper for the year 2018 which suggests they are on the right track. In 2018, the company’s Copper equivalent production reached 92.4 million pounds.
The company has also provided the Copper Mountain mine production expectation for the next three years. Some of the guidances are:
- Copper Mountain anticipates that output in 2019 will lie between 72 and 80 million pounds of copper, which is slightly lower than 2018 guidance this is happened due to slightly lower grade mined.
- Production from the New Ingerbelle pit is not mentioned in the three-year production guidance.
The company is going to release its Q4 2018 results on Friday, February 15, 2019 before the market opens. The company is also going to conduct a Concall (Conference Call) on the same date at 7:30 am. In this Conference call, the company will discuss its Q4 results.
Stock performance: On January 10, 2019, the shares of Copper Mountain Mining Corporation settled at A$0.930 per share, up by 5.085%. The market capitalization of the company stood at circa $140.12 Million. Let us now see how the stock has been performing from the past few months. In the time span of the previous six and three months, the stock delivered the returns of -25.32% and -25%, respectively. However, during the last month, C6C delivered the return of 10.63%.
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