|
Q2 2020 HIGHLIGHTS
l
Exceeded revised operating plan announced March 10, 2020 with Q2 2020
production of 23.9 million pounds of copper equivalent (comprising of
18.1 million pounds of copper, 7,499 ounces of gold and 86,126 ounces of
silver).
l
Reduced cash cost per pound significantly in Q2 2020:
l
C1 cash cost per pound of copper produced was US$1.48 compared to
US$1.74 in Q2 2019.
l
All in sustaining cost (AISC) per pound of copper was US$1.67 compared
to US$1.85 in Q2 2019.
l
All-in cost (AIC) per pound of copper was US$1.67 compared to US$2.35 in
Q2 2019.
l
Increased revenue to $91 million compared to $65 million in Q2 2019
l
Increased gross profit to $30.3 million compared to $1.6 million in Q2
2019
l
Increased earnings per share to $0.12 compared to $0.01 in Q2 2019
l
Increased cash flow from operations before working capital changes to
$41.5 million compared to $4.7 million in Q2 2019.
l
Completed the installation of Direct Flotation Reactors in July on
schedule and on budget.
l
Completed updated Eva Copper Feasibility Study (announced May 7, 2020)
demonstrating improved economic and operating metrics, including:
l
After-tax NPV (8%) of US$437 million and an after-tax IRR of 29%.
l
Total production of 1.5 billion pounds of copper over a 15-year mine
life.
l
C1 cash costs of US$1.44 per pound of copper, net of by-product credits.
T1:
Summary of Operating Results
|
Copper Mountain Mine (100% Basis) |
2020 Q2 |
2019 Q2 |
2020 H1 |
2019 H1 |
|
Mine |
|
|
|
|
|
Total tonnes mined (000s) |
10,947 |
16,139 |
25,866 |
33,593 |
|
Ore tonnes mined (000s) |
3,577 |
3,007 |
7,255 |
5,821 |
|
Waste tonnes (000s) |
7,370 |
13,132 |
18,611 |
27,772 |
|
Stripping ratio |
2.06 |
4.37 |
2.57 |
4.77 |
|
Production |
|
|
|
|
|
Copper equivalent (000s) |
23,946 |
22,112 |
45,717 |
44,305 |
|
Copper (000s lb) |
18,092 |
18,450 |
35,564 |
37,060 |
|
Gold (oz) |
7,499 |
6,922 |
13,638 |
14,049 |
|
Silver (oz) |
86,126 |
65,707 |
166,142 |
127,987 |
|
Sales |
|
|
|
|
|
Copper (000s lb) |
18,879 |
17,931 |
36,741 |
37,279 |
|
Gold (oz) |
6,289 |
7,044 |
12,653 |
14,070 |
|
Silver (oz) |
80,294 |
55,276 |
158,866 |
120,268 |
|
C1 cash cost per pound of copper produced (US$) |
1.48 |
1.74 |
1.74 |
1.76 |
|
AISC per pound of copper produced (US$) |
1.67 |
1.85 |
1.9 |
1.86 |
|
AIC per pound of copper produced (US$) |
1.67 |
2.35 |
2.06 |
2.4 |
|
Average realized copper price (US$ per pound) |
2.43 |
2.72 |
2.49 |
2.79 |
Source：Copper
Mountain |
