{"id":1102043,"date":"2019-02-25T21:31:41","date_gmt":"2019-02-25T21:31:41","guid":{"rendered":"http:\/\/resourceworld.com\/?p=54981"},"modified":"2019-02-25T21:31:41","modified_gmt":"2019-02-25T21:31:41","slug":"copper-mountain-rallies-on-b-c-mine-plan","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1102043","title":{"rendered":"Copper Mountain rallies on B.C. mine plan"},"content":{"rendered":"
\"\"<\/a><\/p>\n

Open pit mining operations at the Copper Mountain Mine near Princeton, southern British Columbia.<\/p>\n<\/div>\n

Copper Mountain Mining Corp.<\/strong> [CMMC-TSX; CPPMF-OTC; C6C-ASX] on Monday February 25 announced a new integrated life-of-mine production plan for its flagship Copper Mountain mine in southern British Columbia.<\/p>\n

Copper Mountain shares advanced on the news, rising 18.6% or 16 cents to $1.02 on volume of 1.98 million. The 52-week range is $1.45 and 65 cents.<\/p>\n

The integrated production plan includes a modest expansion of its existing Copper Mountain mine mill to 45,000 tonnes per day and integrates production from the nearby New Ingerbelle property.<\/p>\n

The results include a 102% increase in mineral reserves, a 27% increase in average annual copper equivalent production to over 116 million pounds (over the first 10 years), a 12-year extension in mine life to 26 years and a decrease in cash costs to US$1.87 per pound produced, when compared with the previous Copper Mountain Mine production plan included in the company\u2019s 2018 NI 43-101 technical report for the mine, filed in November, 2018.<\/p>\n

Copper Mountain\u2019s flagship asset is the 75%-owned Copper Mountain mine near the town of Princeton. The Vancouver-based company is working in a strategic alliance with Mitsubishi Materials Corp.<\/strong>, which owns 25% of the mine. The Copper Mountain mine produces about 100 million pounds of copper equivalent annually with a very large resource that remains open laterally and at depth.<\/p>\n

Copper Mountain shareholders recently approved the acquisition of Australia-based Altona Mining Ltd., which brings significant growth potential with the development-ready Eva Copper (Cloncurry) Project and massive exploration potential in the 4,000 km2<\/sup> (379,000 hectare) mineralized land package all within the highly prospective Mt. Isa area in Queensland, Australia.<\/p>\n

Pierre Vaillancourt, vice-president and senior mining analyst at Haywood Securities, said the Altona acquisition could be transformative for Copper Mountain, potentially doubling Copper Mountain\u2019s production profile by 2020.<\/p>\n

The integrated production plan (announced Monday) comes after the company recently released new results from drilling on the nearby New Ingerbelle property, where the company was aiming to add a minimum of 150 million tonnes of measured and indicated resources before commencing a feasibility study on the site\u2019s development potential.<\/p>\n

The goal has been to define sufficient reserves to add another 10 years of production to Copper Mountain\u2019s life of mine plan.<\/p>\n

In September 2018, the company said measured and indicated resources at New Ingerbelle stood at 151.3 million tonnes, grading 0.29% copper, 0.57 g\/t silver, 0.18 g\/t gold and 0.41% copper equivalent, containing 955.4 million pounds of copper and 872,000 ounces of gold at a 0.16% copper cut-off grade.<\/p>\n

Copper Mountain said the integrated production plan outlines a phased approach to the investments in the mill expansion and New Ingerbelle development.<\/p>\n

It said the first phase would be the plant expansion, which requires the installation of a third ball mill. The plant expansion could be completed as early as the first quarter of 2020 and is expected to cost approximately US$25 million. The second phase would be for the development of New Ingerbelle, which requires capital of about US$23 million.<\/p>\n

The after-tax net present value (NPV) (8%) of the integrated production plan for the Copper Mountain Mine, including both growth projects, is approximately US$619 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Copper Mountain Mining Corp. [CMMC-TSX; CPPMF-OTC; C6C-ASX] on Monday February 25 announced a new integrated life-of-mine production plan for its flagship Copper Mountain mine in southern British Columbia. Copper Mountain… Read more »<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[33],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102043"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1102043"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102043\/revisions"}],"predecessor-version":[{"id":1102044,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1102043\/revisions\/1102044"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1102043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1102043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1102043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}