Copper Mountain Mining Corporation (TSX: CMMC) is a Canadian based mining company whose flagship asset is the Copper Mountain mine located in southern British Columbia, near the town of Princeton.
The Company has a strategic alliance with Mitsubishi Materials Corporation who own 25% of the mine. The Copper Mountain mine produces about 100 million pounds of copper equivalent per year, including significant gold and silver credits, all of which are shipped to Japan for smelting in one of Mitsubishi’s copper smelters.
The 18,000 acre site has a large resource of copper that remains open laterally and at depth. The mine has significant exploration potential that will need to be explored over the next few years to fully appreciate the property’s full development potential. They continue to focus on maximizing cash flow & minimizing costs.
Copper Production: 75M-85M Lbs (plus Gold and Silver credits)
2016 Production: 103M Lbs CuEq
Mill Throughput: 38,000 tpd
Mill Feed Grade: 0.30% Cu
Planned Mining Rate: 180,000 tpd (Q1 2017 avg 199,600tpd)
Concentrate being delivered to Port of Vancouver, from Copper Mountain Mine, just 300 km east.
3 pronged approach:
1. Copper Mountain Mine strong foundation – adding secondary crusher a game-changer
2. Organic Growth – significant exploration potential at Mine (18,000 acres)
3. M&A – accretive growth – reviewing many opportunities
Game-Changer: Secondary Crusher – tall green building on left of image.
The Copper Mountain land package is over 18,000 acres with multiple prospective targets in and around the property.
2017 Summer Diamond Drill Program in effect:
- drilling in Eastern end of Pit 2 for deeper mineralization
- drilling in the Western end of Pit 2, expanding the ultimate pit out westward
- drilling in the Saddle area South West of Pit 2, above higher-grade Queen Anne zone.
“Exploration at the site has historically been very successful and with the strengthening copper price, the Company is very comfortable reinvesting in our large land package for future growth for our shareholders.” Jim O’Rourke, Copper Mountain CEO
Previous drilling by the Company in the Pit 2 Eastern zone intersected a 128m interval grading 1.01% Cu and 0.25g/t Au (including 39m grading 2.33% Cu and 0.38g/t Au) beginning approximately 90m below the current pit bottom in hole 10SD-64. In addition, hole number 10SD-68 intersected 173m interval grading 0.43% Cu and 0.15g/t Au, while hole number 12P2-19 intersected 123m interval grading 0.52% Cu and 0.27g/t Au. The exploration drilling is designed to better determine the trend and continuity for high-grade mineralization at depth under Pit2.
With the strengthening of the commodity price over the last year and the mine’s improved financial position, the Company has allocated modest funds to an exploration drilling program at the mine site. Our focus is to follow up on prior drilling successes to expand the open pit to the west and further test the continuity of higher grade mineralization at depth.”
Suite 1700 — 700 West Pender Street
Vancouver, BC V6C 1G8
Toll free: 1-877-451-4310
Corporate Profile on Stockhouse
Shares Outstanding: 133 million
Fully Diluted: 147.9 million
JAMES C. (JIM) O'ROURKE, P.ENG., OBC.
Graduated in 1964 with a B.A.Sc. degree in Mining Engineering from the University of British Columbia. Jim has more than 40 years of hands–on experience in mine evaluations, development, project financing, marketing and operations in Canada, the United States, South America and the Philippines. Jim is Chief Executive Officer, Director and a founding shareholder of Copper Mountain Corporation. Jim was the 2005 recipient of the Edgar A. Scholz Medal for Excellence in Mine Development in British Columbia and the Yukon, and the recipient of the Mining Person of the Year award for British Columbia in 2010. He was a recipient of the Order of British Columbia in 2011. In 2013 Jim was inducted into the Canadian Mining Hall of Fame.
RODNEY A. (ROD) SHIER, CPA- CA
Graduated from the University of British Columbia in 1986 with a Bachelor of Commerce degree and earned his Chartered Accountant designation in 1989. Rod has over twenty years experience as a corporate officer and director to a number of publicly–traded mining companies, and has experience in raising over $1 billion in debt and equity financing transactions. Rod is Chief Financial Officer, Director, and a founding shareholder of Copper Mountain Mining Corporation. His responsibilities include all aspects of the Company’s financial operations, controls and financial disclosure, as well as maintaining the Company’s corporate records, in addition to overseeing all aspects of the Company’s investor relations activities. Rod is a member of the Institute of Chartered Accountants of British Columbia and the 2013 recipient of the Edgar A. Scholz Medal for Excellence In Mine Development in British Columbia.
PETER HOLBECK, M.Sc., P.Geo
Graduated in 1981 from The University of British Columbia with a B.Sc.(hons) in geology and a Masters of Science in Economic Geology (1988), and has 25 years experience in mineral exploration and mine development.
WILLIAM (BILL) MRACEK, P.Eng.
Graduated from University of Saskatchewan with a Bachelor of Engineering degree in Mechanical Engineering and is a professional engineer registered in the province of Ontario. Has 40 years of practical and management experience in both undergroundand surface mines across Canada.
RICHARD JOYES, B.Sc. Geo
Graduated from the University of Tasmania in 1999 with a bachelors degree majoring in ore–deposit geology. With a particular focus on 3D modeling, mineral inventory and deposit estimation and database administration, Richard brings a wide variety of both field and computer based skills to the exploration team.