Copper, gold and silver production for the first quarter of 2018 at Copper Mountain Mine was 23.2 million pounds of copper equivalent which includes 19.9 million pounds of copper, 6,070 ounces of gold and 77,900 ounces of silver.
Revenue for the period was $78.0 million, from the sale of 21.7 million pounds of copper, 6,500 ounces of gold and 80,600 ounces of silver, net of pricing adjustments.Gross profit for the quarter was $6.3 million.
Adjusted EBITDA was $28.6 million for the quarter, compared to $16 million in the same quarter for 2017.
Adjusted earnings were $10.6 million or $0.08 per share, compared to $0.3 million and nil per share for the same quarter of 2017.
Site cash costs for the 2018 first quarter were US$1.46 per pound of copper produced net of precious metal credits.
Total cash costs for the period were US$1.90 per pound of copper sold net of precious metal credits and after all off-site charges.
At the end of the quarter the Company had $42.5 million in cash, and received an additional $22 million on April 4, 2018 relating to an end of March shipment of copper concentrate.
Realized prices on metal sales were US$3.17 per pound of copper, US$1,326 per ounce of gold and US$16.60 per ounce of silver.
C6C Price at posting:
$1.29 Sentiment: None Disclosure: Held