VANCOUVER, BC, Jan. 19, 2022 /PRNewswire/ – Copper Mountain Mining Corporation (TSX: CMMC) (ASX: C6C) (the “Company” or “Copper Mountain”) announces it has entered into a series of zero-cost collar option contracts. The contracts cover 3.3 million pounds of copper per month through 2022, for a total of 39.6 million pounds of copper. The floor price of the monthly copper options has been set at US$4.00 per pound with an average ceiling price of US$4.91 per pound.
Gil Clausen, Copper Mountain’s President and CEO, commented, “We initiated a zero-cost collar copper price protection program this month as we believe it is prudent for us to protect our margins as we invest in our projects this year. This is in line with our strategy to be environmentally and financially judicious, as we move forward with our growth plans. The detailed engineering is progressing well at the Eva Copper Project. We are also continuing to advance the installation of an additional concentrate cleaner flotation cell and another filter press, together with new rougher flotation cell capacity at the Copper Mountain Mine.”
About Copper Mountain Mining Corporation
Copper Mountain’s flagship asset is the 75% owned Copper Mountain Mine located in southern British Columbia near the Town of Princeton. The Copper Mountain Mine currently produces approximately 100 million pounds of copper per year, with average annual production expected to increase to about 140 million pounds of copper equivalent. Copper Mountain also has the 100% owned development-stage Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly prospective land package in the Mount Isa area. Copper Mountain trades on the Toronto Stock Exchange under the symbol “CMMC” and Australian Stock Exchange under the symbol "C6C".