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".
Additional information is available on the Company's web page at
www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Gil
Clausen"
Gil Clausen, P.Eng.
President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This document may contain "forward looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). These forward-looking statements are
made as of the date of this document, and Copper Mountain does not
intend, and does not assume any obligation, to update these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required under applicable
securities legislation.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
relate to future events or future performance and reflect our
expectations or beliefs regarding future events.
In certain circumstances, forward-looking statements can be
identified, but are not limited to, statements which use
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes", "forecasts", "guidance", scheduled",
"target" or variations of such words, or statements that certain
actions, events or results "may", "could", "would", "might",
"occur" or "be achieved" or the negative of these terms or
comparable terminology. In this document, certain forward-looking
statements are identified, including production and cost guidance,
economics, anticipated production at the Copper Mountain Mine
anticipated metals prices and the anticipated sensitivity of the
Company's financial performance to metals prices, events that may
affect the Company's operations and development projects,
anticipated cash flows from operations and related liquidity
requirements, the anticipated effect of external factors on
revenue, such as commodity prices, and business and acquisition
strategies. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual
results, performance, achievements, and opportunities to differ
materially from those implied by such forward-looking statements.
Factors that could cause actual results to differ materially from
these forward-looking statements include, among others, the
successful exploration of the Company's properties in Canada and Australia, market price, continued
availability of capital and financing and general economic, market
or business conditions, the reliability of the historical data
referenced in this document and risks set out in Copper Mountain's
public documents, including in each management discussion and
analysis, filed on SEDAR at www.sedar.com. The potential effects of
the COVID-19 pandemic on Copper Mountain's business and operations
are unknown at this time, including Copper Mountain's ability to
manage challenges and restrictions arising from COVID-19 in the
communities in which Copper Mountain operates and its ability to
continue to safely operate and to safely return the business to
normal operations. The impact of COVID-19 is dependent on a number
of factors outside of the Company's control and knowledge,
including the effectiveness of the measures taken by public health
and governmental authorities to combat the spread of the disease,
global economic uncertainties and outlook due to the disease, and
the evolving restrictions relating to mining activities and to
travel in certain jurisdictions in which Copper Mountain operates.
Although Copper Mountain has attempted to identify important
factors that could cause our actual results, performance,
achievements and opportunities to differ materially from those
described in our forward-looking statements, there may be other
factors that cause our results, performance, achievements and
opportunities not to be as anticipated, estimated or intended,
believes that the information and assumptions used in preparing the
forward-looking statements are reasonable, undue reliance should
not be placed on these statements, which only apply as of the date
of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all.
Accordingly, readers should not place undue reliance on the
Company's forward-looking statements.
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SOURCE Copper Mountain Mining Corporation
