Campbell Resources updates first quarter 2008 operations
15 Avril 2008 - 4:22PM
PR Newswire (US)
- Ore Production Increases 140% - Corner Bay Ramping Up MONTREAL,
April 15 /PRNewswire-FirstCall/ -- Campbell Resources Inc. (TSX:
CCH, OTC Bulletin Board: CBLRF) today provided an update of its
operations for the first quarter ended March 31, 2008. During the
quarter, the Company increased its ore production by approximately
140% compared to the first quarter of fiscal 2007 and began
development in ore on two levels at the Corner Bay project. "We are
pleased that our strategy of maximizing throughput at the Copper
Rand mill is solidly on track," said Andre Fortier, Campbell's
President and Chief Executive Officer. "In the first quarter, we
increased our ore production to 91,520 tons, up from 38,787 tons
during the same period last year, which amounts to an increase of
approximately 140%. Further, in March we began to ship ore to the
Copper Rand mill from the high-grade Corner Bay project and will
now be ramping up steadily over the coming months. Campbell now
foresees attaining a level of commercial production during the
third quarter. With the Copper Rand, Merrill Pit and Corner Bay
operations, we expect to be able to produce approximately 535,000
tons of ore in 2008, doubling the 262,000 tons produced in 2007."
For the first quarter ended March 31, 2008, Campbell produced
46,725 tons of ore at Copper Rand, yielding 2,288 ounces of gold
and 1,804,995 pounds of copper. At Merrill Pit, 43,723 tons of ore
were produced, yielding 275 ounces of gold and 318,526 pounds of
copper. Production at Merrill was curtailed in early March because
of a major equipment failure, but as of April 14 is back in full
production. At Corner Bay, 43,546 pounds of copper were produced in
March. In the first quarter of fiscal 2007, Campbell produced
22,043 tons of ore at Copper Rand, yielding 883 ounces of gold and
895,206 pounds of copper. At its Joe Mann mine, 16,744 tons of ore
were produced, yielding 3,019 ounces of gold and 66,435 pounds of
copper. In September 2007, operations at Joe Mann were halted and
the mine was placed on care and maintenance. Production at Merrill
Pit did not begin until October 2007. Full financial results for
Campbell's first quarter of fiscal 2008 will be released during the
week of May 5, 2008. Campbell Resources Inc. concentrates on the
development and exploitation of copper and gold mining properties
in the Chibougamau region of Quebec. The geographical grouping of
its operations allows the Company to realize economies of scale and
to focus development within access to existing infrastructures.
Campbell's main operations include the Copper Rand and Merrill
mines, the Corner Bay project and the Copper Rand mill. The
Company's headquarters are located in Montreal, Quebec. Certain
information contained in this release contains "Forward-Looking
Statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and is subject to certain risks and
uncertainties, including those "Risk Factors" set forth in the
Campbell's current Annual Report on Form 20-F for the year ended
December 31, 2006. Such factors include, but are not limited to:
differences between estimated and actual mineral reserves and
resources; changes to exploration, development and mining plans due
to prudent reaction of management to ongoing exploration results,
engineering and financial concerns; and fluctuations in the gold
price which affect the profitability and mineral reserves and
resources of Campbell. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. Campbell undertakes no obligation to release
publicly any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
unanticipated events or developments. DATASOURCE: CAMPBELL
RESOURCES INC. CONTACT: Campbell Resources Inc.: Andre Fortier,
President and Chief Executive Officer, (514) 875-9037, Fax: (514)
875-9764, ; Renmark Financial Communications Inc.: Henri Perron: ;
Julien Ouimet: jouimet@ renmarkfinancial.com, (514) 939-3989, Fax:
(514) 939-3717; http://www.renmarkfinancial.com/
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