TORONTO (miningweekly.com) – British Columbia-based base metals producer Copper Mountain Mining has widened its fourth-quarter net loss to C$16.25-million, or C$0.11 a share, from the net loss of C$4.15-million, or C$0.03 a share, reported for the comparable period a year earlier.
Adjusted earnings for the three months ended December 31 were on par with the comparable 2013 period at C$0.05 a share, beating the average forecast of 14 analysts of adjusted profit of C$0.03 a share.
Revenues for the period declined 17% to C$53.91-million from C$64.71-million in the same period last year, below analyst expectations of C$72.96-million.
The company ended the quarter with output at 20-million pounds of copper, 6 100 oz of gold and 101 000 oz of silver.
Copper Mountain added that at the end of the year, the newly installed C$40-million secondary crusher was operating at design capacity and the finer mill feed provided the increased milling rate as planned.
For 2015, the company expected to produce about 100-million pounds of copper equivalent, which would comprise about 80-million pounds of copper, 35 000 oz of gold and 290 000 oz of silver.