Copper Mountain Construction Nearing Completion

STEFAN IOANNOU, Haywood Securities (02/23/2011)
"Construction at Copper Mountain's 75%-owned Copper Mountain project in BC is expected to be complete by the end of April 2011; [it] will be followed by plant commissioning in May and subsequent ramp-up to full-scale production through late June 2011.

Our $6.75 target price is underpinned, in part, by an arguably conservative modeled development timeline—namely commissioning in mid-2011 and subsequent ramp-up to full-scale production through H211. . .Once at full-scale production, the mine is expected to produce 108 Mlb. Cu/year (in concentrate; 100% basis) during the first five years of the $438M project's 17-year open-pit mine life."

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