More matter with less art

Copper Mountain (CUM.to): Looks like CUM shot its recovery percentages down

Here’s a question: What percentage of CUM feed is converted into copper? On a regular basis, that is? Yes indeed, it’s just the type of burning question that IKN finds itself pondering about today after checking out the 4q14 production numbers posted by Copper Mountain (CUM.to) this morning. As this part shows…

In 2014 the mine produced 81 million pounds of copper, 22.6 thousand ounces of gold, and 443.7 thousand ounces of silver.  The mill averaged 89.4% operating time for the year and a total of 11.1 million tonnes of ore was milled at an average grade of 0.40 % Copper.  Copper production in the fourth quarter totaled 20.3 million pounds.

…we’re given the annual numbers for metals production, as well as mill feed and head grade, but strangely they “forget” (oh how we laughed) to give us the annual average recovery, when normally they’ll tell us that little snippet of info, too. 
And once you plug in the numbers and compare them to the three previous quarters, then do a bit of simple calculation, this is what cums comes out as the result:
please note the cut-down y-axis, done to show contrast and not to fool you
Now this is still an estimate, because the calculated production is never exactly the same as the reported production. Then again it’s never far off, so even if i’m a few clicks off with my 80.65% recoveries calc here I’ll betcha a proverbial dollar to a donut that CUM.to failed to make it close to 81% recoveries last quarter.
Which should give all the fanboys of this company (Scotia and your non-stop brainless pumping of this thing, yeah I’m a-lookin’ right atcha) pause for thought, what with the waferthin margins on which it runs and the prospect of 0.33% Cu average grades in 2015 (company dixit). And all that might explain why it’s dumping like an elephant after a curry night this morning.

PS: If you know anything about how the internet works and what it’s mostly used for, you’ll understand why this is destined to be the most hit upon post here at IKN this week and that 99% of the people who cum come over won’t get past the first line. Hah! Fuck em.

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