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Copper Mountain Announces First Quarter 2012 Results; Shares Rise Slightly

Copper Mountain Mining Corporation (CUM.TO) today announced operating income of $25.9 million for the three months ended March 31, 2012.

Highlights:

A total of four copper concentrate shipments were delivered to Japan totalling 29,400 dry metric tonnes of concentrate containing 15.7 million pounds of copper, 5,781 ounces of gold, and 124,546 ounces of silver.

Total revenues were $71.0 million including pricing adjustments.

Gross profit was $27.3 million.

Adjusted earnings were $23.6 million or $0.24 per share.

Net income for the period was $28.8 million or $0.21 per share.

EBITDA for the period was $37.8 million.

Site cash costs were US$1.41 per pound of copper sold net of precious metal credits

Total costs were US$1.83 per pound of copper sold net of precious metal credits and after all off site charges.

More than 92,000 shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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