First Quarter Highlights:
- Copper payable sales increased 70.7% to 9.1 million pounds compared to 5.3 million pounds in Quarter 1, 2021.
- Improved operating results for Quarter 1, 2022:
- Ore tonnes produced was 238,979 dry metric tonnes (dmt), a 37.0% increase from the 174,432 dry metric tonnes (dmt) produced in Quarter 1, 2021.
Mill Feed was 237,239 dry metric tonnes (dmt), an 11.7% increase from the 212,329 dry metric tonnes (dmt) processed in Quarter 1, 2021.- Overall Head Grade was significantly higher at 1.8% Copper when compared to the 1.2% Copper realized in Quarter 1, 2021.
2022 Quarter 1 | 2022 -QTR 1 | 2021 -QTR 1 | QTR 1 | |||
Production Results | % Variance | |||||
Ore Tonnes Produced | 238,979 | 174,432 | +37.0% | |||
Ore Tonnes Milled | 237,239 | 212,329 | +11.7% | |||
Head Grade % | 1.83% | 1.17% | +56.4% | |||
Payable Copper (million pounds) | 9.10 | 5.33 | +70.7% | |||
Gold (ounces) (1) | 3,695 | 2,199 | +68.1% | |||
Silver (ounces) (1) | 45,126 | 22,720 | +98.6% |
1. 100% amounts. Under the agreement with Wheaton Precious Metals, the Company receives 65% of the value of gold shipments up to 11,000 ounces. Silver receipts are at the lesser of the prevailing market price and US |
"After a challenging start in 2021, the team has shown tremendous perseverance and has now put together 5 months in a row of strong operating results as we carried our momentum from November and
"We eliminated our underground mine contractor and started to self perform mining operations for the first time in Minto's history in
About
Minto operates the producing Minto mine located in the Minto Copper Belt,
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For further information:
Chief Financial Officer
(416) 895-4824
E-mail: info@mintomine.com
President & Chief Operating Officer
(647) 523-6618
SOURCE
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