Highland Valley Copper is reporting a jump in revenues during the first quarter of the fiscal year.
CEO Don Lindsey says with copper prices hitting a four-year high in January of $3.27 per pound, revenues were up 16-per-cent to $64-million from $40-million for the same period last year.
“Our average realized price was up 49-cents U.S. during the same period” he says. Lindsey adds higher than expected ore grades at the Kamloops operation during the first quarter meant higher production, higher sales, and lower recovery costs. “We continue to expect higher than average grades and production in 2018 versus 2017 – but we do not expect the high grades in Q1 to be repeated in the remainder of the year.”
Parent company Teck Resources says its first quarter profits are up more than 36-per-cent to $759-million.