|By Marketwired .||
|July 15, 2014 07:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/15/14 -- Imperial Metals Corporation (TSX:III) reports that metal production for the second quarter 2014 from its Mount Polley, Huckleberry(1) and Sterling mines was, on an aggregate basis, 16.6 million pounds copper, 13,867 ounces gold and 59,289 ounces silver.
At Mount Polley the second quarter average daily throughput was 23,404 tonnes per day, up by 23% compared to the first quarter. Metal production totalled 12.0 million pounds copper, 11,867 ounces gold and 33,813 ounces silver; increases of 46%, 24% and 35% respectively compared to the first quarter 2014.
Huckleberry copper production was up 67% in the second quarter 2014 compared to the first quarter, from 5.5 million pounds to 9.2 million pounds. The SAG mill has performed well since the restart on April 5, with throughput averaging 15,213 tonnes per day for the second quarter, up from the first quarter average of 9,967 tonnes per day. Softer ore from the Main Zone pit and adjustments in the mill resulted in a steady increase in the mill throughput rate during the second quarter. In the first week of July, the mill throughput averaged 20,433 tonnes per day.
Sterling mining operations resumed on June 17, 2014 after the mine received an air emissions permit issued in accordance with new regulations. Due to the suspension of operations no gold was shipped during the second quarter compared to 2,104 ounces gold shipped during the first quarter. Subsequent to the end of the second quarter, approximately 1,500 ounces gold was shipped in early July.
On-site construction at Red Chris is well advanced. Interior steel, mechanical installation, and the tailings and reclaim water systems are 93% complete. Piping and electrical work (including the powerline from Tatogga to the minesite) continues to progress at a satisfactory rate, and will be completed on time for the commissioning and start-up of milling operations at Red Chris. Mining operations have already commenced at Red Chris with the first excavation of ore grade material from the East zone. This material is being stockpiled for commencement of milling operations.
The 287kv Northwest Transmission Line (NTL) from Skeena substation near Terrace to Bob Quinn is now complete, and BC Hydro reports the Bob Quinn substation was energized today. Construction of the 93km Iskut extension of the NTL from Bob Quinn to Tatogga continues to progress. All towers for the Iskut extension are targeted to be in place by the end of July. Energization of the Iskut extension has been delayed somewhat as a result of the delivery of faulty implosion sleeves. These sleeves are used to splice the conductors. Implosion sleeves are specifically designed metallic sleeves with a small engineered charge wrapped around the sleeve. The charge creates an implosive compression, seamlessly joining two conductor ends. At present the new implosion sleeves are targeted to be on site by the end of July. Due to delays associated with the faulty implosion sleeves, the completion and energization of the Iskut extension is now anticipated to be in September 2014. Commissioning and start up of the Red Chris milling operations will follow.
(1) stated as Imperial's 50% allocation of Huckleberry production
Imperial is an exploration, mine development and operating company based in Vancouver, British Columbia. The Company operates the Mount Polley copper/gold mine in British Columbia and the Sterling gold mine in Nevada. Imperial has 50% interest in the Huckleberry copper mine and has 50% interest in the Ruddock Creek lead/zinc property, both in British Columbia. Imperial is in development of its wholly owned Red Chris copper/gold property in British Columbia.
Cautionary Note Regarding "Forward-Looking Information"
This press release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian and United States Securities Laws, which we will refer to as "forward-looking information". Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking information. If we discuss mine plans; costs and timing of current and proposed exploration, development, production and marketing; capital expenditures; construction of transmission lines; cash flow; working capital requirements and the requirement for additional capital; operations; revenue; margins and earnings; future prices of copper and gold; future foreign currency exchange rates; future accounting changes; future prices for marketable securities; future resolution of contingent liabilities; receipt of permits; or other matters that have not yet occurred, we are making statements considered to be forward-looking information or forward-looking statements under Canadian and United States Securities Laws.
The forward-looking information in this press release may include words and phrases about the future, such as: plan, expect, forecast, intend, anticipate, estimate, budget, scheduled, believe, may, could, would, might or will. We can give no assurance the forward-looking information will prove to be accurate. It is based on a number of assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities or exchange rates, that the mining operations will operate and the mining projects will be completed in accordance with their estimates and achieve stated production outcomes and such other assumptions and factors as set out herein. It is also subject to risks associated with our business, including but not limited to: risks inherent in the mining and metals business; commodity price fluctuations and hedging; competition for mining properties; sale of products and future market access; mineral reserves and recovery estimates; currency fluctuations; interest rate risks; financing risks; regulatory and permitting risks; environmental risks; joint venture risks; foreign activity risks; legal proceedings; and other risks that are set out in the Company's current Management's Discussion & Analysis. If our assumptions prove to be incorrect or risks materialize, our actual results and events may vary materially from what we currently expect as provided in this press release. We recommend review of the Company's current Management's Discussion & Analysis, which includes discussion of material risks that could cause actual results to differ materially from our current expectations. Forward-looking information is designed to help you understand management's current views of our near and longer term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
Chief Financial Officer
Vice President Corporate Development
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Oct. 27, 2016 11:15 AM EDT Reads: 2,226
Oct. 27, 2016 11:15 AM EDT Reads: 526
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
Oct. 27, 2016 11:00 AM EDT Reads: 200
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
Oct. 27, 2016 11:00 AM EDT Reads: 3,047
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Oct. 27, 2016 11:00 AM EDT Reads: 2,083
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 27, 2016 11:00 AM EDT Reads: 1,142
Oct. 27, 2016 10:30 AM EDT Reads: 2,076
Oct. 27, 2016 10:30 AM EDT Reads: 16,635
Oct. 27, 2016 10:15 AM EDT Reads: 3,212
Oct. 27, 2016 10:15 AM EDT Reads: 1,400
Oct. 27, 2016 10:15 AM EDT Reads: 2,036
Oct. 27, 2016 09:15 AM EDT Reads: 2,156
Oct. 27, 2016 09:00 AM EDT Reads: 2,056
Oct. 27, 2016 08:45 AM EDT Reads: 11,586
Oct. 27, 2016 08:15 AM EDT Reads: 528