Gunnison Copper announced the first sales of pure copper cathode from its fully operational Johnson Camp mine in southeast Arizona, with production capacity of up to 25 million pounds annually.
On September 15, Gunnison completed its inaugural copper sales, marking the start of revenue generation following the successful commissioning of the mine. Gunnison sold a total of 225,371 lb. of finished copper cathode at an average realized copper price of $4.64 per pound, generating gross proceeds of approximately $1,046,194.
“This milestone represents the first revenue from Johnson Camp and demonstrates the rapid progress Gunnison has made in delivering value to shareholders since achieving first copper production just weeks ago,” said Craig Hallworth, senior vice president and chief financial officer.
“Strong copper prices and increasing production levels position us well as we move towards a potential equity valuation re-rating as a copper producer. We are especially proud that every pound sold is 100% Made-in-America copper, directly supporting our nation as we work together to strengthen our supply chains.”
Johnson Camp commenced production in the last week of August, ahead of schedule, and with an excellent health and safety record. Copper cathode from JCM is fully produced in the United States, contributing directly to American energy independence.
Source: Gunnison Copper