The Gibraltar mine in British Columbia served as the primary engine for this growth, yielding 34 million pounds of copper and 380,000 pounds of molybdenum. While these figures represent a 12% increase for the site, the company cautioned that the high-grade material driving these results has already been exhausted, with lower grades anticipated throughout the fourth quarter.
In section Market Quotes
Trekor Metals Lifts Copper Forecasts After Strong Third Quarter
Boosted by high-grade ore and upgraded mill performance, Trekor Metals produced 41 million pounds of copper during the third quarter. This production surge across its Gibraltar and Florence Copper facilities prompted management to raise full-year output targets, even as the company navigates development delays at its Arizona site.
Meanwhile, the Florence Copper facility in Arizona saw production of copper cathode climb 36% to 7 million pounds. Despite this output gain, Chief Executive Stuart McDonald acknowledged that the site’s wellfield expansion is lagging. Although drilling rates have accelerated in recent months, the project remains approximately three months behind the original schedule. Based on the quarterly performance, Trekor Metals revised its annual copper guidance for the Gibraltar mine to a range of 115 million to 120 million pounds, up from the previous estimate of 110 million to 115 million pounds.
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