Gunnison Copper (TSX: GCU) is officially a copper producer in every sense of the word, with the company this morning declaring that it has made its first sales of pure copper cathode, which were produced at their Johnson Camp Mine in Arizona.
The first copper sales amounted to a total of 225,371 pounds of copper cathode, which was sold at an average realized price of US$4.64 per pound, resulting in gross revenue of US$1.05 million. The mine is expected to produce an estimate 25 million pounds of copper cathode per year.
“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. Strong copper prices and increasing production levels position us well as we move towards a potential equity valuation re-rating as a copper producer,” commented Craig Hallworth, CFO of Gunnison Coppr.
The sale follows production at the Johnson Camp Mine beginning in the last week of August 2025. The mine, which was fully funded by Nuton LLC, a subsidiary of Rio Tinto, will see all revenue accrued to Nuton until such time that payback has been completed in full.
Gunnison Copper last traded at $0.28 on the TSX.
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