NEW YORK Revett Minerals
Inc. fell short of its first-quarter production target at its
Troy copper-silver mine in Montana due to equipment
availability and lower ore grades, the company said in an
operations report released Monday.
"Production for the first
quarter (of) 2012 was approximately 8 percent below our
previously announced guidance of 4,000 tons per day primarily
due to availability and retrofitting of equipment as we move
towards higher biofuel usage and meeting revised diesel
particulate matter emission standards," the Spokane Valley,
Wash.-based company said.
grades also contributed to lower production, according to
Still, mill throughput of 3,684
tons per day in the first quarter was up 12.4 percent from
3,277 tons per day in the same period last year. Copper
production climbed 12.5 percent to 2.25 millions pounds from 2
million pounds a year earlier, and silver output jumped 32.4
percent to 324,375 ounces from 245,068 ounces.
Revetts net cash from
operations for the first quarter before capital expenditures
rose to $7.5 million from $3.2 million a year earlier.