Revett Minerals Inc. (AMEX: RVM; TSX: RVM) issued today 2012 operational guidance for production from its Troy silver and copper mine in northwestern Montana.
Production at the Troy Mine is expected to be approximately 1.4 million ounces of silver and 11.5 million pounds of copper for 2012. Based on the current mine plan, mill throughput is anticipated to average 4,000 tons per day and grades are expected to average around 1.15 ounces per ton silver and 0.47% copper. Production costs on a net of byproduct basis are estimated to be US$4.89 per ounce of silver and US$1.54 per pound of copper and on a co-product basis costs are estimated to be US$13.79 per ounce of silver and US$2.24 per pound of copper.
Revett has hedged approximately 25% of its 2012 copper production at US$4.00 per pound.