Tiger Resources sets new production record
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Copper miner Tiger Resources has recorded its highest level of monthly production at its flagship project in the Democratic Republic of Congo.
Tiger boosted production by 10% to 4,422 tonnes of copper in concentrate in June at its Kipoi Copper project, beating last month's record.
"As we proceed deeper into the Kipoi Central deposit the rock becomes stronger with higher contained copper content," managing director Brad Marwood said.
The miner has beaten its forecast in the year-to-date, producing 20,604 tonnes of copper when its budget had factored in 18,500 tonnes.
Analysts polled on Bloomberg estimate Tiger's net income to be $28.8 million in 2012-13 and $64.8 million in 2013-14. They overwhelmingly have "buy" ratings on the stock with an average target price of 52 cents.
The company's share price has languished amid the falling copper price, tumbling 37.3% to 18.5 cents so far this year.
Tiger Resources is part of the Uncapped 100.
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