Gunnison Copper Corp (TSX:GCU, OTCQB:GCUMF) shares gained more than 10% in late-morning trading on Thursday after the multi-asset, pure-play copper developer and producer reported its first copper cathode sales from the fully operational Johnson Camp Mine in Arizona.
The initial sale totalled 225,371 pounds, generating gross proceeds of about US$1.05 million at an average price of US$4.64 per pound.
Production at Johnson Camp began in late August 2025, ahead of schedule. The company noted that the copper is fully produced in the US and it is being delivered into domestic markets.
"Strong copper prices and increasing production levels position us well as we move towards a potential equity valuation re-rating as a copper producer,” Gunnison Copper chief financial officer Craig Hallworth said in a statement.
The Johnson Camp currently has a nameplate capacity of 25 million pounds, per year.
Gunnison Copper shares have surged more than 45% year to date.