579 0 Kommentare Capstone Mining First Quarter 2018 Financial Results - Seite 2

^[2] Q1 2018 includes a provisional pricing adjustment of $(2.3) million (2017 - $2.2 million) related to prior shipments, equivalent to $(0.07) per pound (2017 - $0.06 per pound) of copper sold during the quarter.
^[3] Q1 2018 adjusted realized copper price does not include any realized derivative losses (2017 loss - $11.6 million) equivalent to nil per pound (2017 loss - $(0.29) per pound) related to copper derivative contracts exercised during the quarter.
^[4 ^]In accordance with IFRS 5, Minto's results are excluded from revenue in both the current and comparative period. Minto's results are included within cash flow amounts in both the current and comparative period.

Financial and Operational Highlights for the Quarter Ended March 31, 2018

Net income from continuing operations of $10.3 million. The net income was attributable to higher realized copper prices of $2.98 per pound compared to $2.73 per pound in 2017.
The absence of any commodity derivative losses as Capstone has been completely unhedged from the beginning of 2018.
Cash flow from operating activities of $32.8 million or $0.08 per common share.
Working capital decreased by $5.4 million to $184.0 million at March 31, 2018 from $189.4 million at December 31, 2017.
Operating cash flow before changes in working capital^[^1] of $24.6 million or $0.06 per share was slightly higher due to higher operating cash flows at Cozamin, primarily due to higher copper prices, the absence of any negative forward commodity derivative contracts settlements in Q1 2018, mostly offset by lower operating cash flows at Minto.
Produced a total of 15,152 tonnes of payable copper from continuing operations at a C1 cash cost^[^1] of $1.95 per pound of payable copper produced.
Revenue of $103.7 million generated primarily from the sale of 15,962 tonnes of copper from continuing operations.

Production and Additional Highlights for the Quarter Ended March 31, 2018

Pinto Valley Mine:

Produced 11,421 tonnes of copper during Q1 2018 at a C1 cash cost^[^1] of $2.41 per pound of payable copper produced and all-in sustaining cost^[^1] of $2.96 per pound of payable copper produced.
At Pinto Valley, production was lower than planned with throughput and recoveries at the low end of expectations due to unplanned downtime. Grade was in line with the mine plan for the quarter, with higher head grade and production expected over the remainder of the year.