551 0 Kommentare Capstone Mining Third Quarter 2018 Financial Results

VANCOUVER, British Columbia, October 30, 2018 /PRNewswire/ --

(All amounts in US$ unless otherwise specified)

Capstone Mining Corp. ("Capstone" or the "Company") (TSX: CS) announced its financial results for the three and nine months ended September 30, 2018. Cash flow from operating activities for the quarter was $15.3 million or $0.04 per share and $76.9 million or $0.20 per share year to date. Net income from continuing operations for the quarter was $4.1 million or $0.01 per share. Copper production for the quarter from continuing operations totalled 18,600 tonnes (17,900 tonnes of payable copper) at a C1 cash cost^[^1] from continuing operations of $1.85 per payable pound produced.

"Our mines performed as expected in the third quarter and we have seen an upward trend in production as we move through 2018," said Darren Pylot, President and CEO of Capstone. "Year to date, we have generated $76.9 million of cash flow from operating activities and net income from continuing operations of $22.6 million."

"At Pinto Valley, we are starting to see results from the various optimization activities underway through increasing plant availability," continued Mr. Pylot. "Copper production at Cozamin for the quarter was higher than projected and quarterly zinc production was the highest in over five years. We remain on track to meet our full year consolidated copper production guidance from continuing operations."

Highlights

Q3 2018 copper production and C1 cash cost^[^1] from continuing operations of 18,600 tonnes and $1.85 per payable pound produced. This represents increased production compared to Q1 2018 and Q2 2018, and was in accordance with plan.
Highest quarterly zinc production in over five years. Production from the San Rafael zinc zone at the Cozamin mine ramped up to planned levels by mid-quarter.
Updated Technical Report for the Cozamin mine expected in Q4 2018. Capstone expects to release an updated Technical Report for the Cozamin mine in Q4 2018, including updated reserves and resources and the results of a materials handling optimization aimed at increasing the production from the mine to utilize the current 20% unused processing plant capacity.
Results of updated Technical Report expected in Q4 2018 for Santo Domingo. Work continued on updating the Santo Domingo copper-iron project Technical Report to reflect current economic and operational inputs.