UPDATE: Capstone Down More Than 5% On 2013 Operating and Capital Guidance; Shrs Rose 2% Wednesday
Capstone Mining Corp. (CS.TO), which rose 2% Wednesday, has dropped more than 5% today as it provided its production guidance for 2013 for its two operating mines, Cozamin and Minto, and company-wide capital expenditure guidance. Capstone expects to produce 85 million pounds plus or minus 5% of copper in concentrates at a total cash cost of US$1.65 to $1.75 per pound of payable copper, net of by-product credits and selling costs.
"Capstone's focus for 2013 is to maintain steady production and optimize operations at our two operating mines and advance our two development projects towards production," said Darren Pylot, President and CEO of Capstone. "With a 10-year mine life in reserves at Minto and nine years at Cozamin, our capital investment is focused on on-going development and upgrades at both mines. At Santo Domingo, we will complete various trade-off studies and pursue a port agreement, both of which will feed into the Bankable Feasibility Study. At Kutcho we will file the Environmental Assessment in 2013 that starts the formal permitting process."
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.