Capstone Mining 2014 First Quarter Production Results
1. Capstone Mining 2014 First Quarter Production Results
VANCOUVER, British Columbia, April 13, 2015 /PRNewswire/ --
First quarter output of 23,700 tonnes involving copper
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced operating results for that three
months ending March 31, 2015. Mixed copper production totalled 23,700 tonnes, using extra by-
products involving zinc, molybdenum, lead, silver and gold.
Q1 2015 Production (tonnes)
Pinto Valley
Copper in concentrates and cathode 15,800
Cozamin
Copper in concentrates 3,800
Minto
Copper within concentrates 4,100
Total copper production 23,700
"Our copper production for the quarter came in right on target," stated Darren Pylot, President as
well as CEO associated with Capstone. "Pinto Valley satisfied guidance, with much better than
predicted grades and flexibility inside the mine strategy permitting us in order to modify your mine
strategy as necessary while we have been continuing with almost all the improvement of our mill
maintenance systems. Outperformance in Minto more than made up for the shortfall from Cozamin,
that is getting addressed by means of ongoing improvements for you to mine development
practices."
Operational Highlights
Combined payable copper shipments from most mines totalled 20,082 tonnes.
At Pinto Valley, mill throughput had been lower compared to planned and will be also getting
addressed through a quantity of mill initiatives. However, much better than predicted block grades
and flexibility within the mine strategy permitted for that mining and also processing of upper grade
ore, ensuring copper production achieved guidance. While the result of enhancements towards the
PV2 mine plan shifting forward, this minor rescheduling isn't expected for you to possess a material
impact on future periods.
At Cozamin, each grade and also throughput had been lower as compared to planned as
implementation of latest ground support procedures advanced slower compared to expected within
2. the initial section of your quarter. Advantages through extra training had been realized by March,
with activities now underway to enhance development performance and also increase longhole
inventory. The Actual existing strategy calls for Cozamin to create up the particular production
shortfall in the first quarter throughout the actual remainder regarding 2015.
At Minto, production had been significantly greater than planned credited for you to ore through
area 118 underground which was over model grades, combined with most the successful mining of a
switchback inside the area 2 Stage 2 pit beforehand associated with it being required pertaining to
h2o storage, that was not inside the mine plan. The Particular hearing held from the Yukon Drinking
Water Board around the Drinking Water Use Licence amendment took place during the first week
regarding March so we await receipt in the licence. The Actual existing program gets the mill
continuing in order to method underground and also stockpiled ore, along with surface mining in
hold until receipt associated with the required licence that is expected in the 2nd how to get more
youtube subscribers for free quarter.
Q1 2015 Operating Details
Pinto Valley Cozamin Minto Total
Contained Copper Production(1)
- Copper in concentrate as well as cathode (tonnes) 15,809 3,773 4,095 23,677
- Zinc (tonnes) - 1,671 - 1,671
- Molybdenum (Mo tonnes) 49 - - 49
- Lead (tonnes) - 281 - 281
- Silver (ounces) 72,368 285,701 37,919 395,988
- Gold (ounces)(2) - - 3,792 3,792
Payable Copper Production(1) (tonnes) 15,282 3,609 3,962 22,853
Mine
- Ore (tonnes) - open up pit 4,704,771 - 80,297 4,785,068
- Waste (tonnes) 2,057,796 - 58,400 2,116,196
- Ore (tonnes) - underground - 288,219 96,491 384,710
Mill
- Tonnes processed 4,037,635 286,591 334,961 4,659,187
- Tonnes processed every day 44,863 3,184 3,722 51,769
- Copper grade (%) 0.43(3) 1.42 1.42 0.56
3. - Zinc grade (%) - 0.83 - 0.83
- Molybdenum grade (%) 0.011 - - 0.011
- Lead grade (%) - 0.17 - 0.17
- Silver grade (g/t) * 44.0 4.52 22.7
- Gold grade (g/t) - - 0.48 0.48
Recoveries
- Copper (%) 88.6(3) 92.9 85.9 88.7
- Zinc (%) - 70.1 - 70.1
- Lead (%) - 56.3 - 56.3
- Silver (%) * 70.4 77.9 71.2
- Gold (%) - - 73.9 73.9
Concentrates
- Copper concentrate (dmt) 53,593 14,611 11,663 79,867
Copper (%) 28.4 25.8 35.1 28.9
Silver (g/t) * 516.0 101.1 331.9
Gold (g/t) - - 10.1 10.1
- Zinc concentrate (dmt) - 3,534 - 3,534
Zinc (%) - 47.3 - 47.3
- Molybdenum focus (dmt) 98 - - 98
- Lead focus (dmt) - 456 - 456
Lead (%) - 61.5 - 61.5
Silver (g/t) - 2,949 - 2,949
Payable Copper Shipped (tonnes) 13,289 3,872 2,921 20,082
(1) Adjustments based on final settlements will be made in future periods. (2) Pinto Valley gold
production reaches payable amounts from time along with power to time. Just About Any payable
gold production will be reported in the period revenue can be received. With Minto, final gold
production isn't accessible since assaying is actually conducted off-site, nevertheless will be
estimated above. (3) Grade as well as recoveries had been estimated depending on concentrate
4. production. *Silver provides not been estimated in the Pinto Valley resource model. Merely
recovered silver is reported with regard to this mine.
Production Outlook
Capstone's 2015 guidance pertaining to 90,000 tonnes (±5%) regarding copper within concentrates
as well as cathode, in a C1 cash cost(1) associated with $2.00 to $2.10 for each pound of payable
copper produced net associated with by-product credits and also selling costs, remains unchanged.
(1) This is an alternate performance measure; please notice "Alternative Performance Measures" at
the conclusion of this release. all quantities throughout US$ unless or else specified.
Financial results Timing
Capstone will report Q1 2015 monetary results upon Tuesday, April 28, 2015 after market close,
adopted with a conference call and also webcast pertaining to investors along with analysts in
Wednesday, April 29, 2015 from 11:30 am Eastern time (8:30 am Pacific Time).
Conference call and Webcast Details
Date: Wednesday, April 29, 2015
Time: 11:30 am Eastern time (8:30 am Pacific Time)
Dial in: North America: 1-888-390-0546, International: +416-764-8688
Webcast: http://www.newswire.ca/en/webcast/detail/1492981/1662973
Replay: North America: 1-888-390-0541, International: +416-764-8677
Replay Passcode: 822166#
The conference call replay will most likely be available until Wednesday, Might 13, 2015. Your
conference contact audio and also transcript will probably be available in Capstone's site inside
approximately a day in the call from
http://capstonemining.com/investors/conference-calls-and-webcasts/default.aspx.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company, dedicated to copper. We're
dedicated for the responsible development of our assets as well as the environments by which we
operate. Our three producing mines are the Pinto Valley copper mine located in Arizona, US, the
Cozamin copper-silver mine within Zacatecas State, Mexico as well as the Minto copper mine in
Yukon, Canada. Within addition, Capstone provides 2 copper development projects; the large scale
70% owned copper-iron Santo Domingo project within Region III, Chile, throughout partnership
using Korea resources Corporation, and the 100% owned copper-zinc Kutcho project inside British
Columbia, Canada, as well as exploration properties within Chile. Making Use Of our cash flow and
strong stability sheet as a platform, Capstone's strategy would become to extend the particular lives
in our existing mines using mineral source and reserve expansions, in order to advance the actual
Santo Domingo development project, conduct centered exploration and also grow through
acquisitions inside politically stable, mining-friendly regions. We will pace our growth with our
5. monetary capacity, ensuring we retain, as a priority, sufficient financial overall flexibility in order to
fulfill the specifications in our active operations and also our committed development projects, while
keeping an adequate cushion to cope with industry volatility and operating risks inherent within the
mining industry. Our headquarters have been in Vancouver, Canada along with we're outlined on the
Toronto Stock Exchange (TSX). Further details is available at http://www.capstonemining.com.
Cautionary Note Relating To Forward-Looking Information
This document could have "forward-looking information" within this is regarding Canadian securities
legislation along with "forward-looking statements" within this is of the united States Private
Securities Litigation Reform Act regarding 1995 (collectively, "forward-looking statements"). These
kind of forward-looking statements are made as of the date of this document as well as Capstone
Mining Corp. (the "Company") will not intend, along with does not assume virtually any obligation, in
order to update these forward-looking statements, except as required under applicable securities
legislation.
Forward-looking statements relate to future events or even future performance and also reflect
company management's anticipations or beliefs relating to long term events and include, but are not
limited to, statements with respect for the estimation associated with mineral reserves as well as
mineral resources, the conversion regarding mineral sources in order to mineral reserves, the
particular realization regarding mineral reserve estimates, the timing as well as amount associated
with estimated future production, costs regarding production, money expenditures, achievement
associated with mining operations, environmental risks, unanticipated reclamation expenses, title
disputes as well as claims and also limitations upon insurance coverage. Inside certain cases,
forward-looking statements may be identified from the use of phrases like "plans", "expects" or even
"does not necessarily expect", "is expected", "outlook", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or perhaps "does not necessarily anticipate", or perhaps
"believes", or even variations of such content as well as statements that will certain actions, events
as well as results "may", "could", "would", "might" or perhaps "will be taken", "occur" as well as "be
achieved" or maybe the negative of these terms or even comparable terminology. Inside this
document particular forward-looking statements are identified by simply words such as "guidance",
"plan", "planned", "estimated", "projections", "projected" and "expected". By Simply their own
extremely nature forward-looking statements involve known and unknown risks, uncertainties and
other elements which may trigger the real results, performance or achievements of the Organization
to become materially various coming from just about any future results, performance as well as
achievements expressed or even implied from the forward-looking statements. Such elements
include, among others, risks associated in order to real results regarding current exploration
activities; modifications in project parameters as plans carry on to be refined; long term rates
associated with mineral resources; possible variations throughout ore reserves, grade or even
recovery rates; accidents; reliance on crucial personnel;
labour pool constraints; labour disputes; accessibility to infrastructure needed for that progression
of mining projects; delays within obtaining governmental approvals as well as financing or in the
completion of development or perhaps construction activities; counterparty risks related using sales
of our own metals; alterations in general economic conditions; increased operating as well as money
costs; operating in foreign jurisdictions with risk of changes for you to governmental regulation;
impact associated with climatic conditions
on our Pinto Valley, Cozamin along with Minto operations; escalating power prices; our capability to
integrate new acquisitions directly into our operations, as well as other risks in the mining business
also as these factors detailed via time for a person personally to occasion within the Company's
6. interim along with annual monetary statements as well as management's dialogue as well as analysis
associated with individuals statements, just about all involving that are filed as well as available for
review on SEDAR at http://www.sedar.com. Although the actual Business features attempted to
identify key elements that will could trigger actual actions, events or results for you to differ
materially coming from those described inside forward-looking statements, there might end up being
additional circumstances which trigger actions, events or even results not to become as anticipated,
estimated as well as intended. Presently there can be zero assurance which forward-looking
statements will prove being accurate, as real outcomes along with long term events could differ
materially through individuals anticipated in these statements. Accordingly, viewers must not place
undue reliance upon forward seeking statements.
National Instrument 43-101 Compliance
The technical details on this news release ("Technical Information") was prepared by, or perhaps
beneath your supervision of, a new qualified person (a "Qualified Person") as defined in National
Instrument 43-101 Standards regarding Disclosure with regard to Mineral projects with the
Canadian Securities Administrators ("NI 43-101"). Your disclosure with the Technical Details
contained on this news launch continues to always be able to be reviewed and also approved by Brad
Skeeles, P. Eng., Vice President of North American Operations (Technical Info associated in order to
mining as well as production) as well as Gregg Bush, P. Eng., Senior Vice President and also Chief
Operating Officer, both Qualified Individuals below NI 43-101.
Alternative Performance Measures
The product marked together with (1) "C1 cash Price for each Pound of Payable Copper Produced" is
surely an Alternative Performance Measure. This performance measure is protected since this
statistic can end up being a key performance measure that management utilizes to observe
performance. Management utilizes this statistic to assess how a Organization is actually performing
for you to program and furthermore to assess the overall effectiveness and efficiency of mining
operations. This kind of performance measure doesn't use a meaning inside IFRS and, therefore,
amounts presented is probably not comparable in order to comparable information offered by other
mining companies. This particular performance measure should not necessarily be considered in
isolation like a alternative to measures of performance in accordance together with IFRS.
Cindy Burnett, VP, Investor Relations and also Communications, +1-604-637-8157,
cburnett@capstonemining.com
SOURCE Capstone Mining Corp.
