This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Capstone Mining 2013 First Quarter Financial Results Demonstrate Solid Progress And Growth

VANCOUVER, British Columbia, May 8, 2013 /PRNewswire/ --

-- Operating Cash Flow of $20.1 million, Net Earnings of $6.9 million or $0.02 per share (All amounts in US$ unless otherwise specified)

Capstone Mining Corp. ("Capstone") (TSX: CS) today announced its financial results for the three months ended March 31, 2013. Net earnings for the quarter were $6.9 million and operating cash flow before changes in working capital (1) was $20.1 million. Capstone ended the quarter with cash on hand of $485.4 million, a $200 million credit facility and no long-term debt. Copper production for the quarter at Capstone's two operating mines, Cozamin and Minto, totalled 18.6 million pounds in concentrates (17.9 million pounds of payable copper) at a C1 cash cost (1) of $1.72 per payable pound of copper produced.

Capstone will hold a conference call and webcast on Wednesday, May 8, 2013 at 11:30 am Eastern time ( 8:30 am Pacific time) to discuss these results; call-in details are provided at the end of this release. This release should be read in conjunction with Capstone's unaudited condensed interim consolidated financial statements and management's discussion and analysis ("MD&A") for the three months ended March 31, 2013, which are available on Capstone's website at: and on SEDAR. An updated corporate presentation, including results to March 31, 2013, will also be available at
                                                               Q1 2013 Q1 2012
    Revenue ($ millions)                                        57.7    70.4

    Copper in concentrates produced (million lbs)               18.6    18.6

    Payable copper produced (million lbs)                       17.9    17.9
    C1 cash cost per payable pound of copper produced(1) ($)    1.72    1.45

    Copper sold (million lbs)                                   15.1    16.2
    Recognized copper price per pound ($)                       3.51    4.02

    Net earnings ($ millions)                                    6.9    15.7
    Net earnings per common share ($)                           0.02    0.04

    Adjusted net earnings(1) ($ millions)                        6.1    22.3
    Adjusted net earnings(1) per common share ($)               0.02    0.06

    Operating cash flow before changes in working capital(1)
    ($ millions)                                                20.1    28.7
    Operating cash flow before changes in working capital per
    common share(1) ($)                                         0.05    0.08

    Cash and cash equivalents ($ millions)                      485.4   501.7

(1) These are alternative performance measures; please see "Alternative Performance Measures" at the end of this release.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs