VANCOUVER, British Columbia, January 16, 2014 /PRNewswire/ --
Guidance for Cozamin and Minto, Development Projects and Exploration
(All amounts in US$ unless otherwise specified)
Capstone Mining Corp. ("Capstone") (TSX: CS) today provided its production and capital expenditure guidance for 2014 for two of its three operating mines, Cozamin and Minto, and its development and exploration projects. Capstone expects to produce 38,500 tonnes (±5%) of copper in concentrates from Cozamin and Minto, slightly higher than 2013 production of 37,500 tonnes."The mine plans at Cozamin and Minto in 2014 call for a similar production level to last year," said Darren Pylot, President and CEO of Capstone. "Our focus for 2014 will be on cost efficiencies at all of our operations, including Pinto Valley, for which guidance will be provided before the end of the first quarter." "On the development side, we are advancing the Santo Domingo Project under a stage-gate decision process, where we are continuing to move the project forward to each decision point. In 2014 we will advance the engineering and work towards the Environmental Impact Assessment approval by early 2015," continued Mr. Pylot. 2014 Production Guidance - Cozamin and Minto
Cozamin Minto Total Tonnes milled (millions) 1.2 1.4 2.6 Copper grade (%) 1.85 1.49 1.66 Copper recovery (%) 93.4 92.4 93.0 Production (contained in concentrates) Copper (tonnes) 20,000 18,500 38,500 Zinc (tonnes) 9,000 - 9,000 Lead (tonnes) 1,700 - 1,700 Silver (million ounces) 1.6 0.2 1.8 Gold (ounces) - 17,670 17,670 C1 cash costs per pound of payable copper produced net of by-product credits and selling costs[(1)] $1.30 -$1.40 $2.45 - $2.55 $1.85-$1.95(1) This is an alternative performance measure; please see "Alternative Performance Measure" at the end of this release. C1 cash cost per pound is per pound of payable copper produced. All amounts in US$ unless otherwise specified.
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