Capstone Mining Corp. (TSX:CS) announced its financial results for the three and six months ended June 30, 2014, commenting that during Q2 its operating cash flow before changes in working capital came to a record $56.5 million. Meanwhile, net earnings came in at $16.6 million.
Other financial and production highlights include:
- Net earnings of $16.6 million or $0.04 per common share which included:
- Earnings from mining operations of $45.5 million,
- Realized copper price of $3.36 per pound.
- Production costs included a $1.8 million non-cash charge related to the write-down of inventory at Minto,
- $15.2 million tax expense.
- Adjusted EBITDA of $64.8 million or $0.17 per common share after making adjustments for certain non-cash and other items.
- Operating cash flow before changes in working capital of $56.5 million or $0.15 per common share.
- Working capital increased to $162.8 million at June 30, 2014 (which included $128.5 million of cash and cash equivalents) from $137.4 million at December 31, 2013.
- Production of 26,785 tonnes of payable copper at a C1 cash cost of $2.03 per pound of payable copper produced.
- Revenue of $171.7 million generated primarily from the sale of 24,563 tonnes of payable copper.
|Copper Fox Metals Inc. (TSXV:CUU) added approximately 1.8 billion pounds of copper as well as 140,000 ounces of gold contained within the Inferred resource category to its metal holdings. Connect with this company that’s on the move!Learn More|