Capstone Mining today announced its financial results for the quarter ended March 31, 2018.
Capstone Mining (TSX:CS) today announced its financial results for the quarter ended March 31, 2018.
According to a Tuesday press release, operating cash flow before changes in working capital from all operations was US$24.6 million or US$0.06 per share, with net income from continuing operations of US$10.3 million and adjusted net income from continuing operations of US$10.6 million or US$0.03 per share after adjusting for certain non-cash and non-recurring charges.
Copper production from continuing operations totalled 15,706 tonnes (15,152 tonnes of payable copper) at a C1 cash cost from continuing operations of $1.95 per payable pound produced.
As quoted in the press release:
President and chief executive officer of Capstone Darren Pylot said “Capstone reported positive net income and cash flow in the first quarter of 2018, on contributions from both Pinto Valley (Arizona, US) and Cozamin (Zacatecas, Mexico). We also announced the sale of our Minto Mine (Yukon, Canada) for US$37.5 million of cash plus working capital.”
“Additionally, we updated our 2018 guidance to reflect the decision to mine the San Rafael Zinc Zone, which is expected to significantly increase our by-product revenue at Cozamin.”