Capstone Mining Produces 103,300 Tonnes in 2014

Capstone Mining (TSX:CS) released its production results for 2014 and for the fourth quarter of the year from its three operating mines. The company reported combined production of 103,300 tonnes of copper in concentrates and cathode. It expects to release its 2015 production guidance during the week of January 19 – 23.

As quoted in the press release, operational highlights included:

• Payable copper shipped for the quarter from all three mines was 23,751 tonnes.
• At Pinto Valley, throughput was 4% lower than planned for the quarter and grade was slightly lower than planned.
• At Cozamin, throughput remained strong, however grade was lower than planned. Ongoing ground support remediation activities delayed access to some of the higher grade areas of the mine.
• At Minto, the mine plan called for a lower fourth quarter as processing transitioned primarily to stockpiled ore, supplemented with underground material from the M-Zone through November and Area 118 underground where mining commenced in December. The mill will continue to process underground and stockpiled ore, with surface mining on hold until receipt of the required permits, expected in March.

Capstone president and CEO, Darren Pylot, said:

All three of our operating mines were within the range of their production guidance for 2014, and exited the year running at, or very close to, plan. Our primary focus continues to be on reducing costs and increasing mill reliability at our Pinto Valley operation and a review of maintenance operating systems is continuing.

Click here to read the Capstone Mining (TSX:CS) press release