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Capstone Mining Third Quarter 2017 Financial Results
Oct. 27, 2017 09:15AM PST
Base Metals Investing
Capstone Mining Corp. (“Capstone” or the “Company”) (TSX: CS) today announced its financial results for the three and nine months ended September 30, 2017. Cash flow from operating activities before changes in working capital for the quarter was $41.4 million or $0.11 per share. Net income for the quarter was $20.2 million or $0.05 per share with an adjusted net loss of $11.4 million or $0.03 per share …
Capstone Mining Corp. (“Capstone” or the “Company”) (TSX: CS) today announced its financial results for the three and nine months ended September 30, 2017. Cash flow from operating activities before changes in working capital for the quarter was $41.4 million or $0.11 per share. Net income for the quarter was $20.2 million or $0.05 per share with an adjusted net loss of $11.4 million or $0.03 per share after adjusting for certain non-cash and non-recurring charges. Copper production for the quarter totalled 22,026 tonnes (21,261 tonnes of payable copper) at a C1 cash cost1 of $2.00 per payable pound produced with copper sales for the quarter of 22,988 tonnes at a C1 cash cost1 of $2.02 per payable pound sold.
As quoted in the press release:
“In the third quarter of 2017 we generated $41 million of operating cash flow,” said Darren Pylot, President and CEO of Capstone. “Subsequent to quarter end, we continued our debt reduction program and repaid $14 million, bringing our total debt reduction for the year to over $40 million.”
