Capstone Mining Third Quarter 2018 Financial Results

Capstone Mining (TSX:CS) announced its financial results for the three and nine months ended September 30, 2018.

According to the release, cash flow from operating activities for the quarter was US$15.3 million or US$0.04 per share and uS$76.9 million or US$0.20 per share year-to-date. Net income from continuing operations for the quarter was US$4.1 million or US$0.01 per share. Copper production for the quarter from continuing operations totalled 18,600 tonnes (17,900 tonnes of payable copper) at a C1 cash cost from continuing operations of US$1.85 per payable pound produced.

During the quarter the Minto mine in Yukon was placed into care and maintenance after a sale agreement fell through.

President and CEO of Capstone, Darren Pylot said:

“Our mines performed as expected in the third quarter and we have seen an upward trend in production as we move through 2018.

“At Pinto Valley, we are starting to see results from the various optimization activities underway through increasing plant availability. Copper production at Cozamin for the quarter was higher than projected and quarterly zinc production was the highest in over five years. We remain on track to meet our full year consolidated copper production guidance from continuing operations.”

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