Capstone Releases 2019 Results, Beats 2019 Cost Guidance
Capstone produced 153.4 million pounds of copper in 2019, including 35.4 million pounds in the fourth quarter.
Capstone Mining (TSX:CS) has released its production and financial results for Q4 2019 and year ended December 31, 2019.
According to the company, copper production for 2019 totaled 153.4 million pounds of copper at consolidated C1 cash costs of $1.78 per pound, while its Q4 production was 35.4 million pounds of copper at a C1 cash cost of $1.97.
As quoted in the press release, president and CEO of Capstone, Darren Pylot said:
“We are pleased to announce that we finished 2019 above the mid-range on production guidance and below the bottom end of the guidance range on cash costs.
Our two operations have near-term growth that combined will lead to a 20 percent boost to production and a 10 percent reduction in costs by 2021, but we are not stopping there.
Today we are announcing a PV3 Optimization Study at Pinto Valley that will look at a number of low capital, quick payback projects aimed at de-bottlenecking various areas of the operation to enhance overall performance at Pinto Valley.
The previously announced $15 million secondary crushers and ball mill shells replacement, scheduled in 2020, will be the first of many expected projects that collectively will de-bottleneck the operation.
Overall, we believe there is room to push copper production significantly higher and costs lower at Pinto Valley.”
Click here to read the full Capstone Mining (TSX:CS) press release.
