The Conversation (0)
Capstone Mining Corp. (TSX:CS) announced its 2015 production and capex guidance, noting that it plans to put out 90,000 tonnes of copper in concentrates and cathode from its three mines. That amount is plus or minus 5 percent. c
Capstone Mining Corp. (TSX:CS) announced its 2015 production and capex guidance, noting that it plans to put out 90,000 tonnes of copper in concentrates and cathode from its three mines. That amount is plus or minus 5 percent.
Production should come at a C1 cash cost of $2 to $2.10 per pound of payable copper produced.
Darren Pylot, president and CEO of Capstone, commented:
In light of the current copper markets we have developed our 2015 budget in a manner that maintains our financial flexibility, preserves the value of our development projects and maximizes our existing operations. We have put a flexible financing structure in place and have developed a capital plan that will allow us to quickly adjust our spending if required.
Within our capital budget, we have flagged $36 million of capital that may be deferred or cancelled should ongoing low copper prices persist. Our current cash balance and available credit facilities, along with tightly managed capital spending, will allow us to weather the volatility in the copper market well into the foreseeable future.
Click here to read the full Capstone Mining Corp. (TSX:CS) press release.