Capstone back in the black on lower sales
Alderan unlocking Frisco potential
SPONSOREDalderan resources
Total 2018 revenue was $415.9 million, 3% lower year-on-year compared against revenue of $420.4 million in 2017.
The company said it met guidance with output of 155.2Mlb copper, despite the number being 5% lower year-on year, at 3% higher C1 cash costs of $1.83/lb of payable metal.
Alderan unlocking Frisco potential
SPONSOREDalderan resources
Both the Pinto Valley and Cozamin operations in Mexico reported higher production in the fourth quarter, which helped rein in higher costs.
Capstone said it had reduced debt from $158.7 million in 2017 and $198.6 million in 2016, to $150.1 million.
For 2019, Capstone has guided for 115-125Mlb copper from the Pinto Valley mine and between 30-35Mlb from Cozamin. C1 cash costs at Pinto Valley will be $2.10-$2.25/lb and at Cozamin $0.90-$1.05/lb.
Capstone placed its only Canadian project, Minto in the Yukon Territory, on care and maintenance late last year when talks to sell the property fell through.
The miner is down 60% in the past 12 months but added 1.79% or C1c Wednesday in Toronto to close at 57c, which capitalises it at $227.76 million.