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Capstone Copper Provides 2024 Guidance and Announces 2023 Production Results
All amounts in US$ unless otherwise indicated VANCOUVER, British Columbia / Jan 24, 2024 / Business Wire / Capstone Copper Corp. (“Capstone” or the “Company”) (
About this update from Capstone Copper Corp.
[{"type":"text","content":"All amounts in US$ unless otherwise indicated VANCOUVER, British Columbia / Jan 24, 2024 / Business Wire / Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) today announced consolidated copper production for 2023 and provided operations and capital expenditure guidance for 2024. 2023 Consolidated Copper Production and Costs Highlights Capstone achieved its production guidance1 for the year ended December 31, 2023. Consolidated copper production was 164,353 tonnes at C1 cash costs2,3 of approximately $2.85 to $2.90 per payable pound of copper. For Q4 2023, consolidated copper production was 44,103 tonnes at C1 cash costs2,3 of approximately $2.65 to $2.70 per payable pound of copper. John MacKenzie, CEO of Capstone, commented, “The fourth quarter was our best of the year, with consolidated production up 10% and cash costs down approximately 7% quarter-over-quarter, setting us up well for a strong 2024. We expect this year to be a tale of two halves, with H2 providing a glimpse of our new run-rate production and cost performance following the ramp-up of the Mantoverde Development Project (“MVDP”). In the first half of 2024, in addition to the ramp-up at MVDP, we will also be focused on maintaining consistently strong production at Pinto Valley and achieving the installed throughput capacity at Mantos Blancos.” 1 Production guidance as most recently disclosed in the Company’s Management Discussion and Analysis for the three and nine months ended September 30, 2023. 2 These are alternative performance measures. Refer to the section entitled “Alternative Performance Measures” in the Cautionary Notes. 3 Full year 2023 and Q4 2023 C1 Cash Costs are preliminary and unaudited. Final results will be released on February 22, 2024. Summary of 2023 copper production: Q4 2023 Copper Production (tonnes) Full Year 2023 Copper Production (tonnes) Sulphides Business Pinto Valley 15,933 55,090 Cozamin 6,564 24,340 Mantos Blancos 9,664 38,002 Total Sulphides 32,161 117,432 Cathode Business Mantoverde4 10,019 35,401 Mantos Blancos 1,923 11,520 Total Cathodes 11,942 46,921 Consolidated Copper Production 44,103 164,353 Table footnotes: 4 Mantoverde production shown on a 100% basis. 2024 Production and Costs Guidance Capstone first half (H1), second half (H2) 2024, ...