Business
Capstone Mining 2013 First Quarter Financial Results Demonstrate Solid Progress and Growth
Operating Cash Flow of $20.1 million, Net Earnings of $6.9 million or $0.02 per share (All a...
About this update from Capstone Copper Corp.
[{"type":"text","content":"\n\n\n\n\n\nOperating Cash Flow of $20.1 million, Net Earnings of $6.9 million or\n $0.02 per share\n(All amounts in US$ unless otherwise specified)\n\n\nVANCOUVER, May 7, 2013 /CNW/ - Capstone Mining Corp. (\"Capstone\") (TSX:\n CS) today announced its financial results for the three months ended\n March 31, 2013. Net earnings for the quarter were $6.9 million and\n operating cash flow before changes in working capital(1) was $20.1 million. Capstone ended the quarter with cash on hand of\n $485.4 million, a $200 million credit facility and no long-term debt.\n Copper production for the quarter at Capstone's two operating mines,\n Cozamin and Minto, totalled 18.6 million pounds in concentrates (17.9\n million pounds of payable copper) at a C1 cash cost(1) of $1.72 per payable pound of copper produced.\n\n\nCapstone will hold a conference call and webcast on Wednesday, May 8,\n 2013 at 11:30 am Eastern time (8:30 am Pacific time) to discuss these\n results; call-in details are provided at the end of this release. This release should be read in conjunction with Capstone's unaudited\n condensed interim consolidated financial statements and management's\n discussion and analysis (\"MD&A\") for the three months ended March 31,\n 2013, which are available on Capstone's website at: http://capstonemining.com/s/Financial_Statements.asp and on SEDAR. An updated corporate presentation, including results to\n March 31, 2013, will also be available at http://capstonemining.com/s/Presentation.asp.\n\n\n\n\nOverview\n\n\n \n\n\n \n\n\n\n\n  \n\n\nQ1 2013 \n\n\n Q1 2012\n\n\n\n\nRevenue ($ millions) \n\n\n57.7 \n\n\n 70.4\n\n\n\n\n  \n\n\n  \n\n\n  \n\n\n\n\nCopper in concentrates produced (million lbs) \n\n\n18.6 \n\n\n 18.6\n\n\n\n\n  \n\n\n  \n\n\n  \n\n\n\n\nPayable copper produced (million lbs) \n\n\n17.9 \n\n\n 17.9\n\n\n\n\nC1 cash cost per payable pound of copper produced(1) ($) \n\n\n1.72 \n\n\n 1.45\n\n\n\n\n  \n\n\n  \n\n\n  \n\n\n\n\nCopper sold (million lbs) \n\n\n15.1 \n\n\n 16.2\n\n\n\n\nRecognized copper price per pound ($) \n\n\n3.51 \n\n\n 4.02\n\n\n\n\n  \n\n\n  \n\n\n  \n\n\n\n\nNet ea...