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Capstone Mining Announces Updated Santo Domingo Feasibility Study – Building a World Class District in Chile
(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia / Jul 31, 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 / Jul 31, 2024 / Business Wire / Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) (ASX:CSC) today announced the results of an updated feasibility study (“FS”) for its 100%-owned, fully-permitted Santo Domingo copper-iron-gold project (“Santo Domingo” or the “Project”) in Region III, Chile, located 35 kilometres northeast of its 70%-owned Mantoverde mine. “The release of the updated feasibility study for our Santo Domingo Project marks a major step towards the creation of a world-class district in the Atacama region of Chile. We have optimized the mine plan, updated the capital and operating cost estimates, and incorporated all experience gained throughout the engineering and construction of our nearby Mantoverde Development Project”, John MacKenzie, Capstone’s Chief Executive Officer, commented. “The 2024 feasibility study significantly enhances the mine’s economics backed by low capital intensity and first quartile costs. A construction decision and the integration of Santo Domingo represents the next phase of our transformational growth as we become a leading long-life and low-cost producer of critical metals essential for the world’s decarbonization efforts. We now intend to progress with the assessment of the optimal financing structure for the project, which may include bringing in a minority partner at the project level. In parallel we will also continue to advance the detailed engineering on the project. Our team is committed to pursuing the highest standards in safety and environmental management as well as continued engagement with all stakeholders as we progress our growth plans.” 2024 SANTO DOMINGO FEASIBILITY STUDY SUMMARY The 2024 FS outlines a robust copper-iron-gold project with an after-tax net present value at an 8% discount rate (“NPV8%”) of $1.7 billion and an after-tax internal rate of return (“IRR”) of 24.1% Over the first seven years of the mine plan, production is expected to average 106,000 tonnes of copper and 3.7 million tonnes of iron concentrate at first quartile cash costs of $0.28 per payable pound of copper produced Over the Project’s 19-year mine life, production is expected to average 68,000 tonnes of copper and 3.6 million tonnes of iron concentrate at first quartile cash costs of $0.33 per payable pound of c...