Cap­stone Min­ing pro­duces 22,000 t Cu in Q3

Cap­stone Min­ing Corp. pro­duced 22,000 tonnes of cop­per in the third quar­ter of 2017. The com­pany ex­pects to reach the low end of its pro­duc­tion guid­ance range of 94,000 tonnes of cop­per.

Stockwatch Daily - - FRONT PAGE - Mr. Dar­ren Py­lot re­ports

CAP­STONE MIN­ING Corp. has re­leased pro­duc­tion re­sults for the three and nine months ended Sept. 30, 2017. Com­bined pro­duc­tion to­talled 22,000 and 67,000 tonnes of cop­per in the third quar­ter and year-to-date pe­ri­ods, re­spec­tively, with ad­di­tional byprod­ucts of zinc, molyb­de­num, lead, sil­ver and gold.

(See CS Ta­ble 1 on page 7)

“Coza­min once again out­per­formed in the third quar­ter, par­tially off­set­ting lower pro­duc­tion at Pinto Val­ley and Minto,” said Dar­ren Py­lot, pres­i­dent and chief ex­ec­u­tive of­fi­cer of Cap­stone. “As we en­ter the fourth quar­ter, all op­er­a­tions are on track and we ex­pect to achieve the low end of our guided pro­duc­tion range for the year.”

Oper­a­tional high­lights:

• At Pinto Val­ley, pro­duc­tion was be­low ex­pec­ta­tions due to through­put dis­rup­tions caused by elec­tri­cal out­ages in Au­gust and a sec­ond one in Septem­ber. Re­me­di­a­tion work on the af­fected cir­cuit will be com­pleted in Oc­to­ber; how­ever, the plant is op­er­at­ing nor­mally on a tem­po­rary re­pair. Ad­di­tion­ally, fo­cus in the quar­ter shifted from through­put max­i­miza­tion to over­all mill op­ti­miza­tion.

• Cop­per pro­duc­tion at Coza­min ex­ceeded ex­pec­ta­tions, driven by higher through­put. Mine devel­op­ment con­tin­ues to ad­vance ahead of sched­ule, in­creas­ing pro­duc­tion flex­i­bil­ity at the op­er­a­tion.

• At Minto, pro­duc­tion for the quar­ter con­tin­ued to be im­pacted by mine se­quenc­ing changes to sup­port the pre­vi­ously an­nounced mine life ex­ten­sion. Un­der­ground min­ing was halted for six weeks in or­der to up­grade the emer­gency re­sponse ca­pac­ity in the

cur­rent stop­ing ar­eas while devel­op­ment to the Minto East de­posit con­tin­ued. Par­tially ox­i­dized ore from the Area 2, Stage 3 open-pit and low-grade stock­piles sup­ple­mented the mill feed dur­ing the quar­ter to off­set the re­sult­ing un­der­ground ore short­fall, caus­ing lower head grade and re­cov­er­ies than orig­i­nally planned. Op­er­at­ing out­look Cap­stone ex­pects to reach the low end of the range of 2017 con­sol­i­dated pro­duc­tion guid­ance of 94,000 tonnes (plus or mi­nus 5 per cent) of cop­per.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Ge­orge Les­lie Brack, Robert Joseph Gal­lagher, Jill Veron­ica Gar­diner, Soon Jin Kwon, Kal­i­das V Mad­havpeddi, Dale Can­field Pe­niuk, Dar­ren Murvin Py­lot, Richard Nor­man Zim­mer

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