All amounts in US$ unless otherwise indicated Capstone Copper Corp. ('Capstone' or the 'Company') (TSX: CS) (ASX: CSC) today reported financial results for the nine months and quarter ended September
Capstone Copper Corp. today reported financial results for the nine months and quarter ended September 30, 2024 . Copper production in Q3 2024 totaled47,460 tonnes at C1 cash costs1 of $2.83 per payable pound of copper produced. Link HERE for Capstone's Q3 2024 webcast presentation.
In July, a successful two-week planned shutdown was completed which included the installation of a new holding tank and additional pumps in the tailings area in order to address deficiencies identified preventing the sustained achievement of the 20ktpd capacity from the sulphide operations. Following the plant ramp-up period in August, ore throughput averaged 18,062 tpd through to the end of Q3, with plant throughput meeting or exceeding the nameplate capacity of 20,000 tpd on 23 operating days.
Q3 2024 C1 cash costs1 were $1.82/lb, 2% lower than $1.85/lb in the same period last year, mainly due to higher production in Q3 2024 than the same period last year on higher grades, higher silver by-product volume and price , offset by higher operating costs mainly on contractors due to change in mine method and manpower for bonus profit sharing effect.MVDP achieved commercial production in September, and the mill continues to advance commissioning and ramp up to full production levels.
Given the above, the Mantoverde Phase II opportunity will evaluate the addition of an entire second processing line, possibly a duplication of the first line, to process some of the approximately 0.2 billion tonnes of Measured Indicated and 0.6 billion tonnes of Inferred sulphide resources not in reserves.Capstone announced the results of an updated Feasibility Study for its 100%-owned Santo Domingo copper-iron-gold project in Region III Chile, 35km northeast of Mantoverde on July 31, 2024.
During the quarter, Capstone acquired 100% of the shares of Compania Minera Sierra Norte, S.A. for $40 million in share consideration. Sierra Norte is located approximately 15 kilometers northwest of the Santo Domingo Project and represents an opportunity to potentially be a future sulphide feed source for Santo Domingo, extending the higher grade copper sulphide life.
In addition, commencing in Q4 2024, Daniel Sampieri, Director, Investor Relations Strategic Analysis, will lead the investor relations function as Jerrold Annett, former SVP Strategy Capital Markets, has retired from the Company. Capstone's Board and management would like to thank Jerrold for his five years of service and significant contributions to the Company.
Dial-in numbers for the audio-only portion of the conference call are below. Due to an increase in call volume, please dial-in at least five minutes prior to the call to ensure placement into the conference line on time.A replay of the conference call will be available until November 7, 2024. Dial-in numbers for Toronto: 1-289-819-1450 and North American toll free: 1-888-660-6345. The replay code is 11379#.
Disclosure Documents include the National Instrument 43-101 compliant technical reports titled"NI 43-101 Technical Report on the Cozamin Mine, Zacatecas, Mexico" effective January 1, 2023,"NI 43-101 Technical Report on the Pinto Valley Mine, Arizona, USA" effective March 31, 2021,"Santo Domingo Project, NI 43-101 Technical Report and Feasibility Study Update, Atacama Region, Chile" effective July 31, 2024, and"Mantos Blancos Mine NI 43-101 Technical Report...
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