Vancouver, British Columbia – Capstone Mining Corp. (“Capstone”) (TSX: CS) today announced its financial results for the three and six months ended June 30, 2017. Cash flow from operating activities for the quarter was $4.1 million or $0.01 per share and cash flow from operating activities before changes in working capital for the quarter was $26.0 million or $0.07 per share. The net income for the quarter was $12.8 million or $0.03 per share and adjusted net income was $0.7 million or break-even on a per share basis after adjusting for certain non-cash and non-recurring charges. Copper production for the quarter totalled 24,002 tonnes (23,176 tonnes of payable copper) at a C1 cash cost1 of $1.75 per payable pound produced with copper sales for the quarter of 20,771 tonnes at a C1 cash cost1 of $1.74 per payable pound sold.
“Operational performance in the second quarter was on plan, with costs trending down from the first quarter,” said Darren Pylot, President and CEO of Capstone. “Most importantly, Pinto Valley returned to full production, setting quarterly and monthly throughput records.”
“For the second half of the year, approximately half of our production is unhedged and completely unhedged in 2018 and beyond,” continued Mr. Pylot.