Capstone Announces Production and Sales for the Fihttps://www.marketwire.com/mw/release.do?id=844417
Apr 16, 2008 08:01 ET
Capstone Announces Production and Sales for the First Quarter of 2008
VANCOUVER, BRITISHCOLUMBIA--(Marketwire - April 16, 2008) - Capstone Mining Corp.("Capstone") (TSX:CS) is pleased to report production and sales resultsfor the first quarter of 2008 from its Cozamin mine located inZacatecas State, Mexico. With the expansion from 2,200 tpd to 3,000 tpdunderway, the Cozamin mine produced 202,656 tonnes during the firstquarter of 2008.
Summarized results are shown below; there are no comparatives due to the change in year end to December 31.
OPERATING AND SALES RESULTS
(all figures unaudited)
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Total
Q1-2008
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Ore milled (tonnes) 202,656
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Copper production (lbs)(i) 6.0M
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Copper grade (%) 1.59
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Copper recovery (%) 84.2
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Copper sales (lbs) 6.9M
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Average Copper price(iii) $3.59
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Zinc production (lbs) 2.3M
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Zinc grade (%) 1.35
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Zinc recovery (%) 40.6
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Zinc sales (lbs)(ii) 0.7M
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Average Zinc price(iii) $1.21
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Lead production (lbs) 1.7M
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Lead grade (%) 0.65
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Lead recovery (%) 60.2
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Lead sales (lbs) 1.3M
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Average Lead price(iii) $1.33
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(i) Copper production was lower in February and March due to lower grade
material from the upper levels being fed through the mill as we are
currently preparing infrastructure in the lower high grade levels of
the mine due to the expansion.
(ii) 2M lbs of Zinc sold in April 2008.
(iii) Average prices used on provisional invoices during the quarter.
Note: First quarter financial results will be reported April 30, 2008.
ABOUT CAPSTONE
Capstone is a Canadian based mining company currently operating the100% owned Cozamin copper-silver-lead-zinc mine located in ZacatecasState, Mexico. Capstone has approximately 81.9 million sharesoutstanding and is well financed with no bank debt. More information isavailable online at:
www.capstonemining.com.
This press release contains "forward-looking information" that isbased on Capstone's current expectations, estimates, forecasts andprojections. Forward-looking information is subject to known andunknown risks, uncertainties and other factors that may causeCapstone's actual results, level of activity, performance orachievements to be materially different from those expressed or impliedby such forward-looking information. Such factors include, but are notlimited to: projected sales or production rates; uncertainties relatedto drilling results; the ability to raise sufficient capital to fundexploration; changes in economic conditions or financial markets;changes in prices for costs; litigation, legislative, environmental andother judicial, regulatory, political and competitive developments;technological or operational difficulties or inability to obtainpermits encountered in connection with exploration activities; andlabor relations matters.
This list is not exhaustive of the factors that may affect ourforward-looking information. These and other factors should beconsidered carefully and readers should not place undue reliance onsuch forward-looking information. Capstone disclaims any intention orobligation to update or revise forward-looking information, whether asa result of new information, future events or otherwise.