Capstone Copper Corp T.CS

Alternate Symbol(s): CSCCF

Metals & Mining Copper

Capstone Copper Corp. is a copper producer operating in the Americas. It is engaged in the production of and exploration of base metals in the United States (US), Mexico, and Chile, with a focus on copper. The Company, through a wholly owned Chilean subsidiary, Mantos Copper S.A., owns and operates the Mantos Blancos mine, located 45 kilometers (km) northeast of Antofagasta, Chile and the 70%-owned Mantoverde mine, through a subsidiary, Mantoverde S.A., located 50 km southeast of Chanaral, Chile. It owns and operates the Pinto Valley mine located in Arizona, US, Cozamin mine located in Zacatecas, Mexico, and has a portfolio of exploration properties in Mexico. It also holds the fully permitted Santo Domingo copper-iron-gold-cobalt development project in the Atacama region of Chile, 35km northeast of Mantoverde. Through Compania Minera Sierra Norte S.A., it owns 100% of Sierra Norte, an iron oxide copper gold deposit located in Chile's Atacama Region, that spans over 7,000 hectares.

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Capstone Copper Corp

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Post by retiredcfon Jun 28, 2024 10:54am

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Post# 36110700

RBC

Have been on the road so just catching up. GLTA

June 25, 2024

Capstone Copper Corp.
First saleable concentrate produced at MVDP as guided

TSX: CS | CAD 9.33 | Outperform | Price Target CAD 14.00

Sentiment: Positive

Our view: We expect a positive reaction from Capstone shares to the announcement of first saleable copper concentrate from the Mantoverde Development Project (MVDP), in line with guidance reiterated by management last month, and it is a significant milestone in the ramp-up to full production later this year. Management noted that MVDP remains on track and on budget and reiterated H2/2024 copper production guidance of 25-35kt and their expectation to achieve nameplate operating rates, targeted recoveries, and targeted concentrate grades during Q3/24.

MVDP is the key to Capstone's near-term growth and when optimized, the mine could produce ~120kt/year which could take Capstone's total copper production to nearly 300kt/year from 164kt in 2023. The mine represents 37% of our NAVPS estimate for Capstone of C$11.44.
Capstone believes optimizing MV with an additional $150M of capex can take throughput up to 45ktpd and add an incremental 25-35kt of Cu and 10koz of gold per year. The company plans to release a feasibility study for the MV Optimized project by mid-year.
We also expect an updated feasibility study for the Santo Domingo project located 35km away from Mantoverde any time now.