Capstone Receives US$3.25 Million From Advance Payment on Copper Concentrate Sales
Thursday October 5, 1:17 pm ET
ca.us.biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2006) - CAPSTONE MINING (TSX:CS - News) is pleased to report its first copper concentrate advance payment and an update from its Cozamin copper-silver-zinc mine located in Zacatecas State, Mexico.
Highlights
- Capstone has received an 80% advance of US$3.25 million on 2,696 tons of copper concentrate grading 25% copper (1.5 million lbs of copper)
- 52,000 ounces of silver is included in the copper concentrate
- As of September 30, 2006 the following saleable concentrates have been produced and are currently stored as inventory at the mine site
- 3,360 tons of copper grading 25% (1,851,360 lbs)
- 1,521 tons of zinc grading 48% (1,575,573 lbs)
- 443 tons of lead grading 65% (634,642 lbs)
- 109,550 ounces of silver contained in concentrates
- Total cash on hand has increased to US$21 million
Concentrate sales
Copper concentrates will be shipped in 5,000 wet metric tonne ("wmt") lots with expected first shipment by mid November 2006. Zinc concentrates will be shipped in 1,000 wmt lots and lead concentrates will be shipped in 300 wmt lots with expected first shipments by mid October 2006 as these lot sizes have been achieved.
Cozamin Plant
During the month of September the mill operated at full capacity and averaged a rate of 1,000 tpd. Total throughput for the month of September was 30,500 tons. Concentrate production included 1,307 tons of copper concentrate grading 25% copper, 700 tons of zinc concentrate grading 48% zinc, and 205 tons of lead concentrate grading 65% lead. Recoveries for copper were 82%, zinc 58%, lead 70% and silver 72%. The average head grade for the mill tonnage was 1.3% copper, 0.6% lead, 1.9% zinc and 68.0 g/t silver.
ABOUT CAPSTONE
Capstone is a Canadian based mining company currently operating the Cozamin copper-silver-zinc mine located in Zacatecas State, Mexico. Capstone has approximately 80.5 million shares outstanding and is well financed with no debt. More information is available online at: www.capstonemining.com.
Contact:
Chris Tomanik
Capstone Mining Corp.
(604) 684-8894
(604) 688-2180 (FAX)
Email: ctomanik@capstonemining.com
Website: www.capstonemining.com
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Source: Capstone Mining Corp. |
