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Gold/Mining/Energy : Capstone Mining Corp

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From: MoneyCooper	11/9/2014 10:27:28 AM
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Q3/14 Cash Costs In line; EPS Miss on Lower Realized Copper Some recent news from analyst Daniel Earle: Capstone reported Q3/14 financial results yesterday evening following the pre-release of production results on October 7 Daniel Earle estimated adjusted EPS of $0.03, below both TD at $0.05 and consensus of $0.06; the miss was due to a lower realized copper price and slightly higher treatment and selling costs versus Daniel Earle's estimates CFPS of $0.15 was in line with both TD and consensus of $0.15 Copper production from the Cozamin, Pinto Valley and Minto mines totaled 26.2 kt at net cash costs of $1.84/lb in Q3/14; net cash costs were slightly lower than Daniel Earle's estimate of $1.89/lb due to lower unit costs at Minto Guidance for 2014 remains unchanged at approximately 102 kt of copper at net cash costs of $1.90-$2.00/lb The impact has been neutral. Pinto Valley produced 15,819 tonnes of copper in concentrates and 650 tonnes of copper cathode at cash costs of $1.90/lb, in line with Daniel Earle's estimate of $1.89/lb. As a reminder, on September 5 Capstone announced the launch of $300mm of Senior Notes maturing in 2022, to repay its two existing credit facilities, however due to weak general market conditions for debt financing, the company discontinued the effort.

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