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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (32173)	2/4/2009 1:04:40 PM
From: LoneClone	Respond to of 193970

Capstone brings mine expansions online, expects to increase production in 2009 Wed Feb 4, 11:00 AM The Canadian Press ca.news.finance.yahoo.com By The Canadian Press VANCOUVER, B.C. - Capstone Mining Corp. (TSX: CS.TO) said Wednesday its Minto and Cozamin mines in Canada and Mexico, respectively, produced 74.1 million pounds of copper in 2008. The company didn't provide comparable results for 2007, but called 2008's copper production a "record." The miner said that it achieved commercial production at the most recent expansions of Minto and Cozamin at the beginning of 2009 and expects production this year to increase as a result. Capstone said it expects to produce between 95 million and 105 million pounds of copper this year at a cash cost of approximately US$1 per pound. Of this production, approximately 60 per cent is projected to come from the Minto mine and 40 per cent from the Cozamin mine. "With the expansions complete, we are now focused on fully optimizing the output and production costs of both operations, with the objective of maximizing profitability," stated Darren Pylot, vice-chairman and chief executive of Capstone. "We aim to continue our organic growth, which has already seen two successful expansions at each of our mines in a short period of time, supported by strong resource increases, as well as look at external growth opportunities, backed by low-cost production and a robust hedge book," added president and chief operating officer Stephen Quin. Capstone shares were up five cents to $1.16 in Wednesday morning trading on the Toronto Stock Exchange.