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Capstone Copper outlines 2022 guidance

Recently created firm Capstone Copper is aiming for consolidated copper production of 136,000-150,000 tonnes for the nine months from April-December of this year while it pushes ahead with plans of ramping up to 260,000t per year by 2024.
Capstone Copper outlines 2022 guidance Capstone Copper outlines 2022 guidance Capstone Copper outlines 2022 guidance Capstone Copper outlines 2022 guidance Capstone Copper outlines 2022 guidance

Capstone Mining Map for Chile

"This is a transformational year for Capstone as we ramp-up our new Mantos Blancos mill, construct the Mantoverde sulphides project and deliver a District Integration Plan for Santo Domingo with Mantoverde," Capstone Copper's CEO John Mackenzie said.

Production levels from 2021 showed that the company would have had a copper production base of over 175,000t for that year.

Capstone Copper was created following a merger between Capstone Mining and Mantos Copper which was completed in March.

The company also announced C1 cash costs guidance for the nine-months of US$2.55-$2.70 per pound of copper.

In Q1, the company's copper production was 22,500t with C1 cash costs of $2.31 per lb. Capstone's adjusted net income for the period was C$61.1 million, or C$0.14 per share.

The company's share price rose by 4% day on day on May 15 to C$4.64 (US$3.58). The company has a market capitalization of C$3.2 billion.