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Pinto Valley mine owner reports $9.4 million loss

Posted: Wednesday, Feb 26th, 2014

Miami — Capstone Mining Corporation told stockholders on Thursday that it had a net loss of $9.4 million for the year 2013. The Canadian mining company which purchased the Pinto Valley Copper Mine west of Miami last October from BHP Billiton for $650 million said its operating cash flow before changes in working capital was $85.5 million. Capstone ended the year with cash on hand of $104 million.

Copper production for the year at Capstone’s three operating mines, Pinto Valley (82 days of ownership), and Cozamin and Minto (located in Mexico and Canada ), totalled 113.8 million pounds of copper in concentrates and cathode (109.6 million pounds of payable copper) at a cash cost of $1.72 per payable pound of copper produced.

For the complete article see the 02-26-2014 issue.

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