Capstone Highlights Production and Sales for the Four Months Ended December 31, 2007
January 10 2008 - 7:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX: CS) changed its fiscal year
end from August 31 to December 31 and will be filing its audited
four month stub period ending December 31, 2007 in March 2008.
Capstone will not be reporting quarterly financials as at November
30, 2007. Therefore, Capstone is pleased to report production and
sales results for the four months ended December 31, 2007 from its
Cozamin mine located in Zacatecas State, Mexico.
With the expansion from 1,000 tpd to 2,200 tpd completed, the
Cozamin mine produced 260,378 tonnes during the four months ended
December 31, 2007 compared with 461,933 for the entire fiscal year
ended August 31, 2007. On an annualized basis this would result in
780,000 tonnes being produced (a target we expect to meet or
exceed), a 69% increase over the previous year. Copper production
during the four months ended December 31, 2007 was 9 million lbs
compared with 13.9 million lbs for the entire fiscal year ended
August 31, 2007. On an annualized basis this would result in 27
million lbs of copper being produced, a 94% increase over the
previous year.
See table below for summarized results.
PRODUCTION AND SALES FOR THE FOUR MONTHS ENDED DECEMBER 31, 2007
With comparative of previous fiscal year ended August 31, 2007
(all figures unaudited, unless noted)
--------------------------------------------------------------------------
Sept '06
Total to Aug '07
Sept '07 Oct '07 Nov '07 Dec '07 4 months (audited)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Milled tonnes 59,300 63,573 71,335 66,170 260,378 461,933
--------------------------------------------------------------------------
Copper Produced (lbs) 2.0M 1.9M 2.3M 2.8M 9.0M 13.9M
--------------------------------------------------------------------------
Copper Sales (lbs) 2.8M 3.2M 1.3M 1.3M 8.6M 11.8M
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Zinc Produced (lbs) 0.6M 0.7M 0.7M 0.5M 2.5M 6.8M
--------------------------------------------------------------------------
Zinc Sales (lbs) 1.4M Nil Nil Nil 1.4M 5.0M
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Lead Produced (lbs) 0.3M 0.4M 0.5M 0.4M 1.6M 3.0M
--------------------------------------------------------------------------
Lead Sales (lbs) 0.6M Nil Nil 0.9M 1.5M 2.8M
--------------------------------------------------------------------------
Note: Audited results for the 4 months ended December 31, 2007 will be
reported in March 2008.
NORMAL COURSE ISSUER BID
Further to the news releases dated July 12, 2007 and October 11,
2007 Capstone has purchased an additional 815,500 common shares at
an average price of $2.76 per share. The shares have been returned
to the transfer agent and subsequently cancelled. Capstone has
81,442,515 shares outstanding after the cancellation of the above
share purchases.
ABOUT CAPSTONE
Capstone is a Canadian based mining company currently operating
the 100% owned Cozamin copper-silver-lead-zinc mine located in
Zacatecas State, Mexico. Capstone has approximately 81.4 million
shares outstanding and is well financed with no bank debt. More
information is available online at: www.capstonemining.com.
This press release contains "forward-looking information" that
is based on Capstone's current expectations, estimates, forecasts
and projections. Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause
Capstone's actual results, level of activity, performance or
achievements to be materially different from those expressed or
implied by such forward-looking information. Such factors include,
but are not limited to: projected sales or production rates;
uncertainties related to drilling results; the ability to raise
sufficient capital to fund exploration; changes in economic
conditions or financial markets; changes in prices for costs;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; technological
or operational difficulties or inability to obtain permits
encountered in connection with exploration activities; and labor
relations matters.
This list is not exhaustive of the factors that may affect our
forward- looking information. These and other factors should be
considered carefully and readers should not place undue reliance on
such forward-looking information. Capstone disclaims any intention
or obligation to update or revise forward-looking information,
whether as a result of new information, future events or
otherwise.
Contacts: Capstone Mining Corp. Chris Tomanik (604) 684-8894
Email: ctomanik@capstonemining.com Capstone Mining Corp. Mark
Patchett (604) 684-8894 (604) 688-2180 (FAX) Email:
mpatchett@capstonemining.com Website: www.capstonemining.com
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