VANCOUVER, British Columbia,
March 26, 2014 /PRNewswire/ --
(all amounts in US dollars)
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced the
results of the Pre-Feasibility Study - Mine Life Extension ("PV2
PFS") for its wholly owned Pinto Valley Mine in Arizona, US, which extends the mine life by 8
years from 2018 to 2026.
Highlights
- Average annual production for the first five years is 128.4
million pounds of copper contained in concentrate and 6.6 million
pounds of copper cathode. Life of Mine ("LOM") annual production of
119.5 million pounds of copper contained in concentrate plus 6.3
million pounds of cathode copper, and 1.4 million pounds of
molybdenum and 235,000 ounces of silver credited to concentrate
annually.
- After-tax net present value (NPV), discounted at 8%, of
$738 million.
- Expected LOM C1 cash costs[1]
are estimated to be $2.00 per pound
of payable copper (net of copper cathodes, molybdenum and silver
by-product credits).
- The LOM strip ratio is 0.65:1.
- Total sustaining capital costs estimated to be $187.9 million over 12.3 years.
- Pinto Valley Mine will operate to 2026 under the PV2 PFS
parameters, including Proven and Probable Mineral Reserves of 232
million tonnes at 0.33% copper.
- With an economic cut-off grade ("COG") of 0.18% copper, the
Mineral Resource has increased by 61% to 1,563 million tonnes at
0.30% copper from 968 million tonnes at 0.35% copper with a 0.25%
COG published in December 2013. The
contained copper within the Mineral Resource increases by 40%.
- Capstone believes there is potential to extend the operational
life beyond the PV2 reserve life if Mineral Resources not included
in the PV2 mine plan can be successfully converted into Mineral
Reserves. Capstone intends to commence engineering and economic
studies to consider all remaining current Mineral Resources not
included in the PV2 mine plan and their potential for development
beyond 2026.
"The Pinto Valley PFS has validated the purchase price and
confirms our position as a leading intermediate copper producer,"
said Darren Pylot, President and CEO
of Capstone. "Completion of the PV2 PFS extends the mine life to
2026 and provides us with the platform to stabilize operations,
gain efficiencies and gives us the opportunity to take a
longer-term view towards the future of the Pinto Valley Mine in
Arizona."
"The PV2 PFS does not include all the projected impact of the
process improvements that are underway at the mine, which we expect
to generate cost savings in the years ahead," continued Mr. Pylot.
"As well as pursuing operating efficiencies, we have started the
work required to evaluate a possible mine life extension beyond
2026 and a potential increase in throughput."
____________________________________________
1. This is an alternative performance measure; please see
"Alternative Performance Measures" at the end of this release.
Pre-Feasibility Study
The PV2 PFS project was directed by Capstone with contributions
from Kirkham Geosystems Ltd. (geology, Resource estimation),
Independent Mining Consultants Inc. (reserve, geotechnical, mine
design and schedule, equipment selection), KWM Consulting Inc.
(metallurgy, mill operation), AMEC Environment & Infrastructure
Inc. (tailings), Stantec (Infrastructure and PFS report
compilation), SRK (US), Inc. (environmental), and Adam M Consulting
Inc. (financial modelling). Personnel from each of these companies
will be signing off as a Qualified Person ("QP") as defined in
National Instrument 43-101
Standards of Disclosure for Mineral Projects
of the Canadian Securities Administrators ("NI 43-101") for their
specific responsibilities.
The Pinto Valley Mine is a conventional open pit operation, with
drilling, blasting, loading and hauling. The mill operation
consists of a primary, secondary, tertiary crushing system, six
ball mills, and flotation concentration. The mill produces a copper
and molybdenum concentrate. Copper cathodes are produced through a
SX/EW plant by leaching of run of mine ("ROM") material above 0.10%
copper and below 0.18% copper grade.
The mine has been in operation since 1974 with three shutdown
periods. Most recently the mine was restarted in December 2012. The mine is operated in imperial
units (US) with production statistics converted to metric for
reporting purposes.
Mineral Resources
Mineral Resource Estimate, March 2014, at a 0.18% Cu Cut-off Grade[1],[2]
Metric Contained Contained
Tonnes Copper Molybdenum Copper Molybdenum
millions % % M lbs M lbs
Measured (M) 660.4 0.34 0.008 5,014.3 119.4
Indicated (I) 902.5 0.28 0.006 5,491.8 123.4
Total M&I 1,563.0 0.30 0.007 10,506 242.8
Inferred 58.2 0.23 0.005 298.5 6.8
- Mineral Resources are reported inclusive of Mineral
Reserves.
- Totals may not sum exactly due to rounding.
The March 2014 Mineral Resource
was estimated by Kirkham Geosystems Ltd. The updated Mineral
Resource statement, based on additional drill hole information not
included in the previous Mineral Resource Estimate, increased the
Mineral Resource by 75.0 million tonnes from the last Mineral
Resource Estimate completed in December
2013. The Mineral Resource Estimate includes the Mineral
Reserve.
Mineral Resources that are not
Mineral Reserves do not have demonstrated economic viability.
Mineral Resource Estimates do not account for mineability,
selectivity, mining loss and dilution. These Mineral Resource
Estimates include Inferred Mineral Resources that are normally
considered too speculative geologically to have economic
considerations applied to them that would enable them to be
categorized as Mineral Reserves. There is also no certainty that
these Inferred Mineral Resources will be converted to Measured and
Indicated categories through further drilling, or into Mineral
Reserves, once economic considerations are applied.
Mineral Reserves
The Mineral Reserve evaluation is constrained by the permitted
capacity of existing tailings facilities, thereby limiting the mine
life to 12.3 years. The Mineral Reserve was developed by tabulating
the contained measured and indicated (proven and probable) material
inside of the designed pit at the mill cut-off grades.
Mineral Reserve Estimate, January 1, 2014[1],[2],[3]
Contained Contained
Classification Ore Cu Moly Copper Molybdenum
M tonnes % % M lbs M lbs
Proven 218.97 0.33 0.008 1,593.1 38.6
Probable 13.25 0.33 0.008 96.4 2.3
Proven + Probable 232.22 0.33 0.008 1,689.5 41.0
- Economic inputs to the block model were $2.75 per pound copper, mining $2.02 per tonne moved, mill $5.50 per tonne processed, G&A $1.65 per tonne processed and an average copper
recovery of 88%.
- Cut-off Grade - 0.18% Cu 2014-2022, excess ore below 0.20% Cu
was stockpiled for processing in 2025-2026. An internal cut-off
grade of 0.17% Cu was applied in 2023-2025.
- QP - John Marek, Independent
Mining Consultants Inc.
The mine design was completed using standard open pit
assumptions and slope design angles as defined by geotechnical
consultants.
Mine Production Schedule
The PV2 project will extend production at the Pinto Valley Mine
to 2026 from the BHP Billiton Ltd. ("BHPB") published Mineral
Reserve which was being mined under a plan that operated until
2018. Mine production will increase from 22.6 million metric tonnes
in 2014 to approximately 42.3 million metric tonnes in 2016 to 2019
and then decrease through to 2025. The PV2 LOM strip ratio is
0.65.
Pinto Valley Mine
Schedule
LG Stockpile at 0.18 to
Mill Ore 0.20% Cu
LG
Year Cut-off Ore Cu Moly Stkp Cu Moly
M M
Cu% tonnes % % tonnes % %
1 2014 0.22 18.25 0.39 0.008 1.090 0.20 0.007
2 2015 0.22 18.25 0.34 0.008 4.296 0.20 0.007
3 2016 0.20 18.98 0.38 0.008 1.809 0.19 0.004
4 2017 0.20 18.98 0.33 0.008 0.847 0.19 0.008
5 2018 0.20 18.98 0.33 0.009 3.781 0.19 0.007
6 2019 0.19 18.98 0.32 0.010 2.674 0.18 0.006
7 2020 0.20 18.98 0.33 0.011 2.350 0.19 0.005
8 2021 0.20 18.98 0.33 0.008 1.782 0.19 0.005
9 2022 0.18 18.98 0.32 0.006 - - -
10 2023 0.17 18.98 0.31 0.006 - - -
11 2024 0.17 18.98 0.35 0.007 - - -
12 2025 0.17 6.27 0.34 0.007
TOTAL 213.59 0.34 0.008 18.629 0.19 0.006
Table continues...
Pinto Valley Mine
Schedule
Leach at 0.10 to
0.18% Cu Waste Total
LG
Year Leach M Cu Material Material
tonnes % M tonnes M tonnes
1 2014 2.185 0.15 1.048 22.573
2 2015 5.435 0.14 4.332 32.312
3 2016 9.106 0.15 12.379 42.275
4 2017 9.141 0.13 13.307 42.275
5 2018 8.548 0.15 10.965 42.275
6 2019 15.231 0.15 4.361 41.246
7 2020 7.355 0.14 0.788 29.474
8 2021 3.933 0.15 0.610 25.304
9 2022 3.746 0.14 0.309 23.035
10 2023 4.814 0.13 0.977 24.772
11 2024 1.129 0.14 - 20.110
12 2025 6.270
TOTAL 70.623 0.14 49.076 351.919
Low grade ore (0.18-0.20% copper) will be stockpiled from 2014
to 2022 for planned processing in 2025 and 2026. In 2023 to 2025 a
breakeven cut-off grade of 0.17% copper is used. Material grading
0.10% to 0.18% copper (leach) will be stockpiled and leached. The
leach solution will be sent to the existing SX/EW plant for the
production of copper cathode. Waste material below 0.10% copper
will be stored separately.
Ore production in the PV2 PFS is constrained, first by the
permitted capacity of the tailings dam, and eventually would become
further constrained by the surface ownership. There is a
significant amount of additional Mineral Resource that could
potentially be mined if the constraints were removed.
The PFS has identified the need for additional mining equipment
from 2014 to 2017 to meet the increased production requirements,
costing approximately $48
million.
Major Mining Equipment
Current Additional
Fleet Fleet
Drills 2 1
Cat 994 Loaders 3 -
Hydraulic Shovel - 2
Cat 789 15 4
Additional auxiliary fleet will also need to be purchased, which
is included in the capital estimate.
Processing
Ore feed to the mill is planned to continue at 50,000 metric
tonnes per day, or 18.2 million metric tonnes per year for the
first two years followed by an increase to 52,000 metric tonnes per
day or 18.9 million metric tonnes per year for the remaining life
of the mine. Low grade ore that will be stockpiled earlier in the
mine life will be processed in 2025 and 2026. Metal recoveries
average 88.0% for copper and 42.8% for molybdenum.
Mill Ore
Year Cut-off Ore Cu Moly
Cu% M tonnes % %
1 2014 0.22 18.250 0.39 0.008
2 2015 0.22 18.250 0.34 0.008
3 2016 0.20 18.980 0.38 0.008
4 2017 0.20 18.980 0.33 0.008
5 2018 0.20 18.980 0.33 0.009
6 2019 0.19 18.980 0.32 0.010
7 2020 0.20 18.980 0.33 0.011
8 2021 0.20 18.980 0.33 0.008
9 2022 0.18 18.980 0.32 0.006
10 2023 0.17 18.980 0.31 0.006
11 2024 0.17 18.980 0.35 0.007
12 2025 Pit-Stk 18.980 0.24 0.006
13 2026 0.18 5.918 0.19 0.006
Total 232.219 0.33 0.008
Payable copper production will vary from 115 million pounds to
140 million pounds per year, averaging 119.4 million pounds per
year, until processing of lower grade ore begins in 2025. Silver
metal in concentrate will average 212,000 payable ounces
annually.
Contained and Payable Copper
Contained
Copper Payable Copper
Concentrate Concentrate Cathode Total
Year M lbs M lbs M lbs M lbs
2014 140.0 135.1 6.2 141.3
2015 118.7 114.5 6.3 120.8
2016 141.9 136.9 6.7 143.6
2017 120.5 116.3 6.8 123.1
2018 120.9 116.7 7.1 123.8
2019 115.9 111.9 7.5 119.3
2020 122.2 117.9 7.7 125.6
2021 120.5 116.3 7.3 123.6
2022 118.0 113.9 6.8 120.7
2023 112.6 108.6 6.6 115.2
2024 129.7 125.2 6.4 131.6
2025 87.4 84.3 6.0 90.3
2026 21.6 20.9 5.5 26.4
2027 - - 5.3 5.3
2028 - - 5.2 5.2
2029 - - 5.0 5.0
2030 - - 4.9 4.9
The PV2 PFS assumes that the copper concentrate will be sold 10%
domestically and 90% internationally. Molybdenum production will
average 1.4 million pounds per year in concentrate through the life
of the mine. This concentrate will be sold locally. Copper cathode
production will average 6.3 million pounds per year through the
life of the mine. Cathodes will be sold locally.
Infrastructure
Pinto Valley Mine has existing infrastructure to support
operational needs for the existing and PV2 operations. Minor
upgrades to mine maintenance facilities have been identified to
increase the effectiveness and efficiency of the operation. In the
open pit operational area, explosives facilities, power lines,
pipelines, and perimeter drainage ditches will need to be relocated
during 2014 and 2015.
Capital Cost Estimate
The total PV2 life of mine project sustaining capital cost
estimate is summarized below:
PV2 PFS - Summary of Capital Costs $M
2014 Total LOM
Mine Equipment 21.1 47.6
Mine Infrastructure and Mine Maintenance 5.4 13.0
Concentrator and SX/EW 8.5 23.5
Tailings and Water 2.7 41.3
Other Infrastructure 1.5 51.2
G&A and Engineering Studies 7.6 11.3
Total 46.8 187.9
Operating Cost Estimate
Summary of Average Life of Mine Operating Costs
Opex
Mining Cost $/tonne mined 2.18
Mining Cost $/tonne milled 3.48
Milling Cost $/tonne milled 5.35
G&A Cost $/tonne milled 1.53
Total $/tonne milled 10.36
SX/EW Cost $/lb Cu cathode 1.80
Economics
Summary of Inputs into Economic Model
Key Assumptions
Cu Price - average 2014-2022 $/lb 3.15
Cu Price - long-term (2023+) $/lb 2.75
Mo Price $/lb 12.5
Ag Price $/oz 20.0
Copper concentrate grade - Cu % 27.5%
Copper payable % 96.5%
Copper treatment charge $/dmt 85
Financial Analysis $M
Copper Revenue 4,656
Moly Revenue 210
Silver Revenue 52
Total Revenue 4,918
Site Costs -2,600
Conc. Transport, TC/RCs -716
Operating Cash Flow 1,602
Sustaining Capital Costs -188
Closure Costs -129
Net Cash Flow, Pre-Tax, Undiscounted 1,285
NPV (8%) Pre-Tax 931
Taxes Payable -274
Net Cash Flow, Post-Tax, Undiscounted 1,011
NPV (8%) Post-Tax 738
Sensitivities
Parameter or Variation After Tax
NPV NPV
@ 0% @ 8.0%
($M) ($M)
Copper Price
-20% 306 254
-10% 682 512
Base Case 1,011 738
10% 1,324 952
20% 1,620 1,155
Total Operating Costs
-20% 1,415 1,011
-10% 1,221 880
Base Case 1,011 738
10% 785 585
20% 537 418
Permitting
Extension in mine life for PV2 will require amendments to the
existing Aquifer Protection Permit ("APP") issued by the Arizona
Department of Environmental Quality ("ADEQ") to add proposed low
grade and waste dumps as discharge facilities. A Plan of Operations
is currently under review with the US Forest Service related to a
consolidation of permit renewals required for the current operation
of Pinto Valley. The scope of PV2 does not require any changes to
this application. The impact on the closure plan will also be
considered as part of the review, but is not expected to be
material.
Technical Report
The full PV2 PFS NI 43-101 Technical Report will be filed under
Capstone's profile on SEDAR at http://www.sedar.com within 45
days of the date of this news release.
2014 Operating and Capital Guidance - Pinto Valley
Following is the 2014 production and capital guidance table for
Pinto Valley and for Capstone total production revised now to
include Pinto Valley. Capstone expects to produce 102,000 tonnes
(±5%) of copper in concentrates from its Pinto Valley, Cozamin and
Minto mines.
Pinto Valley Cozamin Minto Total
Tonnes milled (millions) 18.2 1.2 1.4 20.8
Copper grade (%) 0.39 1.85 1.49 0.55
Copper recovery (%) 88.5 93.4 92.4 89.0
Production (contained in concentrates)
Copper (tonnes) 63,500 20,000 18,500 102,000
Copper cathode (tonnes) 2,800 - - 2,800
Zinc (tonnes) - 9,000 - 9,000
Molybdenum (000s lbs) 660 - - 660
Lead (tonnes) - 1,700 - 1,700
Silver (million ounces) 0.3 1.6 0.2 2.1
Gold (ounces) - - 17,670 17,670
C1 cash costs per pound of
payable
copper produced net of by-product
credits and selling costs[1] $1.90-$2.00 $1.30-$1.40 $2.45-$2.55 $1.90-$2.00
- This is an alternative performance measure please see
"Alternative Performance Measure" at the end of this release.
2014 Capital Expenditure Guidance[1] $M
Pinto Valley Cozamin Minto Total
Sustaining $22.0 $18.0 $17.4 $57.4
PV2 Capital 24.8 - - 24.8
Brownfield Exploration - 3.0 - 3.0
Total 2014 Budgeted Capital Expenditures $46.8 $21.0 $17.4 $85.2
- Does not include Santo Domingo
or Kutcho development projects or greenfield exploration.
Major sustaining capital expenditures at Pinto Valley in 2014
include $8.4 million for mill and
SX/EW, $7.4 million for studies, IT
and accounting system changes and other, $2.7 million for tailings and water management
and $3.5 million for mining equipment
and sustaining. The implementation of all recommendations in the
PV2 PFS are budgeted to be $24.8
million in 2014, subject to board approval.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company,
committed to the responsible development of our assets and the
environments in which we operate. We are focused on copper, with
three producing mines; the Pinto Valley copper-molybdenum mine
located in Arizona, US, the
Cozamin copper-silver-zinc-lead mine in Zacatecas State,
Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two
development projects; the large scale 70% owned Santo Domingo copper-iron-gold project in
Region III, Chile, in partnership
with Korea Resources Corporation, and the 100% owned Kutcho
copper-zinc-gold-silver project in British Columbia, Canada, as well as
exploration properties in Chile
and Mexico. Using our cash flow
and strong balance sheet as a platform, Capstone's strategy is to
continue to grow with Mineral Resource and Reserve expansions and
exploration, and through acquisitions in politically stable,
mining-friendly regions. We will pace our growth with our financial
capacity, ensuring we retain, as a priority, sufficient financial
flexibility to meet the requirements of our existing operations and
our committed development projects, while maintaining an adequate
cushion to deal with market volatility and operating risks inherent
in the mining industry. Our headquarters are in Vancouver, Canada and we are listed on the
Toronto Stock Exchange (TSX). Further information is available at
http://www.capstonemining.com
Cautionary Note Regarding Forward-Looking Information
This document may contain "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). These forward-looking statements are
made as of the date of this document and Capstone Mining Corp. (the
"Company") does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required under
applicable securities legislation.
Forward-looking statements relate to future events or future
performance and reflect Company management's expectations or
beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of Mineral Reserves
and Mineral Resources, the realization of Mineral Reserve
Estimates, the timing and amount of estimated future production,
costs of production, capital expenditures, success of mining
operations, environmental risks, unanticipated reclamation
expenses, title disputes or claims and limitations on insurance
coverage. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "outlook", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative of these terms or comparable terminology.
In this document, certain forward-looking statements are identified
by words including "may", "future", "expected", "intends",
"guidance" and "estimates". By their very nature forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, among others,
risks related to changes in project parameters as plans continue to
be refined; future prices of resources; possible variations in ore
Reserves; grade or recovery rates; accidents; dependence on key
personnel; labour pool constraints; labour disputes; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; our ability to integrate
new acquisitions into our operations; counterparty risks associate
with sales of our metals; foreign currency exchange rate
fluctuations; accuracy of Mineral Reserve Estimates; changes in
general economic conditions; increased operating and capital costs;
operating in foreign jurisdictions with risk of changes to
governmental regulation; compliance with government regulation;
reliance on approvals, licenses and permits from governmental
authorities; impact of climatic conditions; limitations inherent in
our insurance coverage; land reclamation and mine closure
obligations; increasing energy prices and other risks of the mining
industry as well as those factors detailed from time to time in the
Company's interim and annual financial statements and management's
discussion and analysis of those statements, all of which are filed
and available for review under the Company's profile on SEDAR at
http://www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. The Company provides no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
Quality Assurance and National Instrument 43-101 Compliance
Gregg Bush, P. Eng., Senior Vice
President and Chief Operating Officer for Capstone, a QP under NI
43-101, reviewed and approved all Technical Information in this
news release. The following QP's will author the technical report:
Mel Lawson, P.E. of Stantec, Garth
Kirkham, P.Geo. of Kirkham Geosystems Ltd., John Marek P.E. of Independent Mining
Consultants, Inc., Ken Majors P.Eng.
of KWM Consulting Inc, Tony Freiman, P.E. of AMEC Inc.,
Adam Majorkiewicz, P.Eng of Adam M
Consulting Inc. and Cori Hoag C.P.G.
of SRK.
Based on the Mineral Resource Estimate, a standard methodology
for pit limit analysis, mining sequence, and cut-off grade
optimization, including application of mining dilution, process
recovery, economic criteria and physical mine and plant operating
constraints, has been followed to design the Pinto Valley pit and
determine the Mineral Reserve Estimate summarized in the Mineral
Reserve table.
Alternative Performance Measures
The item marked with (1) "C1 Cash Cost per Pound of Payable
Copper Produced" is an Alternative Performance Measure. This
performance measure is included because this statistic is a key
performance measure that management uses to monitor performance.
Management uses this statistic to assess how the Company is
performing to plan and to assess the overall effectiveness and
efficiency of mining operations. This performance measure does not
have a meaning within IFRS and, therefore, amounts presented may
not be comparable to similar data presented by other mining
companies. This performance measure should not be considered in
isolation as a substitute for measures of performance in accordance
with IFRS.
Cautionary Note to United States Investors
This news release contains disclosure that has been prepared in
accordance with the requirements of Canadian securities laws, which
differ from the requirements of US securities laws. Without
limiting the foregoing, this news release may refer to technical
reports that use the terms "Indicated" and "Inferred" Resources. US
investors are cautioned that, while such terms are recognized and
required by Canadian securities laws, the SEC does not recognize
them. Under US standards, mineralization may not be classified as a
"Reserve" unless the determination has been made that the
mineralization could be economically and legally produced or
extracted at the time the Reserve determination is made. US
investors are cautioned not to assume that all or any part of
Indicated Resources will ever be converted into Reserves. US
investors should also understand that "Inferred Resources" have a
great amount of uncertainty as to their existence and as to whether
they can be mined legally or economically. It cannot be assumed
that all or any part of "Inferred Resources" will ever be upgraded
to a higher category. Therefore, US investors are also cautioned
not to assume that all or any part of Inferred Resources exist, or
that they can be mined legally or economically. Accordingly,
information concerning descriptions of mineralization and resources
contained in this news release may not be comparable to information
made public by US companies subject to the reporting and disclosure
requirements of the SEC.
For further information:
Cindy Burnett, VP, Investor
Relations and Communications
+1-604-637-8157
cburnett@capstonemining.com
(CS.)
SOURCE Capstone Mining Corp.