Q3 2024 Capstone Copper Corp Earnings Call Transcript
Key Points
- Capstone Copper Corp (CSCCF) achieved commercial production levels at its Montevallo development project within three months of producing first concentrate.
- The company completed its first two concentrate shipments, meeting all required specifications.
- Capstone Copper Corp (CSCCF) released a feasibility study for the Monteverde optimized project, which is expected to expand production significantly with a low capital intensity.
- The company maintained a strong balance sheet with net debt largely unchanged at $751 million, positioning it well for future growth.
- Capstone Copper Corp (CSCCF) received the 2024 best midsized company of the year award from Tsunami, the Chile Mining Association, recognizing its ESG practices and community engagement.
- Capstone Copper Corp (CSCCF) revised its C1 cash cost guidance to $2.60 to $2.80 per pound, higher than initially expected due to later-than-expected ramp-ups.
- Copper sales were below production levels by 500 tons, impacting financial results.
- The company experienced unplanned maintenance at Pinto Valley, affecting throughput and production targets.
- Mantos Blancos production and costs trended unfavorably relative to guidance due to earlier operational challenges.
- Capstone Copper Corp (CSCCF) expects increased finance expenses and depreciation in Q4 due to the achievement of commercial production at Monteverde.
Good afternoon. Ladies and gentlemen and welcome to Capstone Coppers Q3, 2024 results conference call at this time. All lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call, you require immediate assistance. Please press star zero for the operator. This call is being recorded on Thursday, October 31 2024. I would now like to turn the conference over to Mr Daniel Sampieri. Thank you. Please go ahead.
Thank you operator. I'd like to welcome everyone to Capstone Copper's Q3 2024 conference call. Please note that the news release and regulatory filings announcing Capstone Copper's 2024 third quarter, financial and operational results are available on our website and on cr plus. If you are logged into the webcast, we will advance the slides of today's presentation which are also available in the investors section of our website.
I am joined today by our CEO John mckenzie, our President and Chief Operating Officer Kle Maher, our SVP and
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