CSC - Capstone Copper Corp.

[System]

Capstone Copper Corp (Capstone) is a base metals mining company. It is involved in the exploration and production of metals in Chile, the US, Canada, and Mexico. The company focuses on the production of copper, with gold, silver, zinc, molybdenum, and copper concentrate produced as by-products.

Capstone’s production assets include the Cozamin mine in Mexico, Mantoverde, Mantos Blancos in Chile, and the Pinto Valley mine in Arizona, the US. The company operates development project, Santo Domingo Project in north of Copiapo, Chile, Planalto Project in Carajas, Brazil, and Copper Cities project in Arizona, USA. It also has exploration projects and development projects in Americas. Capstone is headquartered in Vancouver, British Columbia, Canada.

ASX Dual Listing

Capstone intends to apply to list as a Foreign Exempt Issuer on the Australian Securities Exchange (“ASX”) during the first quarter of 2024. The Company has grown a substantial investor base in the Asia Pacific region and this strategy will broaden Capstone’s exposure within these markets. The Company does not intend to raise capital as part of the listing on the ASX and Capstone’s common shares will continue trading on the Toronto Stock Exchange, its primary listing.

The ASX is a premium market with a long track record as a platform for mining companies. It provides a deep and liquid pool of sophisticated investors and market participants who are limited or restricted to only ASX-listed issuers and have a strong understanding of the mining business.

Capstone Copper Announces Commissioning Activities Underway at MVDP and Provides Corporate Update

VANCOUVER, British Columbia - Capstone Copper Corp. ("Capstone" or the "Company") (TSX:CS) is pleased to announce that commissioning activities are

capstonecopper.com

It is anticipated that CSC will list on the ASX during February 2024.

Copper, a key element for decarbonization

Creating a positive impact in the lives of our people and communities by producing copper to meet the world’s growing needs.

capstonecopper.com

 

[Dona Ferentes]

Listing date	2 February 2024 ; 12:00 PM AEDT ##
Company contact	https://capstonecopper.com/ Ph: +1 604 684 8894
Principal Activities	Copper mining and production
Issue Price	N/A
Issue Type	Chess Depositary Interests
Security code	CSC
Capital to be Raised	N/A
Expected offer close date	N/A
Underwriter	N/A

 

[debtfree]

Macquarie's favourite ASX-listed copper play (and its not Sandfire or BHP) by Kerry Sun - Market Index​

Macquarie's favourite ASX-listed copper play (and its not Sandfire or BHP)

Capstone Copper, a $7.3 billion dual-listed copper producer, debuted on the ASX on April 8, 2024, increasing ASX quality copper pure plays to two.

www.marketindex.com.au

 

[Dona Ferentes]

big company with a spread of assets .

Since listing in April on the ASX, it has travelled along, under the radar a bit.

.
... announces that first saleable copper concentrate was produced at its Mantoverde Development Project in Chile, as the mine advances commissioning and ramps up to full production levels.

The unchanged key commissioning milestones at the MVDP include:
• First ore to the primary crusher – completed in Q4 2023
• First ore to the grinding circuit – completed in Q1 2024
• First saleable concentrate – completed in Q2 2024
• Achievement of nameplate operating rates – expected during Q3 2024

CEO John McKenzie said; “First saleable copper concentrate production at MVDP is a significant milestone for Capstone. This achievement is a testament to our dedicated and skilled teams, who continue to work towards a safe and efficient ramp-up to nameplate operating rates. MVDP remains on track and on budget with our guidance previously disclosed. “In July, we plan to release an updated feasibility study for our Santo Domingo project, followed by a feasibility study for our Mantoverde Optimized project later in the quarter, which will define the next phases of our value-accretive production growth in the district.”

About MVDP
MVDP is expected to enable the mine to process 236 million tonnes of copper sulphide reserves (which represent approximately 20% of total sulphide resources) over a 20-year expected mine life, in addition to existing oxide reserves. The MVDP involves the addition of a sulphide concentrator (nominal 32,000 ore tonnes per day) and tailings storage facility, and the expansion of the existing desalination plant and other minor infrastructure.

For a virtual tour of the Mantoverde Development Project please visit: https://vrify.com/decks/12698-
mantoverde-development-project

 

[rcw1]

Published AFR electronic 12/12/24:

Citi initiated coverage on metal producer Capstone Copper with a “buy” rating and a $C12.30 per share target price which the broker converted to $13.60. “We see positive earnings momentum on execution of growth projects and upward revisions to copper prices”, said Kate McCutcheon, an analyst at Citi.

The broker predicts copper prices to rise to $US10k/t vs the street price of $US9.2k/t.

Ms McCutcheon noted that compared to ASX peers, Capstone’s growth pipeline plans of 400kt per year is “a standout”. Delivery on guidance under the incoming chief executive will be key to incremental inflows, she said.

Citi is bullish on copper prices in the medium-term because of the global decarbonisation plan.

## Posted also within Copper thread

Have a very nice day, today

Kind regards
rcw1

 

[rcw1]

Good afternoon
CSC is a stock entered by rcw1into the ASF yearly competition - - FYI @mullokintyre

Woopie do the cows went mooooooooooooooooooooooooooooooooooo ...

Anyways, copper is good !!!

CSC is dual-listed Canadian-based S&P/ASX 300 Index (ASX: XKO) copper miner which joined the ASX on 8 April 2024. Nice.

December 11, 2024 — 10:40 am EST
Written by TheFly for TipRanks ->

Citi analyst Kate McCutcheon initiated coverage of Capstone Copper (CSCCF) with a Buy rating and C$12.30 price target The firm see positive earnings momentum on the company’s execution of growth projects as well as upward revisions to copper prices. Citi remains medium-term copper bulls underpinned by decarbonization-led demand growth, the analyst tells investors in a research note.

https://www.nasdaq.com/articles/capstone-copper-initiated-buy-citi

Quarterly published on 31 October 2024 attached.
December update:

https://d2ghdaxqb194v2.cloudfront.net/2801/195566.pdf

 

[rcw1]

Good afternoon
Announcement on 20/01/25 (see attached):

Consolidated copper production for 2024 and capital expenditure guidance for 2025:

• Record consolidated copper production in 2024 was 184,458 tonnes at C1 cash costs of approximately $2.75 to $2.80 per payable pound of copper;
• Consolidated copper production increased by 12% compared to 2023 driven by the ramp-up of the Mantoverde Development Project;
• During Q4 2024, Capstone produced record consolidated copper production of 53,942 tonnes at C1 cash costs of approximately $2.55 to $2.60 per payable pound of copper;
• 2025 forecasted production volumes of 220,000 to 255,000 tonnes of copper are expected to increase by approximately 19% to 38%, while 2025 forecasted C1 cash costs of $2.20 to $2.50 per payable pound of copper are expected to decrease by approximately 10% to 20% compared to 2024.

Nice

Reported today (30/01/25) AFR:

Cyclical stocks poised for a comeback​

Michael Steele Fund manager
Jan 30, 2025 – 10.30am

In part:

Copper, in particular, is a commodity that will experience increased demand as the push towards net zero economies gathers pace.

The volume of copper per electric vehicle, for example, is up to four times more than required for an internal combustion engine car. It is also an essential component of both electrical transmission capacity and renewable energy infrastructure.

The wide range of applications for copper across different elements of the decarbonisation process, as well as the broader economy, mean this demand is unlikely to be impacted greatly by any uncertainty generated by the Trump administration’s climate policies.

In fact, conservative forecasts from BHP suggest that copper demand will increase by 70 per cent by 2050 – but supply is highly constrained and new copper mines face significant hurdles to establish.

Companies such as Capstone Copper (ASX: CSC) may be well-placed to capitalise on the anticipated increased demand. The dual-listed company – which sits on the Australian and Canadian bourses – has diversified operations across the US, Mexico and South America. Its production volume is likely to increase by up to 100 per cent over the next five years and its costs are expected to fall as those volumes increase and new mines are brought online.

Note: AFR extract posted also into Copper Thread

Kind regards
rcw1

 

[rcw1]

Good evening
CSC has been entered into the annual competition. @mullokintyre fyi bloke, February 2025 update.

Chart update:
Daily

Quarterly report attached.
Takes some reading ...

Kind regards
rcw1

 

[rcw1]

Good morning
CSC has been entered into the ASF yearly competition a March 2025 update, @mullokintyre a fyi bloke ...

Copper has recently hit over that wonderful benchmark of US$10,000 per tonne ... on the London Metal Exchange, nice for copper miners etc ... and rcw1 too

7 March 2025 announcement (See attached) - the Company will be added to the Standard & Poors (“S&P”)/ASX 200 Index by the S&P Dow Jones effective prior to ASX market opening on March 24, 2025.

Trading halt on 10 March 2025.
Announcement just before close on 10 March 2024: Water Treatment Contract (see attached).

In a nutshell this is all about accessing water in the Antofagasta Region, in northern Chile, the country's main mining region. The Mantos Blancos
CSC 100%-owned, operating open-pit, high-grade copper-silver mine lies within this Antofagasta Region. The operation currently mines and processes sulphide and oxide ores. Capstone is currently evaluating the potential to increase throughput of the Mantos Blancos sulphide concentrator plant. Significant district exploration potential. Precious water is needed.

There is a significant demand for water resources to sustain productive projects, which has led to the formation of a dynamic water market that combines surface and underground continental sources, as well as seawater.

This agreement is good news !!

20 March 2025 Announcement (see attached) - Capstone Copper Announces Offering of US$500 Million Senior Notes Due 2033.

• The company has since reported it has successfully completed the pricing of its offering of US$600 million (approximately AU$952 million) in senior, unsecured bonds;
• The interest rate on the bonds will be 6.75%;
• The bonds will come due in 2033;
• Interest on the notes will accrue from the issue date and will be payable semi-annually; and
• The US$600 million in funds to repay project financing debt at its Mantoverde subsidiary, to pay down debt on its senior secured revolving credit facility, as well as for general corporate purposes.

Cash flow limitations being addressed by the company.

Chart Update:

Have a very nice Sunday.

Kind regards
rcw1

 

[rcw1]

Good evening
CSC has been entered into the ASF yearly competition an April 2025 update, @mullokintyre a fyi bloke ...

It has been reported:

• CSC will release its 2025 first quarter results on 1 May 2025 after market close - see attached announcement.

Chart Update:
daily

Kind regards
rcw1

 

[rcw1]

Good evening
1/4erly published on 2 May 2025 and attached:

• Consolidated total copper production for Q1 2025 was 53,796 tonnes at C1 cash costs1 of $2.59/lb. Sulphide copper production for Q1 2025 was 45,950 tonnes at C1 cash costs1 of $2.23/lb compared to 30,841 tonnes at $2.55/lb in Q1 2024, largely driven by contributions from Mantoverde sulphides following the successful ramp-up in 2024. Mantoverde sulphides produced 16,268 tonnes of copper at C1 cash costs1 of $1.53/lb in Q1 2025;
• Net loss attributable to shareholders of $6.8 million, or $(0.01) per share for Q1 2025 compared to net loss attributable to shareholders of $4.8 million, or $(0.01) per share for Q1 2024;
• Adjusted net income attributable to shareholders1 of $8.1 million, or $0.01 per share for Q1 2025, compared to adjusted net loss attributable to shareholders1 of $4.5 million in Q1 2024;
• Record adjusted EBITDA1 more than doubled to $179.9 million for Q1 2025 from $80.1 million for Q1 2024, primarily due to increased sulphide copper production and higher realized copper price of $4.36/lb compared to $3.85/lb;
• Operating cash flow before changes in working capital of $166.1 million in Q1 2025 compared to $62.1 million in Q1 2024;
• Net debt of $788.1 million as at March 31, 2025 modestly increased from $742.0 million as at December 31, 2024, driven by a working capital draw of $46.0 million largely related to a build-up of accounts receivables, in addition to non-recurring payments of $34.6 million for the final installment payment relating to the 2021 consolidation of the 100% interest in Santo Domingo and $10.0 million to repurchase a royalty at Santo Domingo. Total available liquidity1 of $1,044.5 million as at March 31, 2025, comprising of $344.5 million of cash and short-term investments, and $700.0 million of undrawn amounts on the corporate revolving credit facility;
• Completion of an offering of an upsized $600 million of 6.750% senior unsecured notes due 2033. The Company intends to apply the net proceeds of the offering to repay project financing debt at its Mantoverde S.A. subsidiary, to pay down outstanding debt on the Company's senior secured revolving credit facility, and for general corporate purposes;
• Repurchased a 2.0% net smelter return (“NSR”) royalty held on the Santo Domingo project from Empresa Nacional de Mineria (“ENAMI”) for cash consideration of $10 million. The ENAMI 1 royalty applied to certain concessions at Santo Domingo which covered approximately 26% of the Mineral Reserve mine plan per the 2024 Feasibility Study;
• The Company reiterates the 2025 guidance of 220,000 to 255,000 tonnes of copper production at $2.20 to $2.50 per pound cash costs1. Total 2025 sustaining and expansionary capital expenditure guidance of $315 million, plus an additional $210 million for capitalized stripping and $25 million for exploration, is also reaffirmed; and
• The CHESS Depository Interests (“CDI”) of the Company were added to the S&P/ASX 200 Index by the S&P Dow Jones Indices prior to ASX market open on March 24, 2025

Chart update:
Daily

Not holding
rcw1 select in the yearly comp...

Kind regards

rcw1