CAPSTONE
ANNOUNCES PRODUCTION AND SALES FOR THE SECOND QUARTER OF 2008
July 9, 2008
VANCOUVER, B.C. � Capstone Mining Corp.
(�Capstone�) is pleased to report production and sales results for the second
quarter of 2008 from its Cozamin mine located in Zacatecas State, Mexico.
With the expansion from 2,200 tpd to 3,000 tpd continuing, the Cozamin
mine produced 206,034 tonnes during the second quarter of 2008.
Summarized results are shown below;
OPERATING AND SALES RESULTS
(all figures unaudited)
|
Q2 - 2008
|
Q1 - 2008
|
|
|
|
Ore milled (tonnes)
|
206,034
|
202,656
|
|
|
|
Copper production (lbs)
|
6.7M
|
6.0M
|
Copper grade (%)
|
1.66
|
1.59
|
Copper recovery (%)
|
88.9
|
84.2
|
Copper sales (lbs)
|
6.8M
|
6.9M
|
Average Copper price*
|
$3.80
|
$3.59
|
|
|
|
Zinc production (lbs)
|
2.9M
|
2.3M
|
Zinc grade (%)
|
1.32
|
1.35
|
Zinc recovery (%)
|
49.0
|
40.6
|
Zinc sales (lbs)
|
2.9M
|
0.7M
|
Average Zinc price*
|
$0.91
|
$1.21
|
|
|
|
Lead production (lbs)
|
1.5M
|
1.7M
|
Lead grade (%)
|
0.56
|
0.65
|
Lead recovery (%)
|
59.7
|
60.2
|
Lead sales (lbs)
|
2.0M
|
1.3M
|
Average Lead price*
|
$1.00
|
$1.33
|
|
|
|
Silver production (oz�s)
|
330,000
|
338,000
|
Silver sales (oz�s)
|
343,000
|
306,000
|
Silver price
|
$8.40
|
$8.40
|
*
Average prices used on provisional invoices during the quarter.
The
second quarter financial results will be reported after market close on
Tuesday, July 29, 2008. Conference call details will follow under a separate
press release.
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 82.4 million shares outstanding and is well financed with no
bank debt. More information is available online at: www.capstonemining.com.
For
further information about the Company, please contact:
Chris Tomanik or Mark Patchett, Telephone: (604) 684-8894 / Facsimile: (604)
688-2180
Email: ctomanik@capstonemining.com,
or mpatchett@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.
|