CFO Jim Slattery of Capstone Mining Corp. (TSE:CS) says the company’s Pinto, Arizona flagship operation now has a projected mining life of 12 years, an upgrade that has boosted its appeal to workers and suppliers. Mr. Slattery was speaking at the Canaccord Genuity Global Resources Conference 2014, held in New York City at the New York Palace Hotel.
The Pinto operation, acquired in 2013 by Capstone, is the only operating copper mine in the area. The open pit mine is expected to produce 66.3 tons of copper this year, in line with 2014 guidance, Slattery said.
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Capstone, headquartered in Vancouver, Canada, is a self-described intermediate copper producer with a corporate philosophy of low-risk operations focused on the Americas. “We have a heavy emphasis on measured, conservative, disciplined growth,” Slattery said. He added that Capstone hopes to create a platform of five or six operating or development companies to deliver up to 300,000 tons of copper per year.
The company currently has three operating assets — the aforementioned Pinto Valley; a mine in Cozamin, Mexico, near Zacatecas; and Minot, located in the Yukon, Canada. Capstone is also developing operations in Santo Domingo, Chile, a midsize mine projected to yield iron ore, copper and some gold deposits; and an operation in Kutcho, BC, Canada. The operating mines are producing 100k tons of copper annually, Slattery said.
The company is focused on organic growth but is also exploring acquisitions, Slattery said, adding that any additions will be in copper and in the Americas. “We like the stability of that jurisdiction,” Slattery said.
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