The following is a summary of the Capstone Copper Corp. (CSCCF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Capstone Copper reported Q3 2024 copper production of 47,500 tonnes.
Consolidated C1 cash costs were reported at $2.83 per pound.
Q3 recorded EBITDA of $120.8 million, nearly doubled year-over-year but down 2% quarter-over-quarter.Revised C1 cash cost guidance for 2024 is now set at $2.60 to $2.80 per payable pound.
Net debt held steady at $751 million as at the end of September.
Business Progress:
Achieved commercial production at Mantoverde Development Project.
Completed first two concentrate shipments from Mantoverde meeting all required specifications.
Released a feasibility study for Mantoverde Optimized Project, indicating a potential capacity increase and highlighting significant additional copper production.
Leadership changes announced with a new CEO and COO slated for next year, supporting continuity and future growth.
Opportunities:
Mantoverde and Santo Domingo projects highlight potential future growth with opportunities for increased production and efficiency.
Feasibility studies and plant optimizations suggest expansion potential, projecting significantly higher copper outputs.
Risks:
Delays in ramp-up at Mantoverde and Mantos Blancos affected production volumes and increased unit costs.
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