VANCOUVER, June 9, 2014 /CNW/ - Capstone Mining Corp. ("Capstone") (TSX:
CS) reports that production has resumed at its Cozamin Mine in
Zacatecas, Mexico following a brief stand down after an accident which
occurred on June 5th.
Investigations continue and the accident scene has been barricaded.
Normal operations have resumed in all other areas of the mine after a
review of all active underground faces confirmed that operating
conditions are safe. The shortfall in production from the 3 day
shutdown is not expected to affect production guidance for 2014.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company, focused
on copper. We are committed to the responsible development of our
assets and the environments in which we operate. Our three producing
mines are the Pinto Valley copper mine located in Arizona, US, the
Cozamin copper-silver mine in Zacatecas State, Mexico and the Minto
copper mine in Yukon, Canada. In addition, Capstone has two copper
development projects; the large scale 70% owned copper-iron Santo
Domingo project in Region III, Chile, in partnership with Korea
Resources Corporation, and the 100% owned copper-zinc Kutcho project in
British Columbia, Canada, as well as exploration properties in Chile
and Mexico. Using our cash flow and strong balance sheet as a platform,
Capstone's strategy is to continue to grow with mineral resource and
reserve expansions and exploration, and through acquisitions in
politically stable, mining-friendly regions. We will pace our growth
with our financial capacity, ensuring we retain, as a priority,
sufficient financial flexibility to meet the requirements of our
existing operations and our committed development projects, while
maintaining an adequate cushion to deal with market volatility and
operating risks inherent in the mining industry. Our headquarters are
in Vancouver, Canada and we are listed on the Toronto Stock Exchange
(TSX). Further information is available at www.capstonemining.com.
Cautionary Note Regarding Forward-Looking Information
This document may contain "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). These forward-looking statements are made as of the date
of this document and Company does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required under applicable securities legislation.
Forward-looking statements relate to future events or future performance
and reflect Company management's expectations or beliefs regarding
future events and include, but are not limited to, statements with
respect to the timing and amount of estimated future production, costs
of production, success of mining operations and environmental risks. In
certain cases, forward-looking statements can be identified by the use
of words such as "plans", "expects" or "does not expect", "is
expected", "outlook", "guidance", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or
"be achieved" or the negative of these terms or comparable terminology.
In this document, certain forward-looking statements are identified by
words including "may", "future", "expected", "intends" and "guidance".
By their very nature forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Such factors include, among others, risks related to actual results of
current exploration activities; changes in project parameters as plans
continue to be refined; future prices of resources; possible variations
in ore reserves, grade or recovery rates; accidents, dependence on key
personnel, labour pool constraints, labour disputes; availability of
infrastructure required for the development of mining projects; delays
in obtaining governmental approvals or financing or in the completion
of development or construction activities; and other risks of the
mining industry as well as those factors detailed from time to time in
the Company's interim and annual financial statements and management's
discussion and analysis of those statements, all of which are filed and
available for review under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. The Company provides no assurance that
forward-looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance
on forward-looking statements.
SOURCE: Capstone Mining Corp.
For further information:
Cindy Burnett, VP, Investor Relations and Communications