|Capstone Mining Corp - CS.t operates three producing copper mines: Pinto Valley in the US, Cozamin in Mexico, and Minto in Canada.|
Capstone also has two development projects: Santo Domingo in Chile and Kutcho in Canada, as well as exploration properties in Chile.
Capstone Mining Corp. ("Capstone") (TSX: CS) today announced that it has entered into zero-cost collars for 43,000 tonnes of copper with settlements between January and December 2017 at a minimum of US$5,025 and a maximum of US$5,585 per tonne of copper. There was no cost to Capstone to put this protection in place.
"Capstone's strategy over the long term is to remain unhedged on our copper production," said Darren Pylot, President and CEO of Capstone. "However, we determined our most prudent course of action was to opportunistically protect our business from near term downside risk. Our actions ensure we can continue to reduce debt in 2017, while retaining meaningful exposure to copper prices, particularly in the second half of 2017 and beyond."