The following is a summary of the Capstone Copper Corp (CSCCF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Capstone produced over 42,000 tons of copper in Q1 2024 with consolidated C1 cash costs of $2.88 per pound.

• The company significantly improved its balance sheet by reducing net debt from $927 million at year-end 2023 to $740 million at the end of the first quarter.

• Capstone reported an adjusted EBITDA of $80.1 million in Q1 2024, a 21% increase year-over-year.

• The realized copper price of $3.85 per pound was in line with the LME average price.

Business Progress:

• Capstone reiterated its 2024 guidance, planning to increase Sulphide's proportion in its production base, thereby reducing consolidated cash costs.

• The company's Mantoverde Development Project (MVDP) remains on track and on budget, with a planned ramp-up over the next few months.

• Plans are underway to release a feasibility study for the MVDP and Santo Domingo project by mid-year, alongside a $25 million exploration program involving over 61,500 meters of drilling.

• Capstone has earned ISO 50001 energy efficiency management system certification for two of its mines and committed to reducing greenhouse gas emissions by 30% from a 2021 baseline by 2030.

• Developments at the Pinto Valley mine will meet the rising demand for copper due to renewable energy transition and AI data centers.

• The Santo Domingo project's updated feasibility study is set to be completed by mid-year with a partnership arrangement expected by year-end.

• Operational issues were reported at the Mantos Blancos asset, but operations are expected to reach the 20,000-ton per day mark in the second half of the year.

More details: CAPSTONE COPPER CORP IR

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