Capstone Mining Corp’s (CS.TO) in the first quarter earnings estimates, drawn, hurt by production constraints in one of the mines, and copper producer expressed caution on its ability to produce its 2010 outlook to reach . “During the quarter, the Minto mine throughput limitations experienced, initially due to restrictions breaker and then, as a result of the tailings plant,” the company said in a statement.
Net profit was $ 13,500,000, or 7 cents per share, compared with a net loss of $ 16,200,000, or 10 cents a share, a year ago.
Excluding non-recurring items and cash, the company earned 11 cents per share.
Gross sales increased 39 percent to $ 88,000,000.
Analysts on average expected the company to 13 cents per share earning, according to Thomson Reuters, I / B / E / S
Last December, capstone said it expects 2010 production to be between 90 and 100 million pounds of copper concentrates at an estimated total cash prize of $ 1.10 to $ 1.20 per pound of copper to be paid, net of byproduct credits.
“Final piece of the opinion that it is appropriate for caution in respect of its ability to achieve its guidance range, unless production is higher than the rated capacity for the remainder of the year,” the company said.
Shares of closed keys from C $ 2.81 Wednesday on the Toronto Stock Exchange.
source:reuters
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