The parent firm of the Pinto Valley Copper Mine west of Miami,  Vancouver based Capstone Mining Corporation is reporting a profit of $29.5 million (us) dollars for 2017.  Operating cash for the year was $130 million.

Stockholders were also told copper production at its three operating  mines, Pinto Valley west of Miami, Arizona, the Cozamin  in Southern Mexico, and the Minto in the Yukon area of Canada totaled 23,417 tons last year.  The average cash cost of producing this copper was $1.98 a pound.  The realized price Capstone received for this copper sold was $2.86 a pound.

Darren Pylot, President and Chief Executive Officer for Capstone Mining Corporation said the company

was able to pay down its debt last year to $54 million from $74 million. This was achieved because of positive net income and increased cash flow for the year, he remarked.  He told shareholders for the current year ( 2018 ) Capstone expected to produce some 90,000 tons of copper at a cash cost of $1.98 a pound.

Pylot further noted the Pinto Valley Mine had a strong 4th quarter line 2017 exceeding expectations with the production of 16,160 tons of copper at a cash cost of $1.79 during the 90 day period.

And it was revealed to share holders  the  company had entered into an agreement on February 13, 2018  to sell its Minto Copper Mine in Canada to Pembridge Resources for $37.5 million plus working capital adjustments.