VANCOUVER, June 24, 2019 /CNW/ - Capstone Mining Corp. ("Capstone") (TSX:CS) reported that operations have restarted at its Pinto Valley mine ("Pinto Valley" or the "Mine"). Since announcing the temporary curtailment of operations on June 20th, advancements by fire crews have now allowed for operations to safely restart.
At over 96,000 acres, the Woodbury Fire remains a serious concern and the Southwest Area Incident Management Team ("SAIMT") continues to conduct operations in the area of Pinto Valley. We remain in close contact with SAIMT to stay informed and connected to any changes in firefighting strategy.
"We are very appreciative of the efforts of all the emergency responders who have been battling the Woodbury Fire and for the coordination between SAIMT and our team at Pinto Valley, which now allows for the safe restart of operations," said Darren Pylot, President and CEO of Capstone. "Our site has not sustained any physical damage, and there have been no reports of any serious injuries to frontline personnel during these intensive activities. This is a testament to the professionalism and poise shown by all those involved in this multi-jurisdictional emergency response effort."
Capstone does not expect that the curtailment will impact our ability to meet operating or cost guidance at Pinto Valley. With fire crews still conducting operations in the area to address the ongoing risk of the Woodbury Fire, there may be some impact to day-to-day operations at Pinto Valley. However, as containment of the fire continues to improve, we anticipate being able to return to normal operating levels shortly. The health and safety of our people is our top priority and we will communicate any changes to these plans should the need arise.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin polymetallic mine in Zacatecas State, Mexico. In addition, Capstone has the large scale 70% owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources Corporation, as well as a portfolio of exploration properties. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. We are committed to the responsible development of our assets and the environments in which we operate. 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 Capstone 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 our expectations or beliefs regarding future events. Forward-looking statements include, but are not limited to, statements with respect to the potential impact of the Woodbury Fire on the infrastructure and operations of the Pinto Valley Mine. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "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 "will", "should", "expect" and "anticipate". By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, amongst others, risks related to inherent hazards associated with the operation and closure of mining projects, future prices of copper and other metals, changes in general economic conditions, 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 our actual results, performance or achievements to differ materially from those described in our forward-looking statements, there may be other factors that cause our results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements will prove to be accurate, as our actual results, performance or achievements could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on our forward-looking statements.