Capstone Mining (CS.TO) has released an update on its 100% owned Pinto Valley copper project located in Arizona, which it acquired from BHP Billiton (NYSE:BHP) just two months ago. According to Capstone’s CEO, the ramp up procedure is going extremely well and in the first 51 days since acquiring the asset, Capstone already produced 18.8 million pounds of copper.
This means that it’s very likely the company will beat its production guidance of 22-27 million pounds of copper. If Capstone can continue the performance it recorded in November, it’s not unlikely the company will produce approximately 30 million pounds of copper for this year, which obviously bodes well for the 2014 production guidance at Pinto Valley.
Disclosure: The author holds no position in Capstone Mining. Please see our disclaimer for current positions.