The following is a summary of the Capstone Copper Corp. (CSCCF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Capstone Copper Corp announced Q4 copper production of 44,100 tons, resulting in their strongest earnings quarter of the year. They achieved revenues of $354 million for the quarter.

• The consolidated C1 cash cost was $2.67 per payable pound, the lowest of the year, indicating improved margins.

• Adjusted EBITDA in Q4 increased by 41% to $88.3 million due to stronger operations with 10% higher production, indicating improved returns.

• The company raised $356 million of equity, boosting their year-end liquidity to $353 million.

• EBITDA projections for 2024 indicate a doubling from 2023 levels, which suggests robust future earnings, further enhanced by the potential $1 billion of annual EBITDA at full capacity of the MVDP, assuming a $4 copper price.

• Capstone aims for a net leverage below 1, providing additional liquidity for growth.

Business Progress:

• The corporate technical team and general management were expanded, potentially improving their strategic and operational capabilities.

• The successful construction completion of the MVDP and the planned start-up of the Mantoverde project are expected to lower combined unit costs, increase cash flow generation, and unlock added copper production.

• Capstone began trading its shares on the Australian Stock Exchange, broadening the shareholder base and increasing access to funding.

• Their commitment to responsible operations was rewarded with the Copper Mark for both their Mantoverde and Mantos Blancos mines.

• Plans to implement the Global Industry Standards for Tailings Management at Pinto Valley by 2028 and to develop a global biodiversity standard in 2024, indicating an increased focus on environmental stewardship.

• Their ongoing efforts to improve their sustainability profile were demonstrated through the publication of the 'Growing Responsibly' report, and they plan to release more sustainability data and a modern slavery report, enhancing transparency for investors concerned with ESG issues.

More details: CAPSTONE COPPER CORP IR

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