August 15, 2011 / 9:53 PM / 6 years ago

UPDATE 1-Capstone adj Q2 profit meets; backs FY output view

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Aug 15 (Reuters) - Canada’s Capstone Mining posted a second-quarter adjusted profit that met market expectations, and the copper producer forecast total capital costs of $1.24 billion for its Santo Domingo iron oxide, copper and gold mine in Chile.

For April-June, Vancouver-based Capstone earned $15.5 million, or 7 cents a share, compared with $44.7 million, or 23 cents a share, a year ago.

Adjusted profit was 8 cents a share, in line with analysts’ estimates, according to Thomson Reuters I/B/E/S.

Revenue rose 14 percent to $78.9 million.

The copper miner also backed its full-year production target of 80-85 million pounds of copper in concentrates, helped by better output at its Mexico-based Cozamin mine and Yukon, Canada-based Minto mine.

Capstone’s shares closed at C$3.23 on Monday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)

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