October 6, 2011 / 11:39 AM / in 7 years

UPDATE 2-Capstone to move to higher copper grades in Q4

* Q4 output at Cozamin to meet or exceed Q3 levels

* On target to meet FY output outlook

* Shares jump 6 pct (Adds detail on outlook, share movement)

Oct 6 (Reuters) - Capstone Mining said fourth-quarter copper output at its Cozamin mine in Mexico could meet or exceed July-September levels as it looks to produce from the higher grade Avoca area in the region, sending its shares up 6 percent.

Vancouver-based Capstone also expects copper grades to increase in the fourth quarter at Minto, its other operating mine in Yukon, Canada.

The miner, which also has two development projects in Chile and British Columbia, said it is on course to meet its full-year production target of 80-85 million pounds of copper in concentrates.

However, combined production from both mines fell to 20.6 million pounds of copper in the third quarter, from 21.2 million pounds in the April-June period, hurt by lower grades.

The company’s shares were up 4 percent at C$2.80 on Thursday on the Toronto Stock Exchange. They had earlier touched a high of C$2.84. (Reporting by Gowri Jayakumar in Bangalore; Editing by Viraj Nair)

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