Sept 9 (Reuters) - Capstone Mining Corp CS.TO :
* Announces spending cuts in response to market conditions
* Says lowered 2015 operating mine site capital expenditures relative to
previous guidance by approximately $20 million
* Says overall production guidance remains unchanged for 2015
* Capstone will discontinue all work on its santo domingo project, and will
downsize the Santiago and diego de almagro offices in Chile
* Will reduce mine site operating costs by $20 million over the second half of
2015
* Says in light of the current copper price environment it has lowered 2015
operating mine site capital expenditures
* Says of 31 employees at santo domingo, 23 positions are affected
* Says one-time restructuring charge of approximately $3.2 million on a 100%
basis will be expensed in the third quarter
* We believe most prudent course of action is to put the project and completion
of the updated feasibility study on hold"
* Overall 2015 cost guidance has been reduced from $2.00-$2.10 per pound of
payable copper produced to $1.95-$2.05 per pound
* 2015 cost guidance reduction reflects expenditure reductions as well as
efficiencies in operations at pinto valley and minto
* Source text for Eikon ID:nCNW0WZXTa
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