Of the shares sold, over 56.5 million were issued by Capstone for C$356.2 million ($265m), and the remaining 11.9 million were sold by Orion for approximately C$75 million ($55m). Capstone did not receive any proceeds from the secondary sale of shares by Orion.
As Capstone noted in its Feb. 1 release, net proceeds of the offering will be used to advance its Chilean copper developments, notably the Mantoverde optimized project and Santo Domingo detailed engineering, as well as for future exploration programs.
Mantoverde is an open-pit mine operation located in the Atacama region capable of producing up to 40,000 tonnes of copper cathodes from processing oxide ores alone. The company currently analyzing an expansion of the newly commissioned sulphide concentrator to optimize the operation, and a feasibility study is scheduled for completion late in H1 2024.
The Mantoverde operation is 70% owned by Capstone and 30% by Misubishi…
