Day: April 26, 2016

“In the first quarter of 2016 our operating cash flow was $32.2 million. Our cash balance increased $20 million to $121.1 million, reducing our net debt to $228.2 million and our senior secured leverage ratio to 2.1 at quarter end, down from 2.6 at the end of 2015,” said Darren Pylot, President and CEO of Capstone. “Our continued focus on mine site cost efficiencies and optimization were demonstrated in the first quarter with Pinto Valley posting the second straight quarter of new daily, monthly and quarterly throughput records and exceeding targeted throughput for the quarter.”

Kootenay President and CEO James McDonald stated: “We are delighted with Pan American’s vote of confidence in not only our Promontorio Mineral Belt assets, but also the La Cigarra opportunity we have acquired through the business combination with Northair Silver Inc. After the closing of the Second Tranche Investment, we will have a strong cash position to advance the La Cigarra project and pursue more potential consolidation and growth opportunities that will be accretive to the Kootenay shareholders.”