ebidta

Peruvian Metals Achieves Positive Adjusted-EBITDA During the First Half of 2021 and Restarts Exploration at Minas Maria Norte

Peruvian Metals Corp. (TSXV: PER) (OTC: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update regarding the mineral processing at its 80-per-cent-owned fully permitted Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.

During the second quarter of 2021, the Company is also pleased to report second quarterly positive adjusted-EBITDA (see table below), representing a second quarterly positive EBITDA in 2021. During the second quarter, the Company invested $85,675 US into the Palta Dorada Au-Ag-Cu project completing our 50% earn-in with Rio Silver Inc. Furthermore, the yearly holding costs due June 30th of $53,180 US were paid to keep many of the Company's concessions in good standing. Due to the complicated social conditions in the Mansa Musa project area the Company and its partner GEXEG S.A.C decided not to renew the concessions. Third quarter EBITDA performance is expected to reflect similar performance with continued investments into the Company's wholly owned projects.

During the month of August, Peruvian Metals processed 2,190 metric tonnes ("mt") of material for third parties. As of August 31st, the Plant has processed 16,560 tonnes in 2021 exceeding total tonnes processed in 2020 of 13,185 tonnes. The Company expects a record year for 2021 and is on track to exceed 2019's total processing record of 18,510 tonnes.

Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "We are pleased that we are on track for a record processing year in 2021 at Aguila Norte. We are continuing to report positive adjusted-EBITDA and we have started to deploy our income to advance our other projects in Northern Peru. Investment in our properties is intended to provide further feed for the Plant which will result in increased profit margins on each tonne processed at Aguila Norte."

The Company also intends to re-start exploration at Minas Maria Norte located in the Huachocolpa Mining District. New recent developments on Silver X Mining's prospective Tangana property have created a renewed interest in the area. The Minas Maria Norte project is located less than three kilometres from Tangana. Previous sampling and mapping showed a gold rich polymetallic vein system and is summarized in the Company's press release dated July 21st, 2020. A field crew is scheduled to be mobilized to the area at the end of the month to conduct further sampling and commence community introductions.

The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes per day level. Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure contained in this news release.

Adjusted EBITDA - UNAUDITED
Three Months Ended June 30,
2021 2020 2019
Net (loss) income $ (267,582) $ (191,515) $ (142,758)
Add
   Interest expense $ 3,782 $ 3,838 $ 6,706
   Share-based compensation $ - $ - $ -
   Non-operating loss (gain) on investments $ 220,573 $ 2,370 $ 21,100
   Gain on disposal of exploration subsidiary $ - $ - $ -
   Non-operating property impairment charge $ - $ - $ -
   Amortization $ 59,574 $ 58,118 $ 57,885
   Accretion expense $ 3,093 $ 2,945 $ 2,058
 
Adjusted EBITDA* $ 19,440 $ (124,244) $ (55,009)
 
   
Six Months Ended June 30,
2021 2020 2019
 
Net (loss) income $ (330,759) $ 577,598 $ (917,000)
Add
   Interest expense $ 7,495 $ 7,765 $ 13,338
   Share-based compensation $ 28,541 $ 28,961 $ -
   Non-operating loss (gain) on investments $ 303,982 $ - $ 37,630
   Gain on disposal of exploration subsidiary $ - $ (1,033,689) $ -
   Non-operating property impairment charge $ - $ - $ 582,051
   Amortization $ 118,374 $ 116,236 $ 117,106
   Accretion expense $ 6,186 $ 5,890 $ 4,116
 
Adjusted EBITDA* $ 133,819 $ (297,239) $ (162,759)


* adjusted to also include non-cash share-based compensation and non-cash loss/(gain) on investments and exploration subsidiary


About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .

Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange : Symbol "PER"
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com Email: jeffrey.reeder@peruvianmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96683

News Provided by Newsfile via QuoteMedia

Peruvian Metals

Peruvian Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
abx tsx

Peruvian Metals

Positive Cashflow and First-Mover Advantage in Peru

Positive Cashflow and First-Mover Advantage in Peru Keep Reading...
Lahontan Gold (TSXV:LG)

Lahontan Gold Eyes Resource Update as Production Nears

Lahontan Gold (TSXV: LG,OTCQB:LGCXF) is drawing investor attention as it advances toward renewed production at its historic Santa Fe Mine in Nevada. A revised mineral resource estimate is expected soon, offering a potential catalyst, according to a recent report by News Financial.... Keep Reading...
Peruvian Metals Invites Shareholders and Investment Community to Visit Them at Booth 2624B at PDAC 2026 in Toronto, March 3-4

Peruvian Metals Invites Shareholders and Investment Community to Visit Them at Booth 2624B at PDAC 2026 in Toronto, March 3-4

Peruvian Metals Corp (TSXV: PER,OTC:DUVNF) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to invite investors and shareholders to Booth #2624B at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Tuesday,... Keep Reading...
OTC Markets Group Welcomes RUA GOLD INC. to OTCQX

OTC Markets Group Welcomes RUA GOLD INC. to OTCQX

OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Rua Gold INC. (TSX: RUA,OTC:NZAUF; OTCQX: NZAUF), an exploration company, has qualified to trade on the OTCQX® Best Market. Rua Gold INC. upgraded to OTCQX... Keep Reading...
RUA GOLD Begins Trading on the OTCQX Best Market in the United States

RUA GOLD Begins Trading on the OTCQX Best Market in the United States

Rua Gold INC. (TSX: RUA,OTC:NZAUF) (NZ: RGI) (OTCQX: NZAUF) ("Rua Gold" or the "Company") is pleased to announce that that its common shares have begun trading today on the OTCQX® Best Market under the symbol 'NZAUF'. U.S. investors can find current financial disclosure and Real-Time Level 2... Keep Reading...
American Eagle Expands South Zone 750 Metres to the East and Further Demonstrates Continuity Within High-Grade Core, Intersecting 618 Metres of 0.77% CuEq from Surface

American Eagle Expands South Zone 750 Metres to the East and Further Demonstrates Continuity Within High-Grade Core, Intersecting 618 Metres of 0.77% CuEq from Surface

Highlights: 618 m of 0.77% CuEq from surface in NAK25-80, linking high grade, at-surface gold rich mineralization to high-grade core at depth. Continuity from surface to depth: NAK25-80 builds on prior long-intervals, including NAK25-78: 802 m of 0.71% CuEq from surface, and strengthens... Keep Reading...
Pause in Trading

Pause in Trading

Zeus Resources Limited (ZEU:AU) has announced Pause in TradingDownload the PDF here. Keep Reading...
Peruvian Metals

Peruvian Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Interactive Chart

Latest Press Releases

Related News