Peruvian Metal's Aguila Norte Processing Plant Achieves Record First Quarter 2022 Production

Peruvian Metal's Aguila Norte Processing Plant Achieves Record First Quarter 2022 Production

Peruvian Metals Corp. (TSXV: PER) (OTC PINK: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update on mineral processing at its 80% owned Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.

During the first quarter of 2022 the Plant completed several mineral campaigns processing a total of 7,875 metric tonnes (mt). This year's first quarter production exceeded production levels in the first quarter of 2021 (5,934 mt) by more than 32%. The Company is extremely pleased with the record first quarter production at a time when the rainy season in Peru has affected mining operations. The completion of additional concentrate drying areas in 2021 allowed for more material to be processed. Due to the improving weather conditions and with the expanded drying capacity, the Company anticipates production levels will improve, resulting in increased revenue over the remainder of 2022. The Company is also pleased to announce that it has started to purchase mineral from miners and this mineral is expected to be processed shortly.

Jeffrey Reeder, CEO of Peruvian Metals, comments: "We are extremely pleased to record our best first quarter at Aguila Norte. Normally this is a time where Peruvian miners and explorers are affected by the rainy season with less mineral available. We fully expect that production levels will increase for the remainder of the year and expect a record year in 2022. We intend to process purchased mineral shortly and ship oxide gold material from our 50% owned Palta Dorada project to a third-party toll mill for sale. "

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.

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/120018

News Provided by Newsfile via QuoteMedia

PER:CA
The Conversation (0)
Peruvian Metals Continues Record Throughput at Its Aguila Norte Processing Plant

Peruvian Metals Continues Record Throughput at Its Aguila Norte Processing Plant

Peruvian Metals Corp. (TSXV: PER) (OTCQB: 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 third quarter of 2022, the Plant processed 6,871 tonnes for an accumulative total for 2022 of 21,757 tonnes. The 2022 year-to-date production represents an increase of 10% compared to the same period for 2021. Production during the month of September was lower compared to the previous months due to scheduled maintenance and replacing several key components of the mill. The Plant is now fully operational and processing material and production for the fourth quarter is expected to exceed previous quarters.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Peruvian Metals Achieves Record Throughput at Aguila Norte and Achieves Positive Adjusted EBITDA During the First Half of 2022

Peruvian Metals Achieves Record Throughput at Aguila Norte and Achieves Positive Adjusted EBITDA During the First Half of 2022

Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide a financial and production update from mineral processing at its 80% owned Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.

During the first half of 2022, the Company reported record revenue and a positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $281,737. Mineral processing revenue increased 32.4 % during the first six months of the year and current liabilities (not including reclaiming costs) decreased 27.6% from the same period in 2021.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Peruvian Metals to Extend Warrants

Peruvian Metals to Extend Warrants

Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (the "Company") announces that the Company intends to amend the terms of 2,334,000 outstanding warrants of the Company (the "Warrants") that are set to expire September 9, October 6, and October 31, 2022.

The Company has made an application to the TSX Venture Exchange (the "TSXV") to extend the expiry date for all of the Warrants to December 15, 2022. All other terms of the Warrants will remain the same.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Gold bear and bull fighting over bars of gold.

Gold Price 2024 Year-End Review

Gold saw incredible price gains in 2024, rising from US$2,000 per ounce to close to US$2,800.

Various factors have lent support, including 75 basis points worth of interest rate cuts from the US Federal Reserve, geopolitical instability in Eastern Europe and the Middle East and uncertainty in global financial markets.

Of course, it wasn't all an upward climb for gold — following the US presidential election, Donald Trump emerged victorious, and the gold price experienced volatility as investors flocked to Bitcoin.

Keep reading...Show less
Marc Ducler, managing director of Astral Resources.

Astral Resources Eyes Gold Production at Mandilla Project in Western Australia

Australia-based gold explorer and developer Astral Resources (ASX:AAR) is riding the strong gold price wave as it ramps up exploration and moves toward a prefeasibility study — and ultimately production — at its flagship Mandilla project.

Managing Director Marc Ducler outlined the positive economics for Mandilla, which is in Western Australia. He said they have improved significantly since a scoping study for the project was released in September 2023.

“We were (projecting) a net present value of AU$440 million. And that's at AU$2,750 (for the gold price). You move it to the gold price today, and we have a project that has AU$1.2 billion in net present value and is capable of providing over AU$285 million worth of free cashflow every single year,” he explained.

Keep reading...Show less
Gold bar, stock charts.

Top Stories This Week: Powell Pits Gold Against Bitcoin, China Bans US Critical Minerals Exports

The gold price was rangebound this week, trading between about US$2,625 and US$2,655 per ounce.

Market watchers were waiting for the latest US jobs data, which was released on Friday (December 5). The US Department of Labor's report shows that 227,000 jobs were added in November, ahead of the 200,000 expected.

The increase is far higher than the rise of just 12,000 in October, a month impacted by hurricanes and a labor strike.

Keep reading...Show less
Gold bars in mini shopping cart.

S2 Resources Signs Earn-in Deal with Valkea for Three Gold Projects in Victoria

S2 Resources (ASX:S2R) said Wednesday (December 4) that it has signed an earn-in deal with Valkea Resources (TSXV:OZ,OTCQB:OZBKF) as part of the recently completed sale of its Finnish assets to Valkea.

S2 has gained the right to earn an 80 percent interest in Valkea’s Silverspoon, Yeungroon and Ballarat West gold projects in Victoria, Australia, by providing funding of AU$1.2 million within four years.

Silverspoon holds one granted exploration licence and is located 15 kilometres southeast of the Fosterville gold mine, while Yeungroon comprises three licences and covers 728 square kilometres near Charlton and Wedderburn.

Keep reading...Show less

Latest Press Releases

Related News

×