- Altiplano Metals (APN) reported its May 2022 operating results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile
- Farellon produced approximately 3,432 tonnes of mineralized copper-gold material and shipped and processed approximately 2,750 tonnes during the month of May
- Revenue generated in May was approximately US$377,545 after processing costs, representing the highest monthly revenue figure recorded since Q1 2018
- Altiplano Metals is a Canadian mineral development company
- Altiplano Metals Inc. (APN) was up 4.76 per cent, trading at C$0.22 per share at 3:05 pm ET
Altiplano Metals (APN) reported its May 2022 operating results from the Farellon Copper-Gold (Cu-Au) mine near La Serena, Chile.
Farellon produced approximately 3,432 tonnes of mineralized copper-gold material and shipped and processed approximately 2,750 tonnes during the month of May.
Operating results
- The amount of processed material improved by 23 per cent over the previous figure of 2,242 tonnes in April.
- The May copper grade at 2.0 per cent decreased slightly from 2.07 per cent in the previous month.
- The Hugo Decline advance to the 352 m has been completed. The company expects this level to be operational in the next two weeks. These subdrifts will provide operational access to the high-grade mineralized zone in NE and SW directions on two new working faces.
Revenue generated in May was approximately US$377,545 after processing costs, representing the highest monthly revenue figure recorded since Q1 2018. May revenue noted a 19 per cent improvement over April’s revenue of US$317,738.
At May month end, the Farellon site had an additional 380 tonnes of stockpile with 1,180 tonnes in process at ENAMI. The revenue from this material will be credited in the following months upon completion of processing.
El Peñón processing facility has a total storage of 1,850 tonnes in advance of startup. The newly mined material will be split and shipped between ENAMI and El Peñón. This will help maximize revenue and manage cash flows as the mill prepares to commence operation.
Alastair McIntyre, the CEO of Altiplano Metals commented on the results.
“Its pleasing to see the continuing trend of improved revenues as we advance to deeper high grade operating levels at Farellon. Our improving output at Farellon combined with record revenue figures bodes well as we transition to the mill start up at El Peñón expected in a few weeks.”
Altiplano Metals is a Canadian mineral development company. It focuses on acquiring projects with significant potential for advancement from discovery through to production. The company has a diversified portfolio of assets including an operating copper/gold/iron mine, development of near-term producing gold/copper projects, and exploration land packages with district-scale potential. Altiplano is part of the Metals Group of companies
Altiplano Metals Inc. (APN) was up 4.76 per cent, trading at C$0.22 per share at 3:05 pm ET.