Peruvian Metals Corp. announced a corporate update detailing increased production at its Aguila Norte plant, addressing market activity from 2024, and its shift towards the gold sector via the Palta Dorada Project. The company also reported significant share reduction from major shareholder Tartisan Nickel, which impacted its stock price. Despite this, Peruvian Metals maintains strong financial health and is exploring further development opportunities.
Peruvian Metals Corp. recently provided an important corporate update regarding its activities and business direction. The company reported production results from January and February 2025 at the Aguila Norte processing plant, of which it holds an 80% stake, and addressed market activities from 2024. Peruvian Metals also participated in various investment conferences in Canada, including the Prospectors and Developers Association of Canada (PDAC), where they received inquiries concerning the company’s share price.
According to Tartisan Nickel Corp.’s interim financial report on March 3, 2025, Tartisan significantly reduced its holdings in Peruvian Metals by selling 26,620,500 shares during the nine-month period ending December 31, 2024. The report indicated that Tartisan’s shareholding decreased from 26.69% to 2.81% during that time, with Tartisan stating that they were selling shares to address cash flow requirements. The management of Peruvian Metals believes this selling has negatively impacted their share price.
Despite market challenges, Peruvian Metals Corp. remains financially robust, as evidenced by their good cash flow. The company is steadfast in its intention to develop the Palta Dorada Project, a gold property it owns fully in Northern Peru. This project is readily accessible from the Aguila Norte Plant and is known for its high-grade gold content. Recent improvements include re-establishing access roads to the underground workings.
In the first two months of 2025, the Aguila Norte Plant processed 6,108 tonnes of minerals from both the company and third parties, marking a remarkable 35.49% increase compared to the total of 4,508 tonnes processed in 2024. Peruvian Metals continues to explore additional mineral feed sources in the area, potentially including the construction of a carbon-in-pulp (CIP) plant, although there are no guarantees regarding the economic viability of these projects.
For further technical insights, Jeffrey Reeder, P. Geo., serves as the Qualified Person overseeing the disclosures in compliance with National Instrument 43-101. Peruvian Metals Corp. operates as a mineral processing company, seeking to expand its operations and develop further precious and base metal properties within Peru. The Aguila Norte processing plant has the necessary environmental permits to enhance its capacities beyond the current daily limit of 100 tonnes.
Should you require more information, please reach out to Jeffrey Reeder, the C.E.O., at (647) 302-3290 or via email at jeffrey.reeder@peruvianmetals.com.
Additionally, please be reminded that the TSX Venture Exchange does not bear responsibility for the adequacy or accuracy of this announcement. Investors should also be aware of the inherent uncertainties within the forward-looking statements made in this document, as diverse risks could significantly alter anticipated results.
In summary, Peruvian Metals Corp. has provided a comprehensive update on its production achievements and strategic direction within the mining sector. While the company has faced market challenges related to share sales by a significant shareholder, it remains financially stable and is focused on expanding its operations in the gold sector through the Palta Dorada Project. Increased mineral processing output and ongoing exploration efforts further underscore the company’s commitment to growth in the Peruvian mining landscape.
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