Business
Altiplano Reports On Q4 2021 Results at Farellon
Edmonton, Alberta--(Newsfile Corp. - January 31, 2022) - Altiplano Metals Inc . (TSXV: APN)...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports On Q4 2021 Results at FarellonEdmonton, Alberta--(Newsfile Corp. - January 31, 2022) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the Q4 2021 results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. During Q4, 2021, the Company extracted a total 11,189 tonnes of mineralized Cu-Au material at Farellon and processed 7,254 tonnes at an average copper grade of approximately 1.75%. Sales of 267,927 pounds of copper generated approximately US$779,053 in revenue (after processing costs). At the end of December 2021, the Company had 600 tonnes in stockpiles at the Farellon site to be shipped and 1,400 tonnes of low-grade stockpiled material. The revenue from the stockpile at site will be realized in the coming months. The low grade stock will be processed at the APN El Peñón mill site at a later date to recover the value of the contained copper and iron. Total tonnes extracted and processed in Q4 decreased by 3.9% and 5.3% respectively from the previous quarter; however overall grade at 1.75%, represents a 38% increase from the third quarter. The increase in grade is attributed to accessing higher grade material in the NE sections of the mine in the 376 m, 368 m and 360 m levels with overall grade control and waste management also being a contributor. In addition, the waste removal in Q4 was 3,317 tonnes, an improvement of 140% from the Q3 total of 7,970 tonnes as focused shifted from development to extraction during Q4. CEO Alastair McIntyre comments, \"Increased revenues and grade are a testament to our focus on efficiency and sustainability improvements at Farellon. Our mining operations continue to turn out positive results quarter after quarter. Revenue generated at the Farellon operation now represents approximately US$8 million from the sale of approximately 4 million pounds of copper.\" Figure 1. Quarterly Review of US$ Revenue and Copper Pounds SoldPeriodUSD RevenueCu Pounds SoldQ1 2020$320,960188,671Q2 2020$431,906310,256Q3 2020$831,241460,384Q4 2020$576,386322,130Q1 2021$540,713257,522Q2 2021$599,711220,660Q3 2021$561,345221,518Q4 2021$779,054267,927 Figure 2. Mined, Processed, Waste Removed and Cu Grade by QuarterTo view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/4...