Business
Altiplano Reports Q3 Results with Record Income and Tonnes Processed and Achieves Eight Straight Quarters of Positive Cash Flow from Operations at Farellon
Edmonton, Alberta--(Newsfile Corp. - November 16, 2020) -   Altiplano Metals Inc . (TSXV:...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"Altiplano Reports Q3 Results with Record Income and Tonnes Processed and Achieves Eight Straight Quarters of Positive Cash Flow from Operations at FarellonEdmonton, Alberta--(Newsfile Corp. - November 16, 2020) -  Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (\"Altiplano\" or the \"Company\") is pleased to report on the Q3 2020 production results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. During Q3, 2020, the Company extracted a total 9,660 tonnes of mineralized Cu/Au material at Farellon and processed a record 10,760 tonnes at an average grade of approximately 2.0% Cu. Total tonnes processed improved in Q3 representing a 54% increase from the previous quarter. Q3 generated record revenues of approximately US$830,000 which is an increase on last quarter by 73%. In total, the Company has now received approximately US$4.9 mm in revenue. At the end of September, the Company had 300 tonnes in stockpiles at the Farellon site and an additional 1,400 tonnes in processing.CEO Alastair McIntyre comments, \"I am pleased to announce a milestone quarter in Q3 with the highest sales and processing figures generated in the company's three years operation history at Farellon. This achievement is a result of Management's focus on operating on multiple underground working levels and development headings. This approach allows us to improve our extraction efficiencies and monitor grade control.\" McIntyre further comments, \"The company has now produced greater than 2.5 mm pounds of copper and we are closing in on another important milestone of reaching $5 mm in revenue. In addition, Farellon is now in its eighth straight quarter of generating positive cash flow from operations.\"Table 1. Comparative Quarterly Review Of Farellon Output.   Ore Mined Ore Sold/Processed Cu Contained Cu grade Income   tonnes Tonnes pounds % USD Q1 2018 2,520 2,395 94,909 1.85% $148,200 Q2 2018 10,269 4,732 118,287 1.25% $210,492 Q3 2018 6,298 3,231 109,283 1.58% $274,499 Q4 2018 11,365 7,988 272,381 1.60% $695,386 Q1 2019 8,075 6,795 233,425 1.61% $589,098 Q2 2019 6,935 5,775 229,986 1.87% $578,282 Q3 2019 5,643 6,411 318,832 2.33% $460,273 Q4 2019 5,968 5,964 238,371 1.86% $381,427 Q1 2020 5,557 4,489 188,671 1.97% $320,960 Q2 2020 9,075 6,962 310,256 2.09% $477,805 Q3 2020 9,660 10,760 460,397 2.00% $827,298   81...