Business
Kuya Silver Signs Toll Milling Agreement with Nearby San Valentin Plant and Outlines Plans for Bethania Development
Toronto, Ontario--(Newsfile Corp. - October 10, 2023) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleas
About this update from Kuya Silver Corporation
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - October 10, 2023) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the \"Company\" or \"Kuya Silver\") is pleased to present an update on the development activities at Bethania Mine. Kuya Silver is pleased to announce that it has signed a toll milling agreement with Compañía Minera San Valentin (\"CMSV\"), to process run-of-mine (\"ROM\") material at their plant, located 20 km by road from the Bethania project. This same plant processed material from Bethania between 2013 and 2015, and has a nameplate capacity of 500 tonnes per day. Kuya Silver is also pleased to provide a brief update detailing its plans to commence underground reconditioning and development activities at Bethania, which will be required to start production. Toll Milling Agreement Summary CMSV is to provide toll milling services to Minera Toro de Plata (\"MTP\", Kuya Silver's Peruvian subsidiary) and will have up to three concentrate production circuits available for production, specifically, silver-lead, zinc and copper-silver. The terms in the agreement are guaranteed for twenty-four months, and renewable upon mutual agreement, beginning from the date of the first delivery of material to the mill. MTP may designate up to five personnel to be present at site to monitor the process, quality controls, etc. MTP must deliver batches of 1000 tonnes of material or larger, and subject to advanced coordination between the parties, MTP will have priority access to the plant. There is no minimum production obligation for Kuya Silver. Toll milling services provided by CMSV include on-site logistics, such as temporary storage, plant security, quality control analysis at the on-site laboratory, etc. Christian Aramayo, Kuya Silver's Chief Operating Officer, remarked, \"We are very excited to announce this new agreement and partnership with CMSV, and we are pleased to be able return to a plant to which our team has familiarity and previous experience - this is a significant advantage for the project. The terms of the agreement are very favourable and provide us the ability to control costs while having significant oversight and input over the entire concentrate production process. The trucking distance to CMSV is considerably shorter than other options we have available, which we expect should lead to material cost saving...