Business
Altaley Mining Corporation: No Operational or Financial Reasons for Current Share Price Decline
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2021) - Altaley Mining Corporation's (...
About this update from Luca Mining Corp
[{"type":"text","content":"Altaley Mining Corporation: No Operational or Financial Reasons for Current Share Price DeclineVancouver, British Columbia--(Newsfile Corp. - July 29, 2021) - Altaley Mining Corporation's (TSXV: ATLY) (OTC Pink: ATLYF) (FSE: TSGA) (\"Altaley\" or the \"Company\") management advises that there is no operational or financial reason for the decline in the Company stock trading price over the past two days. Management would like to reassure investors and shareholders that day-to-day operations at both the Campo Morado Mine and the Tahuehueto Project continue as normal.Management attributes the decline in its share trading price to the fact that the 4-month hold period on the shares issued in a private placement that closed March 29, 2021, has now expired and some investors are taking profit by selling shares to recover their initial investment in the private placement.Management views this as a temporary situation as 2021 operating results remain strong at Campo Morado (see press release dated July 15, 2021, disclosing US$16.2 million revenue for Q2, 2021), and construction efforts are on track and progressing well at Tahuehueto. About Altaley Mining CorporationAltaley Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects.Altaley's Tahuehueto Gold Mine project is in north-western Durango State, Mexico where construction has been advanced to an estimated 65% of completion. With the recently announced US $25 million funding package, Altaley has the funding available to finish construction of its 1,000 tonne per day processing facility and related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at Tahuehueto. The Company is targeting initial pre-production by the end of 2021 and ramping up to full production capacity during Q1 2022.Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average rate of 2,150 tonnes per day and is estimated to be Mexico's 6th largest zinc producer.Visit: www.altaleymining.com On Behalf of the Board of Directors(signed) \"Ralph Shearing\"Ralph Shearing, P. Geol, President and DirectorCAUTIONARY NOTE REGARDING PRODUCTION DECISIONS AND FORWARD-LOOKING STATEMENTSStatements contained in this news release that are not historical facts...