Business
Peruvian Metals Achieves Record Throughput at Aguila Norte and Achieves Positive Adjusted EBITDA During the First Half of 2022
Edmonton, Alberta--(Newsfile Corp. - September 12, 2022) - Peruvian Metals Corp. (TSXV: PER) (...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Achieves Record Throughput at Aguila Norte and Achieves Positive Adjusted EBITDA During the First Half of 2022Edmonton, Alberta--(Newsfile Corp. - September 12, 2022) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (\"Peruvian Metals\" or the \"Company\") is pleased to provide a financial and production update from mineral processing at its 80% owned Aguila Norte Processing Plant (\"Aguila Norte\" or the \"Plant\") located in Northern Peru.During the first half of 2022, the Company reported record revenue and a positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $281,737. Mineral processing revenue increased 32.4 % during the first six months of the year and current liabilities (not including reclaiming costs) decreased 27.6% from the same period in 2021. During the first eight months of 2022, the Plant processed a record 19,697 tonnes of mineral in twenty-eight mineral campaigns compared with 16,920 tonnes processed in 2021. The 2022 year-to-date production represents an increase of 16 per cent, compared with the same period for 2021. The Company is also pleased to announce that during the month of July it completed the sale of the concentrates announced in the news release dated June 13, 2022. These concentrates amounting to 22.66 tonnes of Lead-Silver-concentrate, 50.57 tonnes of Zinc concentrate, and 52.98 tonnes of Copper concentrate were sold to Trading Partners Peru S.A.C generating $179,877 US in revenues. The mineral purchase, processing, and freight costs of the concentrates totaled $134,475 US, resulting in a favourable profit margin.During the month of July, the Company purchased 295 tonnes of Lead-Zinc-Silver mineral, then generated and sold to Trading Partners Peru S.A.C 19.85 tonnes of a Lead-Silver concentrate grading 163.67 oz Ag/MT, 39.56 % lead and 20.64% zinc and 40.54 tonnes of a Zinc concentrate grading 47.7% zinc and 7.78 oz Ag/MT. The sale generated revenues of $109,435 US in which mineral purchase, processing, and freight costs totaled $74,133 US.Table 1To view an enhanced version of Table 1, please visit:https://images.newsfilecorp.com/files/3210/136733_af75bd4ac4bf0be3_002full.jpgTable 2To view an enhanced version of Table 2, please visit:https://images.newsfilecorp.com/files/3210/136733_af75bd4ac4bf0be3_003full.jpgJeffrey Reeder, Chief Execu...