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Peruvian Metals Continue to Achieve 100% Throughput at its Aguila Norte Plant and Reports Positive Adjusted EBITDA for Third Quarter
Edmonton, Alberta--(Newsfile Corp. - December 9, 2021) - Peruvian Metals Corp. (TSXV: PER) (O...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Continue to Achieve 100% Throughput at its Aguila Norte Plant and Reports Positive Adjusted EBITDA for Third QuarterEdmonton, Alberta--(Newsfile Corp. - December 9, 2021) - Peruvian Metals Corp. (TSXV: PER) (OTC Pink: DUVNF) (\"Peruvian Metals\" or the \"Company\") is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (\"Aguila Norte\" or the \"Plant\") located in Northern Peru.During the month of November, Peruvian Metals processed 2,997 metric tonnes (\"tonnes\") of material for third parties. This amount exceeds the previous monthly record of 2,976 tonnes in October 2021. As of November, the Plant has processed 25,799 tonnes in 2021 exceeding total tonnes processed in 2019 of 18,510 and 2020 of 13,185 tonnes. The Company is also pleased to report third quarter positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), representing a third consecutive quarterly positive EBITDA in 2021. Fourth quarter EBITDA performance is expected to reflect similar performance with continued investments into the Company's wholly owned projects. To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/3210/107205_75d6744af449d850_002full.jpg.Jeffrey Reeder, CEO of Peruvian Metals, comments: \"We are again pleased to achieve full operating capacity. With the cash flow being generated, the Company has significantly improved its cash position while reducing its liabilities. The Company is reviewing its 100% owned mineral concessions to either establish secure mineral feed for the plant or to sell/JV our properties to third parties.\" Aguila Norte has an environmental permit (\"IGAC\") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 mt per day level. With the steady processing of third-party mineral, the Company is continuing to improve our balance sheet and continuing negotiations to purchase and secure long-term sources of mineral.Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure contained in this news release.About Peruvian Metals Corp.Peruvian Metals Corp. is a Canadian Exploration and Mineral P...