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Peruvian Metals Continues Consistent Mineral Processing during July at Aguila Norte Processing Plant in Northern Peru
Edmonton, Alberta--(Newsfile Corp. - August 14, 2019) - Peruvian Metals Corp. (TSXV: PER) ("...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Continues Consistent Mineral Processing during July at Aguila Norte Processing Plant in Northern PeruEdmonton, Alberta--(Newsfile Corp. - August 14, 2019) - Peruvian Metals Corp. (TSXV: PER) (\"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 July, Peruvian Metals processed 1,887 metric tonnes (\"mt\") and crushed and stockpiled a further 1,069 mt at Aguila Norte. Processing of this crushed mineral started August 1st and has been completed as of today. Further deliveries in July resulted in an additional 1,169 mt of stockpiled material to be crushed and processed during the second half of August. Mineral deliveries are continuing. A total of fourteen mineral campaigns or batches totaling 11,499 mt have been processed since the beginning of the year. The Plant is achieving excellent recoveries and many of the mineral suppliers continue to provide the plant with their mineral. Furthermore, the Company continues to focus on identifying and negotiating with new miners on additional mineral sources that will provide improved margins for Aguila Norte. Jeffrey Reeder, CEO of Peruvian Metals, comments: \"The Company's Aguila Norte processing facility has been achieving consistent throughput since April. Our clients are pleased with the quality of concentrates being produced. The Company is continuing discussions with small and large miners to process and/or purchase large batches of mineral.\" 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 its balance sheet and is in negotiations to purchase a long-term source of mineral. Further improvements at the Plant are ongoing to increase throughput.Stock optionsThe Company also announces that a total of 1,100,000 options to purchase common shares of the Company have been granted to certain directors, officers and consultants at an exercise price of $0.05 per share, expiring on August 13, 2020. The grant is subject to regulatory approval.Jeffrey Reeder, P Geo, a qual...