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Peruvian Metals Production Update for the First Half of 2024 at Aguila Norte Processing Plant and the Closing of the Private Placement
Edmonton, Alberta--(Newsfile Corp. - July 8, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: D...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"\nPeruvian Metals Production Update for the First Half of 2024 at Aguila Norte Processing Plant and the Closing of the Private PlacementEdmonton, Alberta--(Newsfile Corp. - July 8, 2024) - Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (\"Peruvian Metals\" or the \"Company\") is pleased to provide an update regarding the mineral processing at its 80-per-cent-owned fully permitted Aguila Norte processing plant (\"Aguila Norte\" or the \"Plant\") located in Northern Peru. During the first six months of 2024 the Plant processed 14,869 tonnes of third-party mineral, compared with 13,786 tonnes in 2023 and 14,886 tonnes in 2022. The 2024 year-to-date production represents an increase of 7.9 % compared to the same period for 2023, and 0.1 % decrease compared to the same period for 2022. The Plant was at capacity in April and May. The Company anticipates a further increase in production during the remainder of 2024 and expects to report a record year of production.Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: \"We are pleased that we are on track for a record processing year in 2024 at Aguila Norte. Our effort to add quality prospective mineral concessions by applications and by outright purchase continues and is funded by cash flow from the Plant. The use of proceeds from our financing will be used to advance the recently acquired Mercedes property and the prospective Palta Dorada Au-Ag-Cu property. The Company is planning to enter into the Peruvian gold space and is reviewing new sites for the ideal location to build a Carbon in Pulp gold processing plant. The Company is in a unique position compared to many in the junior mining space as we continue to strengthen the Company's financial position and advance our mineral assets with minimal share dilution.\"The Aguila Norte processing plant has an environmental permit (\"IGAC\") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes per day level. 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.Closing of Private PlacementPeruvian Metals Corp. has closed its previously announced private placement by issuing 3,929,286 Units at $0.07 cents...