Peruvian Metals Corp. announces production results for early 2025 and discusses market activities, highlighting share sales by Tartisan Nickel Corp. that affected share prices. The company is shifting focus to gold exploration with the Palta Dorada Project while noting strong financial health and increased processing output at the Aguila Norte Plant.
Peruvian Metals Corp. has issued a corporate update regarding its operations and market activity for 2024, along with production results for January and February 2025 at the 80%-owned Aguila Norte processing plant in Northern Peru. In Q1 2025, the company participated in two Canadian investment conferences and showcased its capabilities at the Prospectors and Developers Association of Canada (PDAC) conference in early March. During this event, management noted shareholder inquiries concerning the company’s share price, largely influenced by substantial share sales by Tartisan Nickel Corp. in the prior year.
The share actions by Tartisan, detailed in their interim financial report, indicate a significant reduction in their holdings, which fell from 26.69% to 2.81% by the end of 2024. Tartisan’s report claimed they needed to “continuously sell the [Peruvian Metals] shares to meet cash flow requirements…”. Peruvian Metals feels these sales adversely impacted their share price. The Company, however, highlighted its financial strength and robust cash flow, encouraging interested parties to review their disclosures on SEDARPLUS.
Looking forward, Peruvian Metals aims to expand into the gold sector, specifically focusing on its 100% owned Palta Dorada Project, which is noted for high-grade gold deposits. Access roads to the underground workings have been reinstated, and the company is investigating additional opportunities for mineral feed and potential locations for a carbon-in-pulp plant. However, it is important to note that there are no guarantees regarding the economic viability of the Palta Dorada property or the establishment of a CIP plant.
In early 2025, the Aguila Norte Plant processed 6,108 tonnes of mineral, surpassing 2024 and 2023 figures and reflecting an increase of 35.49% compared to last year. Jeffrey Reeder, P.Geo., serves as the Qualified Person overseeing the technical aspects of the company’s projects, as stipulated by Canadian regulations.
Peruvian Metals is a Canadian exploration and processing firm that seeks to provide toll milling services while producing high-grade concentrates from mineral purchases. The Aguila Norte Plant, possessing an environmental permit from the Peruvian government, is poised for potential operational expansion beyond its current capacity of 100 tonnes per day.
In summary, Peruvian Metals Corp. has provided a detailed update on its corporate strategy and production results, indicating robust performance amid market fluctuations due to share sales by a significant stakeholder. The Company’s entry into the gold sector marks a strategic pivot towards high-grade exploration, with plans for further operation despite inherent uncertainties in the mining industry. Stakeholders are urged to review the Company’s financial disclosures while remaining cognizant of the forward-looking statements regarding future endeavors.
Original Source: www.newsfilecorp.com
