Peruvian Metals Continue to Achieve 100% Throughput at its Aguila Norte Plant and Reports Positive Adjusted EBITDA for Third Quarter
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)
(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.
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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 Processing company. Our business
model is to provide toll milling services for clients and to produce high grade concentrates from mineral
purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit
www.peruvianmetals.com
.
Peruvian Metals Corp. is a Canadian resource company listed on the
TSX Venture Exchange: Symbol "PER"
For additional information, contact:
Jeffrey Reeder Tel: (647) 302-3290
Website:
www.peruvianmetals.com
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "Forward-
Looking Statements" within the meaning of applicable securities legislation. We use words such as
"might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar
terminology to identify forward-looking statements and forward-looking information. Such statements and
information are based on assumptions, estimates, opinions and analysis made by management in light
of its experience, current conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking statements and information involve
known and unknown risks, uncertainties and other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking statements and information and
accordingly, readers should not place undue reliance on such statements and information. Risks and
uncertainties are more fully described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities regulatory authorities and available at
www.sedar.com
. While the Company believes that the expectations expressed by such forward-looking
statements and forward-looking information and the assumptions, estimates, opinions and analysis
underlying such expectations are reasonable, there can be no assurance that they will prove to be
correct. In evaluating forward-looking statements and information, readers should carefully consider the
various factors which could cause actual results or events to differ materially from those expressed or
implied in the forward-looking statements and forward-looking information.
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