Further Concentrate Sales Reported and Planned
Altiplano Metals (WKN A2JNFG / TSXV APN) is entering the New Year with great momentum. After presenting news about the Santa Beatriz copper mine last week, today brings updates on the El Peñón processing plant. There, 45 kilometers south of La Serena in Chile, Altiplano has completed important technical improvements.
As the company has now announced, a new weighing system has been installed at the facility. It is a 20-meter long, 60-ton, reinforced and solar-powered bridge scale specifically designed for heavy traffic. According to Altiplano, this now allows for greater accuracy in determining the amount of copper and gold mineralized material delivered to the plant and also improves the process for shipping the final concentrate deliveries.
Continued Concentrate Sales
Currently, Altiplano is processing material from stockpiles at El Peñón until mineralized material from the Santa Beatriz mine becomes available – expected in the very near future (We reported.).
As the company also announced today, they sold another 56 tons of concentrate to Ocean Partners (Chile) Spa on December 23, 2024. The preliminary revenue of 90% amounted to a total of CAD 140,000 (USD 100,000), based on a preliminary assigned grade of 24% Copper and 1.4 grams of Gold.
This means each ton of concentrate has a preliminary value of US$2,079. The final price will be based on the average copper price on the LME (London Metal Exchange) and payment will be made in early February.
First Iron Ore Sales Expected in January
Additionally, Altiplano Metals produced 850 tons of iron concentrate in December, with an estimated average grade of 68% Fe. This brings their inventory to 2,500 tons, and Altiplano plans the first sales this month.
Altiplano CEO Alastair McIntyre explains: “We are pleased to continue the technical improvements at the processing plant with the installation of a new scale. The system will enhance our reporting and sales processes to ensure accuracy of materials delivered to and shipped from the facility. We are also pleased with additional concentrate sales from the plant, which will improve our year-end results.”
