Twitter Facebook LinkedIn YouTube

Peruvian Metals (TSXV:PER) has announced a non-brokered private placement

Video Platform Video Management Video Solutions Video Player

The company is looking to raise gross proceeds of up to $250,000 from the placement of up to 5 million units priced at $0.05 per unit. The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 24 months.

Additional Information:

Company: Peruvian Metals
Website: http://www.PeruvianMetals.com
Stock Symbol: TSXV: PER
Date Published: Aug 19, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Peruvian Metals has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $250,000 from the placement of up to 5 million units priced at $0.05 per unit.

The units consist of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 24 months.

The shares are currently trading at $0.06.

Peruvian Metals is a Canadian exploration and mineral processing company with a stated objective to explore and develop mining properties, provide toll milling services for clients and to produce high grade concentrates from mineral purchases.

The company owns an 80% interest in the Aguila Norte Process Plant, one of only three flotation plants in Northern Peru accepting minerals from third parties.

It is strategically located just off the Pan American highway, near Trujillo, Peru’s 2nd largest city.

Although abundant small-scale mining activity occurs in northern Peru, there are very few independent processing facilities available.

The Aguila Norte mineral processing plant hosts crushing, milling, gravity separation and flotation circuits with an initial throughput capacity of 100 tonnes per day.

Currently Peruvian Metals is processing third party polymetallic lead-zinc-silver material through the plant to deliver high-value concentrates for its customers.

During 2019, the plant processed 18,510 tonnes of mineral for small miners.

The plant achieved excellent recoveries by producing 4,091 metric tonnes of highly marketable zinc concentrates averaging 52.4 % zinc and 1,364 tonnes of lead-silver concentrates averaging 52.9 % lead and 125 ounces of silver per tonne.

Forty-six tonnes of copper concentrate were also produced by processing only one small batch of copper mineral.

The company generated revenue of approximately $1.6 million during 2019.

The company intends to purchase polymetallic and precious metal mineral to process at the Aguila Norte plant for sale of the mineral concentrates to the Peruvian metal trading market.

The company also holds interests in several properties in Peru, including a 50% interest in Palta Dorada Property located just 140 kilometers from the company’s Aguila Norte Plant.

Peruvian Metals sampled the 700 mineral sacks being sold at the time of the property visit, which averaged 0.86 ounces per ton gold, 24 ounces per tone silver, and 3.16% copper.

The company’s Minas Maria Norte property, located in Southern Peru in the historic Huachocolpa Mining District, covers an area of 368 hectares including numerous previously exploited gold-silver-zinc-lead veins.

For more information, please visit the company’s website at www.PeruvianMetals.com, contact Jeffrey Reeder at 647-302-3290 or by email at jeffrey.reeder@PeruvianMetals.com

I’m Megan Edwards for Investmentpitch Media