Altaley Mining Corporation (TSX-V:ATLY) posted total income of C$7.6 million during its second quarter 2021 as its Campo Morado mine more than doubled its output compared to the same period last year.
Gross revenues of $24.5 million during the quarter came from 11,854 tonnes of zinc concentrate sold, with an average of 46% zinc and 639 grams per ton (g/t) silver, according to a release.
Altaley also sold 2,668 tonnes of lead concentrate with an average of 22% lead, 723 g/t silver and 5.7 g/t gold.
READ: Altaley Mining says new metallurgical testing program at Campo Morado could boost recoveries of base and precious metals
The figures propelled Altaley to see operating profits of $9.1 million from the mine, with total cash cost per ounce of zinc coming in at US$0.48 and all-in-sustaining-costs of US$0.77.
Comparatively, the profitable operation was a sharp turnaround from last year, when Campo Morado was operating in the red and Altaley reported a C$4.6 million loss.
During the quarter to end June 30, 2021, the company produced 11,812 tonnes of zinc concentrate at an average grade of 46% zinc, 2.13 g/t gold, and 656 g/t silver. Altaley also produced 2,648 of lead concentrate grading an average of 22% lead, 6.27 g/t gold, and 751 g/t silver.
In total, the group processed 164,047 tonnes of mineralized material, averaging 1,803 tonnes per day, grading 4.5% zinc, 0.34% copper, 129 g/t silver and 1.16 g/t gold.
Campo Morado is an operating polymetallic base metal mine in Mexico with mining and milling equipment currently producing at an average rate of approximately 2,000 tonnes per day.
"Steady production rates during the quarter, plus implementation of operational efficiencies combined with higher metal prices has resulted in another strong quarter with positive results from the operations at Campo Morado," Ralph Shearing, Altaley’s CEO said in a statement.
"As a result of higher revenues and improved cost per tonne, the company has achieved another quarter with solid mine operating profits and positive cash flows from the Campo Morado mine."
Altaley’s other asset is the Tahuehueto project is in northwestern Durango State, Mexico where construction has been advanced to nearly 70% of completion.
The firm ended the period with C$8.9 million in cash.
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