Altaley Mining Corporation (TSX-V:ATLY) posted total income of C$4.3 million during its third quarter 2021 as its Campo Morado mine produced strong operational results while reducing costs.
The company reported gross revenues of just over $23 million for the quarter after producing 10,743 tonnes of zinc concentrate with an average of 45% zinc, 2.29 grams per tonne (g/t) gold and 724 g/t silver. It sold approximately 10,169 tonnes of zinc concentrate for revenue of $12.32 million, it said in a release.
It said it also produced 2,690 tonnes of lead concentrate with an average of 22% lead, 1.56% copper, 5.45 g/t gold, 919 g/t silver and sold 2,296 tonnes generating revenue from lead concentrate of US$2.1 million.
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The company processed 168,443 tonnes of mineralized material during the quarter, compared to approximately 127,438 tonnes of ore processed in the comparative period.
Mineralized material mined during 3Q was 151,388 tonnes grading 4.30% zinc, 1.18% lead, 137 g/t silver and 1.13 g/t gold, achieving recoveries of 66.4% in zinc, 29% in lead, 11.3% in gold, and 23% in silver.
"Our Campo Morado team have produced another excellent quarter of operational results," CEO Ralph Shearing said.
"3Q AISC (all-in sustaining costs) and C1 (net direct) cash costs have reduced by $0.07 and $0.03 respectively per pound of zinc produced as compared to 2Q 2021, resulting in gross revenue of just over $23 million and mine operating profit of $9.55 million for the quarter."
Altaley holds two wholly-owned Mexican gold, silver, and base metal mining projects.
Campo Morado is an operating polymetallic base metal mine in Mexico with mining and milling equipment currently producing at an average rate of approximately 2,100 tonnes per day.
Altaley’s other asset is the Tahuehueto project is in northwestern Durango State, Mexico where construction has been advanced to nearly 80% of completion on its 1,000 tonne per day processing facility and related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates.
Contact the author at stephen.gunnion@proactiveinvestors.com