January 31, 2023
Altaley Mining Corp. (TSXV:ATLY, BUY, C$2.45 target, Taylor Combaluzier) announced its operational plans for 2023. At its 100%-owned Tahuehueto Au project, the initial 500tpd operation is expected to be complete by Q2/23. The remaining tasks for completion include installation of final comminution equipment and construction of the definitive tailing storage facility. Expansion to 1,000tpd is then anticipated to be completed by Q4/23, which requires the installation of a second ball mill and a third tailings filter press. Once up and running at 1,000tpd, the mine is expected to produce ~43,000 oz AuEq per year. Additionally at its 100%-owned Campo Morado polymetallic project, focus has shifted towards mining of the higher-grade copper orebodies which includes the Fish and South-West orebodies. Combining this with the additional flotation cells in the circuit should result in a 5% increase to the Cu concentrate grade to 16% Cu. EBITDA for Campo Morado in 2023 is estimated at US$15.9M. We are encouraged to see steady progress towards ramping up Tahuehueto to 500tpd (read more) and believe successfully achieving this throughput level by Q2/23 should provide confidence to the market that the company could rapidly reach full (1,000tpd) throughput. Read more
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Altaley Mining Corp. – TSXV:ATLY – 1,2,3
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