https://www.altaleymining.com/media/altaley-year-end-2021-shareholder-update Campo
- Positive: Q4 processing rate higher than in Q3, and zinc concentrate volume 13% higher.
- Negative: Zinc selling price only USD 1.36/lb. This is really poor considering average was somewhere around 1.5/lb. I suspect their offtake agreement is poor with heavy price participation clauses.
- Positive: Copper concentrate production possible.
- Positive: Pyrite concentrate proved at lab scale. I'm now more convinced precious metal recovery increase is possible. Not all material needs to be fed to the leaching process. And pyrite can possibly be sold as is. Looking at the precious metal prices, recoveries and production volumes, I have come to conclusion that the payability of precious metals in only about 50%. Otherwise the by-product credits would be much better. Payability may be better with pyrite concentrate and 100% if leaching succeeds as well.
- Positive: FLDSmith process control lowers costs already next Q
- Positive: pneumatic flotation has good change to improve recoveries as well.
In all, Campo seems to be on track to improve both base and precious metal production and lower the production costs in the process. They have so many initiatives in motion. It feels some of them are bound to succeed.
Tahu:
- Negative: Again one month delay, but this is only a slight miss.
- Positive: New PFS is imminent. Most likely it will show improved economics and has potential to wake up share price.