So what we currently have is APN Has raised $600K dollars SoAnd a reporting of the two revenue streams from the iron and gold / copper. This revenue will be used to cover G&A and a few other costs.
the "Company") is pleased to announce that it has entered into an offtake agreement with a Chilean private company to purchase the iron concentrate produced at the El Pen processing facility located approximately 30 kilometers south of La Serena, Chile.
President and CEO Alastair McIntyre comments:
"We are very pleased to begin our iron sales generating an additional revenue stream to complement our copper/gold sales. This achievement demonstrates our commitment to sustainable mining generating benefits through the production of a high-quality product for specialty use in the local Chilean market. Revenue from the added revenue stream can be used to significantly cover corporate G&A and costs."
Highlights:
- Plant capacity to produce 1,800 tonnes per month is based on a 40% magnetite content in mineralized material processed, typical of iron-oxide-copper-gold vein structures
- Iron oxide produced at the plant ranges from 65-71% iron
- Stockpile at the site is currently 2,500 tonnes.
Figure 1: Iron Loading for Shipment and Sale.
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Figure 2. Flow Chart of the Concentrates Process
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Altiplano has generated over C$22.5 million from the recovery and sale (after processing costs) of more than 6.95 million pounds of copper with an average grade of 1.8% Cu (December 2018 Sep 2024). Cash has been re-invested into exploration, new equipment, underground drilling, expanding underground development and production and the completion of the El Pen copper-gold-iron processing facility located 30 km from La Serena, Chile.