Shares of Altiplano Metals Inc (OTCMKTS:ALTPF) (TSXV:APN) closed a big higher after the recent fall. The stock has lost 22% in the past month.
Market Reaction
On Monday, ALTPF stock gained 4.30% to $0.2250 with 22k shares, compared to its average volume of 50.81K shares. The stock has moved within a range of $0.2235 – 0.2250 after opening trade at $0.2235.
Earnings Recap
Growing gold, silver, and copper company focused on the Americas, Altiplano Metals Inc (OTCMKTS:ALTPF) (TSXV: APN), on January 31, 2022, came out with quarter four results of the previous year from its Farellon Copper-Gold mine near La Serena, Chile.
During the quarter, the firm extracted about 11,189 tonnes of mineralized Cu-Au material. Additionally, it processed 7,254 tonnes at an average copper grade of about 1.75%. The sale of 267,927 pounds of copper generated about US$779,053 in revenue.
By end of December 2021, the firm had 600 tonnes in stockpiles at the site and about 1400 tonnes of low-grade stockpiled material. Revenue from the stockpile will be added in the coming months. Low-grade stock processing would be done at the APN El Peñón mill site.
The total tonnes processed as well as extracted reduced by 3.9% and 5.3% respectively from the last quarter with an overall grade at 1.75%, representing a 38% increase from quarter three.
CEO Alastair McIntyre said that the higher revenues, as well as grades, are proof of the firm’s focus on sustainability improvement and efficiency. The CEO added that the mining operations continue to be positive quarter on quarter and the revenue generated at the site accounts for US$8 million from the sale of 4 million pounds of copper.
Key Quote
CEO Alastair McIntyre comments, “Increased revenues and grade are a testament to our focus on efficiency and sustainability improvements at Farellon. Our mining operations continue to turn out positive results quarter after quarter. Revenue generated at the Farellon operation now represents approximately US$8 million from the sale of approximately 4 million pounds of copper.”
Traders Review
ALTPF stock is trading below the 20-Day and 50-Day Moving averages of $0.2514 and $0.2285 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.2448.
