Altaley Mining Corp poised to become Mexico”s next high-grade gold miner – Proactive Investors USA

Snapshot

  • Altaley Mining marks milestone as it hires underground mining contractor MGA to bring Tahuehueto mine into production
  • Altaley Mining provides an update on Tahuehueto as underground mining contractor mobilizes

Quick facts: Altaley Mining Corporation

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About the company

Altaley Mining Corporation is a Canadian-based junior resource company with two Mexican gold, silver and base metal mining projects.  Altaley’s Tahuehueto project located in Durango is currently in construction with a timeline to be producing on site in its own mineral processing plant capable of milling at least 1,000 tpd in late 2021. Altaley’s 100% owned Campo Morado mine located in Guerrero, Mexico was placed into care and maintenance in August 2019 due to a number of factors including the substantial decline in zinc prices which negatively affect the mine’s profitability. With improving conditions Altaley brought the mine out of care and maintenance and reinitiated mining and milling operations during January 2020.

How it is doing

02 Nov 2021

Altaley Mining Corporation (TSX-V:ATLY) revealed that it is eyeing the first production through the mill at its polymetallic Tahuehueto mine in Mexico near the end of this year and that it has hired local firm MGA as its underground mining contractor.

Durango city-based MGA has over 20 years of experience and its clients include various prominent companies such as Newmont Corp (Goldcorp), Pan-American Silver, Endeavour Silver, Fresnillo, First Majestic, and others.

“Engaging MGA as Tahuehueto’s underground mining contractor is another milestone and brings our company closer to start production at Tahuehueto,” said Ralph Shearing, CEO of Altaley, adding that the contractor will ensure that mill feed tonnages will be available to sustain continuous milling operations.

“Altaley is pleased to have secured MGA as Tahuehueto’s underground mining contractor and is counting down the weeks remaining to reach production near the end of this year,” said Shearing.

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26 Oct 2021

() CEO & president Ralph Shearing has told investors that the miner’s “Campo Morado operations are reporting another excellent quarter with estimated revenue of $17.4 million for the third quarter of 2021”.

In a Q3 production statement for the mine, which is in Guerrero state, Mexico, Shearing added: “Although head grades of mineralization during Q3 2021 were slightly lower and to improve productivity a planned shut down for the SAG mill liner change out and planned mill maintenance interrupted production over several days, revenues achieved were only 6% lower when compared to Q2 2021.”

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20 Sep 2021

Altaley Mining Corporation said its common shares are now trading on the OTCQX Best Market under the symbol ATLYF. Its shares will also continue to trade on the TSX Ventures Exchange and the Frankfurt Stock Exchange. 

The OTCQX Best Market is the highest market tier of OTC markets on which 10,000 US and global securities trade. Altaley said trading on the exchange will enhance its visibility and accessibility to US investors.

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What management says

02 Nov 2021

Altaley Mining CEO Ralph Shearing joined Steve Darling from Proactive to share the news that the company’s mining contractor has been chosen and the company will soon be operating at the Tahuehueto Gold Mine in Mexico.

Shearing telling Proactive first production through the mill is expected near the end of 2021 when the first ball mill is to be commissioned and in Q1 2022 the second ball mill will be installed and brought online. The mine will look to process 1,000 tonnes per day.

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Altaley Mining provides an update on Tahuehueto as underground mining…

Altaley Mining CEO Ralph Shearing joined Steve Darling from Proactive to share the news that the company’s mining contractor has been chosen and the company will soon be operating at the Tahuehueto Gold Mine in Mexico. Shearing telling Proactive first production through the mill is expected…

1 week, 6 days ago

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