Peruvian Metals Sells Maria Norte Project to Rio Silver

Peruvian Metals ( (TSE:PER) ) just unveiled an update.

Peruvian Metals Corp. has completed the sale of its subsidiary, Mamaniña Exploraciones S.A.C., which holds mining rights in the Maria Norte project, to Rio Silver Inc. As part of the transaction, Peruvian Metals received 3,999,999 common shares of Rio Silver and will receive US$250,000 in semi-annual payments over five years. This transaction allows Peruvian Metals to hold a significant interest in Rio Silver and benefit from any exploration success. The company plans to focus on its gold and silver projects in Northern Peru while maintaining positive cash flow from its Aguila Norte Processing Plant.

Spark’s Take on TSE:PER Stock

According to Spark, TipRanks’ AI Analyst, TSE:PER is a Neutral.

Peruvian Metals faces significant challenges with profitability and cash flow, which are reflected in its low financial performance and valuation scores. While the balance sheet’s strength provides some stability, the technical indicators suggest a cautious outlook. The lack of earnings call data limits insights into management’s future guidance.

To see Spark’s full report on TSE:PER stock, click here.

More about Peruvian Metals

Peruvian Metals Corp. is a Canadian exploration and mineral processing company that provides toll milling services and produces high-grade marketable concentrates from mineral purchases. The company operates the Aguila Norte processing plant in Peru, which has an environmental permit allowing expansion beyond the current 100 tonnes per day level. Peruvian Metals continues to acquire and develop precious and base metal properties in Peru.

YTD Price Performance: 100%

Average Trading Volume: 204,586

Technical Sentiment Signal: Buy

Current Market Cap: C$5.54M

Learn more about PER stock on TipRanks’ Stock Analysis page.