Latest News
15th July 2024
We’ve had a busy few weeks pushing forward with our plans to go public in the United States and advancing our operations in Chala, Peru.
While navigating the complex paperwork and requirements for our U.S. public listing, our team in Peru has been hard at work. They successfully transported and installed Chaparra Resources' new ball mill, which our engineers have been renovating over the past few months. The mill is now back on site and restored to its former glory.
Our progress was slightly delayed by a significant earthquake, measuring 7.7, with an epicentre only 21 miles from our operational site. Fortunately, there was no damage to our equipment in Chala, and operations continue as normal—shaken but not stirred.
The ball mill is crucial for our future production plans. Over the next 2-3 years, the plant will gradually increase its capacity and improve gold recovery rates.
Going public will undoubtedly provide us with the financial clout needed to support our growth and deliver long-term shareholder value. This move will strengthen our position in the market and allow us to capitalize on new opportunities.
Additionally, Mr. Neyra, President of Chaparra Resources and Chief Engineer, has acquired a mine located very close to our Chala operations. Although the mine has been abandoned for several years, a common occurrence in this industry, it remains an attractive acquisition and could provide a lucrative future ore stream.
Mr. Neyra is currently negotiating with a local miner to operate the mine on behalf of the company. We are also awaiting a feasibility report to assess the mine's potential.
Peru is dotted with mines like this, often owned by families who have ceased operations or failed to meet the Government’s Formalization program requirements. These mines present vast opportunities for growth and expansion.
IR Team
