Altiplano receives conditional TSX-V OK for mill sale
Altiplano secures TSX-V approval to sell its El Peñón mill for $1.54 million.
Altiplano Metals Inc. (APN) has received conditional approval from the TSX Venture Exchange for the sale of its El Peñón mill, associated land, and permits to Tersus Tierras SpA for $1.54 million USD. The transaction requires shareholder approval, which the company will seek at a special meeting scheduled for November 23, 2026, or through written consent from at least 50% of shareholders. The Board of Directors has unanimously recommended that shareholders approve the deal. This development follows the initial announcement of the definitive framework asset purchase agreement on October 4, 2026, and subsequent regulatory filings.
Altiplano Metals Inc. (APN) received conditional approval from the TSX-V, a development that removes a critical regulatory barrier and advances the previously announced asset disposition toward closing. The company stated that proceeds from the $1.54 million USD sale will be directed toward settling trade payables and legal obligations in Chile, directly addressing the company's severe working capital deficit of approximately $4.0 million CAD.
This news serves as a procedural follow-up to disclosures made in early October. It does not introduce new valuation metrics, strategic pivots, or unexpected financial terms. The impact is positive but incremental, as the deal's success remains contingent on final shareholder ratification and the execution of settlement agreements with creditors of Altiplano Minerals Chile SpA.
Altiplano Metals Inc. (APN) operates mining and processing assets in Chile's Coquimbo region. Its flagship asset is the El Peñón processing facility, which has a capacity of 5,000 tonnes per month and is permitted through 2028. The plant produces copper-gold-iron concentrates and features dry stack tailings with 75% water recycling.
The company also holds the Santa Beatriz mine, a permitted underground IOCG project located 13km from El Peñón. Operations at Santa Beatriz have been on care and maintenance since March 2026.
Historical production at the assets includes over 8 million pounds of copper produced since 2018 at an average grade of 1.8%. Currently, Altiplano Metals reported zero revenue in Q2 FY2027. Both the mine and plant are on care and maintenance with no commercial production planned in the immediate term.