Northwire Canada EditionMonday, August 24, 2026
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GOLD 4731.20 +1.1% SILVER 68.89 −0.9% COPPER 6.62 +0.4% OIL 85.39 −1.9% PALLADIUM 1361.50 +0.8% PE 0.250 +0.0% PER 0.140 +0.0% SVRS 0.540 +8.0% EML 0.200 −14.9% AVU 0.040 +0.0% LIB 0.790 +4.0% SHL 0.405 −2.4% RRI 0.380 +4.1% FFM 1.87 +0.0% TBK 0.370 +2.8% AHR 1.10 −1.8% VGD 0.140 +7.7% HART 0.240 +0.0% XGC 0.230 +0.0% FAS 0.095 +0.0% ONAU 0.700 +1.4% GOLD 4731.20 +1.1% SILVER 68.89 −0.9% COPPER 6.62 +0.4% OIL 85.39 −1.9% PALLADIUM 1361.50 +0.8% PE 0.250 +0.0% PER 0.140 +0.0% SVRS 0.540 +8.0% EML 0.200 −14.9% AVU 0.040 +0.0% LIB 0.790 +4.0% SHL 0.405 −2.4% RRI 0.380 +4.1% FFM 1.87 +0.0% TBK 0.370 +2.8% AHR 1.10 −1.8% VGD 0.140 +7.7% HART 0.240 +0.0% XGC 0.230 +0.0% FAS 0.095 +0.0% ONAU 0.700 +1.4%
Drill Results Routine +

Peruvian Metals Provides Progress Update on Mercedes Au-Ag Property with Assay Results from the Newly Sampled Kelly Vein

Peruvian advances Mercedes extraction while dilution and permit risks linger

By The Northwire Desk — AI Analysis Aug 24, 2026 · 09:01 PER · 0.14 Peruvian Metals Corp.
Executive Summary

Peruvian Metals Corp. (PER) released an operational update regarding its 50% interest in the Mercedes Au-Ag property in Peru, noting that metallurgical testing has confirmed high recovery rates of 97.85% for silver and 92.19% for gold. Mineral extraction has begun on the Victor II Vein, with material currently being stockpiled.

The company also reported that a grab sample from the newly sampled Kelly Vein returned 3.16 g/t Au, 8.42 oz/t Ag, 0.58% Pb, and 4.88% Zn over a 0.60-meter width. Peruvian Metals plans to develop a 225-meter drift to crosscut the Kelly, Victor I, and Victor II veins, aiming to establish six mineralized faces, although certain permits for underground development remain pending.

CEO Jeffrey Reeder highlighted that rising gold prices, which have moved from $2,100 to $4,600/oz, and silver prices, which have increased from $23 to $70/oz, have significantly improved the project's economics.

Material Impact

Peruvian Metals Corp. (PER) confirmed progress on its Mercedes project, validating the company’s timeline for first production in the second half of 2026. The update aligns with prior expectations, as extraction had already been telegraphed for early H2 2026.

The stock price has declined from its May 2026 peak of $0.31 to $0.14, a move that has priced in dilution from recent financings and broader market sentiment.

PER · Price
Company Overview

Peruvian Metals Corp. operates the 80%-owned Aguila Norte processing plant in northern Peru, which processes third-party mineral via toll milling. The company is advancing two primary exploration and development projects: Palta Dorada, which is 100% owned, and Mercedes, which is 50% owned via San Maurizo Mines Ltd. The business model relies on toll milling cash flow to fund exploration, with plans to transition to processing its own ore. Management has a long history in Peru, with past joint venture partners including Rio Tinto and IAMGOLD. The company holds no proven reserves or resources, relying on historical sampling and metallurgical test work.

Read the original news release →

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Production / Operations Mar 31, 2026 · 18:38

Peruvian Metals closes final tranche of financing

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Financings