Atico Mining - ATCMF STOCK NEWS

Atico Mining reported Q3 2024 financial results with income from mining operations of $5.8 million and net income of $1.2 million. The El Roble mine produced 2.9 million pounds of copper and 2,072 ounces of gold at a cash cost of $2.44 per payable pound. Sales increased 61% to $24.6 million compared to Q3-2023. Production decreased 23% for both copper and gold due to lower grades and processed ore. The company's working capital improved to $6.9 million from a $2.1 million deficit at the end of 2023.

Atico Mining reports Q3 2024 production results from El Roble mine, with 2.91 million pounds of copper and 2,055 ounces of gold in concentrates, marking decreases of 23% and 19% respectively compared to Q3 2023. The mine is transitioning from lower areas to new higher-grade reserves in upper areas, leading to planned reduction in production rates. Average processed tonnes per day reached 858, with copper head grade at 2.12% and gold head grade at 1.51 g/t. The company maintains copper and gold recovery rates of 92% and 65% respectively.

Atico Mining reported its Q2 2024 financial results, posting income from mining operations of $2.6 million and a net loss of $0.4 million. Key highlights include:

• Production at El Roble mine: 3.7 million lbs of copper and 2,850 oz of gold in concentrate
• Cash cost: $1.48 per payable pound of copper
• Sales decreased 11% to $10.9 million due to weather-related shipping delays
• Cash margin increased 68% to $2.86 per pound of payable copper
• All-in sustaining cash cost reduced to $2.32 per payable pound of copper

The company expects strong revenues in Q3 2024 to offset this quarter's results. Atico is focused on achieving production guidelines, advancing the La Plata project, and executing a near-mine drill program at El Roble.

Atico Mining (TSX.V: ATY | OTCQX: ATCMF) has extended its US$10 million credit facility with Trafigura PTE. The maturity date has been pushed from August 8, 2024, to July 31, 2026. The new agreement includes a structured repayment schedule with varying installments from January 2025 to July 2026. The outstanding principal will bear interest at a rate of SOFR plus 7.5%.

Atico Mining is focused on copper and gold projects in Latin America, operating the El Roble mine and developing the La Plata VMS project in Ecuador. This credit facility extension provides the company with additional financial flexibility to support its growth-oriented strategy in the region.

Atico Mining (TSX.V: ATY | OTCQX: ATCMF) reported strong Q2 2024 production results from its El Roble mine. Copper production increased 33% to 3.73 million pounds, while gold production rose 25% to 2,874 ounces compared to Q2 2023. Key improvements include:

- Average processed tonnes per day up 7% to 852
- Copper head grade up 27% to 2.59%
- Gold head grade up 9% to 1.94 g/t
- Copper and gold recovery increased to 92% and 65% respectively

However, a shipping delay impacted Q2 financials, with only 60% of a planned concentrate shipment loaded by June 30. The remaining 40% will be recognized in Q3 financials. The company expects continued strong production in H2 2024 as it accesses newly discovered high-grade ore areas.

Atico Mining has announced the granting of 2,346,811 incentive stock options to its directors, officers, employees, and consultants. These options are exercisable at $0.165 per share for a period of five years. Atico is a growth-focused company specializing in copper and gold projects in Latin America, currently operating the El Roble mine and developing the La Plata VMS project in Ecuador. The company aims to generate significant cash flow and is actively seeking additional advanced-stage opportunities.

Atico Mining announced the completion of the NI 43-101 Feasibility Study for its La Plata Project in Ecuador. The study reveals initial Probable Mineral Reserves of 2.51 Mt with significant copper, gold, silver, and zinc grades.

Key highlights include average annual production estimates of 9.71 Mlbs Cu, 15,929 oz Au, 226,299 oz Ag, and 13.25 Mlbs Zn over an 8.1-year mine life. The project requires an initial Capex of $91 million and anticipates a 25.1% after-tax IRR with a $93 million NPV at a 5% discount rate.

Underexplored areas represent just 1.6% of the total land package, indicating substantial exploration potential. Further, the study outlines a comprehensive process plant design and mining methods, along with capital and operating cost estimates.

Atico Mining announced its financial results for Q1-2024, reporting a net loss of $0.4 million despite a 39% increase in sales to $17.8 million. The El Roble mine produced 3.3 million lbs of copper and 2,185 oz of gold with cash costs of $2.57 per payable pound of copper. Key operational highlights include a 45% increase in copper production and a 14% decrease in gold production. The company faces challenges like higher costs and lower copper prices, but anticipates improved margins due to rising metal prices and new reserve developments.

Atico Mining provided an updated NI 43-101 mineral resource and reserve estimate for the El Roble Mine in Colombia, showing positive results and an extended life of mine until the first quarter of 2027. The measured and indicated mineral resources are estimated at 881 thousand tonnes averaging 3.40% Cu and 2.98 g/t Au, while proven and probable mineral reserves are estimated at 828 thousand tonnes averaging 2.49% Cu and 2.20 g/t Au. These estimates were prepared by qualified persons and meet CIM standards, with a focus on continued exploration to replace mined material.