Atico Reports 2024 Fourth Quarter and Full Year Production Results
Atico Mining has reported its Q4 and full-year 2024 production results from the El Roble mine. The company produced 3.7 million pounds of copper and 1,918 ounces of gold in Q4 2024, and 13.67 million pounds of copper and 9,025 ounces of gold for the full year 2024.
Q4 2024 showed decreases compared to Q4 2023, with copper production down 16% and gold production down 26%. However, the full-year copper production increased by 3% over 2023, while gold production decreased by 11%. The company met its production guidance for most metrics, with only gold production slightly below budget due to decreased head grade.
For 2025, Atico has set production guidance of 11,000-12,300 thousand pounds of copper and 12,000-13,500 ounces of gold, with a C1 Cash Cost of $1.60-$1.70 per pound.
Atico Mining ha riportato i risultati di produzione del quarto trimestre e dell'anno intero 2024 dalla miniera di El Roble. L'azienda ha prodotto 3,7 milioni di libbre di rame e 1.918 once d'oro nel quarto trimestre del 2024, e 13,67 milioni di libbre di rame e 9.025 once d'oro per l'intero anno 2024.
Il quarto trimestre del 2024 ha mostrato una diminuzione rispetto al quarto trimestre del 2023, con una produzione di rame in calo del 16% e una produzione d'oro in calo del 26%. Tuttavia, la produzione di rame per l'intero anno è aumentata del 3% rispetto al 2023, mentre la produzione d'oro è diminuita dell'11%. L'azienda ha rispettato le proprie previsioni di produzione per la maggior parte dei parametri, con solo la produzione d'oro leggermente sotto il budget a causa di una diminuzione della qualità della materia prima.
Per il 2025, Atico ha fissato una guida alla produzione di 11.000-12.300 mila libbre di rame e 12.000-13.500 once d'oro, con un costo in contante C1 di $1,60-$1,70 per libbra.
Atico Mining ha reportado sus resultados de producción del cuarto trimestre y del año completo 2024 de la mina El Roble. La compañía produjo 3,7 millones de libras de cobre y 1,918 onzas de oro en el cuarto trimestre de 2024, y 13,67 millones de libras de cobre y 9,025 onzas de oro para el año completo 2024.
El cuarto trimestre de 2024 mostró disminuciones en comparación con el cuarto trimestre de 2023, con una producción de cobre que cayó un 16% y una producción de oro que cayó un 26%. Sin embargo, la producción de cobre del año completo aumentó un 3% en relación con 2023, mientras que la producción de oro disminuyó un 11%. La compañía cumplió con su guía de producción para la mayoría de los indicadores, con solo la producción de oro ligeramente por debajo del presupuesto debido a una disminución en el grado de cabeza.
Para 2025, Atico ha establecido una guía de producción de 11,000-12,300 mil libras de cobre y 12,000-13,500 onzas de oro, con un costo en efectivo C1 de $1.60-$1.70 por libra.
하이코 마이닝은 엘 로블 광산에서 2024년 4분기 및 연간 생산 결과를 보고했습니다. 이 회사는 2024년 4분기에 370만 파운드의 구리와 1,918 온스의 금을 생산했으며, 전체 연간 생산량은 1,367만 파운드의 구리와 9,025 온스의 금입니다.
2024년 4분기는 2023년 4분기와 비교하여 감소세를 보였으며, 구리 생산은 16% 감소하고 금 생산은 26% 감소했습니다. 그러나 전체 연간 구리 생산은 2023년에 비해 3% 증가했으며, 금 생산은 11% 감소했습니다. 이 회사는 대부분의 지표에 대한 생산 지침을 충족했으며, 오직 금 생산만이 채광 품위 감소로 인해 예산을 약간 밑도는 수준이었습니다.
2025년을 위해 Atico는 11,000~12,300 천 파운드의 구리와 12,000~13,500 온스의 금 생산을 목표로 설정했으며, C1 현금 비용은 파운드당 $1.60~$1.70입니다.
Atico Mining a rapporté ses résultats de production pour le quatrième trimestre et l'année complète 2024 de la mine El Roble. L'entreprise a produit 3,7 millions de livres de cuivre et 1 918 onces d'or au quatrième trimestre 2024, et 13,67 millions de livres de cuivre et 9 025 onces d'or pour l'année complète 2024.
Le quatrième trimestre 2024 a montré des baisses par rapport au quatrième trimestre 2023, avec une production de cuivre en baisse de 16 % et une production d'or en baisse de 26 %. Cependant, la production de cuivre pour l'année complète a augmenté de 3 % par rapport à 2023, tandis que la production d'or a diminué de 11 %. L'entreprise a respecté ses prévisions de production pour la plupart des indicateurs, avec seulement la production d'or légèrement en dessous du budget en raison d'une diminution de la teneur.
Pour 2025, Atico a fixé une guidance de production de 11 000 à 12 300 mille livres de cuivre et de 12 000 à 13 500 onces d'or, avec un coût en espèces C1 de 1,60 $ à 1,70 $ par livre.
Atico Mining hat seine Produktionszahlen für das vierte Quartal und das gesamte Jahr 2024 aus der El Roble Mine veröffentlicht. Das Unternehmen produzierte im vierten Quartal 2024 3,7 Millionen Pfund Kupfer und 1.918 Unzen Gold, und für das gesamte Jahr 2024 13,67 Millionen Pfund Kupfer und 9.025 Unzen Gold.
Das vierte Quartal 2024 zeigte im Vergleich zum vierten Quartal 2023 Rückgänge, wobei die Kupferproduktion um 16% und die Goldproduktion um 26% sank. Die gesamte Kupferproduktion stieg jedoch um 3% im Vergleich zu 2023, während die Goldproduktion um 11% zurückging. Das Unternehmen hat die Produktionsleitlinien für die meisten Kennzahlen erfüllt, wobei lediglich die Goldproduktion aufgrund eines Rückgangs des Gehalts unter dem Budget lag.
Für 2025 hat Atico eine Produktionsprognose von 11.000-12.300 Tausend Pfund Kupfer und 12.000-13.500 Unzen Gold festgesetzt, mit einem C1 Cash Cost von $1,60-$1,70 pro Pfund.
- Full-year copper production increased 3% over 2023 to 13.67M pounds
- Met production guidance for most metrics in 2024
- Copper recovery maintained at 92.1% for the year
- Gold recovery improved by 5% over 2023
- Q4 copper production decreased 16% compared to Q4 2023
- Q4 gold production decreased 26% compared to Q4 2023
- Full-year gold production decreased 11% compared to 2023
- 2025 copper production guidance shows potential decrease from 2024 levels
VANCOUVER, British Columbia, Jan. 20, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce operating results for the three months and year ended December 31, 2024 from its El Roble mine. Production totaled 3.7 million pounds of copper with 1,918 ounces of gold for the fourth quarter (“Q4 2024”) and 13.67 million pounds of copper with 9,025 ounces of gold in concentrates for the full year in 2024.
“The Company had a solid operational year overall as we met our production guidance for most metrics. Gold production was slightly below budget, primarily due to a decrease in head grade, while copper production, our primary commodity, reached this year’s target. We expect these results to generate strong revenue and improved financial performance for year ended 2024." said Fernando E. Ganoza, CEO. "In the coming year, we have key milestones yet to achieve. In the first quarter, we anticipate an arbitration ruling related to the royalty dispute at the El Roble mine. Furthermore, at El Roble we plan to allocate significant effort to drilling the deposit and exploring for additional mineralization in the mine vicinity. At La Plata in Ecuador, we will continue to advance the project to secure the environmental license, with the goal of reaching a positive construction decision in the second half of the year."
Fourth Quarter and Full Year Operational Highlights
Fourth Quarter
- Production of 3.7 million pounds of copper contained in concentrates; a decrease of
16% over Q4 2023. - Production of 1,918 ounces of gold contained in concentrates; a decrease of
26% over Q4 2023. - Average processed tonnes per day of 827; a decrease of
3% over Q4 2023. - Copper and gold head grades of
2.60% and 1.29 grams per tonne, respectively; a decrease of10% for copper and a decrease of26% for gold over Q4 2023. - Copper and gold recovery of
92.2% and66.0% , respectively; a decrease of2% for copper and an increase of5% for gold over Q4 2023.
2024 Year-end
- Production of 13.67 million pounds of copper contained in concentrates; an increase of
3% over 2023. - Production of 9,025 ounces of gold contained in concentrates; a decrease of
11% over 2023. - Average processed tonnes per day of 836; no significant change over 2023.
- Copper and gold head grades of
2.46% and 1.61 grams per tonne, respectively; an increase of5% for copper and a decrease of15% for gold over 2023. - Copper and gold recovery of
92.1% and63.6% , respectively; no significant change for copper and an increase of5% for gold over 2023.
Fourth Quarter and Full Year Operational Details
| Q1 Total | Q2 Total | Q3 Total | Q4 Total | 2024 Total | |
| Production (Contained in Concentrates) | |||||
| Copper (000s pounds) | 3,349 | 3,710 | 2,912 | 3,697 | 13,668 |
| Gold (ounces) | 2,185 | 2,850 | 2,072 | 1,918 | 9,025 |
| Mine | |||||
| Tonnes of ore mined | 64,873 | 70,826 | 67,869 | 69,696 | 273,264 |
| Mill | |||||
| Tonnes processed | 65,787 | 71,079 | 67,354 | 69,961 | 274,181 |
| Tonnes processed per day | 811 | 852 | 856 | 827 | 836 |
| Copper grade (%) | 2.52 | 2.57 | 2.13 | 2.60 | 2.46 |
| Gold grade (g/t) | 1.67 | 1.95 | 1.52 | 1.29 | 1.61 |
| Recoveries | |||||
| Copper (%) | 91.8 | 92.0 | 92.2 | 92.2 | 92.1 |
| Gold (%) | 61.7 | 64.2 | 62.9 | 66.0 | 63.6 |
| Concentrates | |||||
| Copper and gold concentrates (dmt) | 8,274 | 9,197 | 7,248 | 9,203 | 33,922 |
| Payable copper produced (000s lbs) | 3,148 | 3,487 | 2,737 | 3,474 | 12,846 |
Note: Metal production figures are subject to adjustments based on final settlement.
Concentrate Inventory
The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.
| Q4 2024 | |
| Amounts in dry metric tonnes | |
| Opening inventory | 5,823 |
| Production | 9,203 |
| Sales | -8,852 |
| Adjustments | -5 |
| Closing inventory | 6,169 |
| Number of shipments | 1 |
Note: Concentrate figures are subject to adjustments based on final surveys and final settlement of sales.
2025 Operating and Cost Guidance
| Copper (000s pounds) | 11,000 to 12,300 |
| Gold (ounces) | 12,000 to 13,500 |
| C1 Cash Cost ($US)(1) |
Note: Please see “Non-GAAP Financial Measures” at the end of this release. C1 cash cost per pound of payable copper produced net of by-product credits.
El Roble Mine
The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.
Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.
El Roble’s reserves estimate, with an effective date of March 12, 2024, includes Proven and Probable mineral reserves of 828 thousand tonnes averaging
Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.
Qualified Person
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the AIF of the Company dated September 4, 2024 filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com.
Non-GAAP Financial Measures
The items marked with a "(1)" are alternative performance measures and readers should refer to “Non-GAAP Financial Measures” in the Company's Management's Discussion and Analysis for the 9 months ended September 30, 2024, (“Q3-2024 MD&A”) as filed on SEDAR+ at www.sedarplus.ca under the Company’s profile and as available on the Company's website for further details. To facilitate a better understanding of these measures as calculated by the Company, descriptions are provided in “Non-GAAP Financial Measures” in the Company’s Q3-2024 MD&A, including an explanation of their composition; an explanation of how such measures provide useful information to an investor and the additional purposes, if any, for which management of Atico uses such measures; and a qualitative reconciliation of each non-GAAP financial measure to the most directly comparable historical financial measure that is disclosed in the Company’s financial Statements as of September 30, 2024.
FAQ
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