Atico Mining - ATCMF STOCK NEWS

Atico Mining Corporation (ATCMF) announced the approval of the Environmental Impact Assessment (EIA) for its La Plata mining project in Ecuador. This project is considered strategic by President Guillermo Lasso and is part of Ecuador's economic reactivation plan. The La Plata project includes a 900 tpd underground mining operation with innovative infrastructure, including a unique filtered tailings facility. EIA approval marks a critical step toward construction, enabling progress on necessary licenses and permits. Atico emphasizes sustainable development through responsible mining practices.

Atico Mining Corporation reported strong financial results for Q1 2022, with a net income of $3.9 million, up 181% from $1.2 million in Q1 2021. Income from mining operations reached $9.1 million, driving a 7% increase in sales to $20.6 million. Production included 4.7 million pounds of copper and 2,636 ounces of gold. Cash costs decreased by 25% to $1.29 per pound of copper. Working capital stood at $30 million, and the Company secured a $10 million credit agreement with Trafigura. The focus remains on growth programs at the El Roble and La Plata projects.

Atico Mining Corporation has granted 1,005,206 incentive stock options at an exercise price of $0.405 per share to directors, officers, employees, and consultants. This grant, part of the company's stock option plan, allows options to be exercised over five years. Atico is focused on developing copper and gold projects in Latin America, particularly operating the El Roble mine and advancing the La Plata VMS project in Ecuador, while seeking additional acquisition opportunities to enhance growth.

Atico Mining Corporation reported its financial results for the year ending December 31, 2021, achieving a net income of $7 million, driven by a record income from mining operations of $28 million. The company produced 18.1 million pounds of copper and 11,018 ounces of gold, despite facing operational challenges. Sales rose 22% to $72.7 million, with copper and gold representing 89% and 11% of concentrate sales, respectively. Working capital stood at $13.7 million, down from $22.5 million in 2020. The La Plata project is advancing towards construction while the El Roble mine's operations are under review for extending its life.

Atico Mining Corporation (ATCMF) reported strong operational results for Q1 2022, highlighting a 7% increase in copper production (4.82 million pounds) and a 24% rise in gold production (2,636 ounces) compared to Q1 2021. The company experienced improved copper and gold head grades, rising 10% and 22% respectively. Despite a 13% decrease in processed tonnes per day, overall performance exceeded budget expectations. Operations at the El Roble mine resumed on April 24, 2022, after addressing a landslide issue, ensuring full capacity operations.

Atico Mining Corporation (OTCQX: ATCMF) reported a landslide near its operations on April 1, 2022, resulting in minor equipment damage but no injuries. Operations paused temporarily, with repairs estimated to take two to three weeks. Importantly, the company does not plan to adjust its 2022 annual guidance as it expects to make up lost production time. Atico continues to focus on its copper and gold mining projects in Latin America, including the El Roble mine and the La Plata VMS project in Ecuador.

Atico Mining Corporation has received approval to modify the mining regime of its La Plata project in Ecuador, allowing it to legally extract up to 1,000 tonnes per day. This transition enables the project to enter the economic evaluation stage, supported by strong cash flow from its El Roble mine and a recent $10 million financing. The company aims to complete a feasibility study and obtain necessary permits for the project by 2022. The La Plata project is among high-grade gold-copper VMS deposits, with inferred resources of 1.9 million tons at an average grade of 4.1 g/t Au.

Atico Mining Corporation (OTCQX: ATCMF) has signed a secured credit agreement with Trafigura PTE. LTD. for $10 million to enhance its financial position and fund the La Plata Project in Ecuador. The agreement offers flexible financing terms, with an interest rate of LIBOR plus 5% for the first 24 months, increasing to LIBOR plus 7.5% thereafter. The funds will support project development and general operations. CEO Fernando E. Ganoza emphasized the strategic importance of this financing in achieving the company's goals for 2022, including delivering a feasibility study and permitting for La Plata.

Atico Mining Corporation reported its Q4 and full-year 2021 operating results, achieving production of 4.93 million pounds of copper and 3,152 ounces of gold in Q4, and 18.07 million pounds of copper and 11,016 ounces of gold for the year. Copper production was slightly below budget due to a decline in head grade, while gold met guidance. The company aims to pursue the La Plata Feasibility Study and continue exploration in 2022. Guidance for 2022 includes 15,000 to 16,500 thousand pounds of copper and 12,500 to 14,000 ounces of gold.