Atico Mining - ATCMF STOCK NEWS

Atico Mining Corporation (OTCQX: ATCMF) has reached a significant agreement with the National Mining Agency (NMA) of Colombia regarding a royalty dispute tied to the El Roble property. The NMA has confirmed the Company's good standing, facilitating a binding arbitration process expected to conclude within 6 to 12 months. As part of this agreement, Atico will follow a five-year payment plan totaling approximately $21.9 million, starting with an initial $1 million payment. The Company is also actively pursuing the renewal of its title for the El Roble claims, set to expire on January 23, 2022.

Atico Mining Corporation (ATCMF) announced that its Colombian subsidiary, Minera El Roble S.A., has received an updated claim for approximately US$21.9 million from the Colombian National Mining Agency regarding unpaid royalties on copper production, as of December 2021. This claim is currently disputed in Colombian courts. The Company maintains that the claims are unwarranted and violate Colombian law, based on legal counsel advice. Atico continues to focus on its operational and development projects, including its El Roble mine and the La Plata VMS project in Ecuador.

Atico Mining Corporation (ATCMF) reported strong Q3-2021 results, achieving a net income of $7.6 million, up 303% year-over-year, driven by a 126% increase in revenue to $31.8 million. Improved production metrics, despite a slight uptick in cash costs to $1.40 per pound of payable copper, contributed to a cash margin of $2.86. The company's cash position stood at $14.3 million, alongside $15 million in receivables. A crucial focus remains on securing the title renewal for the El Roble property, with potential operations halt if not granted by January 2022.

Atico Mining Corporation (ATCMF) reported its Q3 2021 operational results, producing 4.43 million pounds of copper and 2,952 ounces of gold, a 20% decrease in copper but a 19% increase in gold compared to Q3 2020. The decline in copper is attributed to a lower head grade, while improvements in processed tonnes offset some losses. The company's average processed tonnes rose by 7% to 919 per day, while recoveries for copper and gold increased to 93.2% and 59.7%, respectively. Overall, Atico aims to meet its production guidance for 2021 amidst ongoing COVID-19 precautions.

Atico Mining Corporation (ATCMF) has announced the acquisition of the remaining 40% of Compañia Minera La Plata S.A. through its subsidiary, Toachi Mining Inc., for a total of US$10 million. This includes an initial payment of US$7 million and three annual installments of US$1 million. The acquisition consolidates Atico's ownership of the La Plata project, which the Ecuadorian government prioritizes for international mining investment. Recent mining policy reforms in Ecuador, particularly the Executive Decree #151, aim to create a favorable investment environment.

Atico Mining Corporation reported its Q2-2021 financial results, achieving net income of $0.6 million, down from $1.2 million in Q2-2020, primarily due to increased production costs and foreign exchange losses.

Despite a challenging environment, sales increased 5% to $13.4 million, driven by higher realized metal prices. The company ended the quarter with a robust cash position of $16.6 million and significantly reduced current liabilities by $8 million.

Production metrics included 4.46 million lbs of copper and 2,732 oz of gold, while cash costs for payable copper rose to $1.27 per lb.

Atico Mining Corporation (ATCMF) reported Q2 2021 operating results, producing 4.46 million pounds of copper (down 10%) and 2,732 ounces of gold (no change) from its El Roble mine. The reduction in copper output is attributed to severe weather and reduced processed ore. However, gold recovery improved by 6%. Overall production aligns with budget despite challenges. The company anticipates robust financials for H2 2021, driven by current metal prices. Ongoing efforts include renewing claims for the El Roble property and addressing royalty claims from the Colombian National Mining Agency.

Atico Mining Corporation (OTCQX: ATCMF) released positive results from its 2021 drilling program at the La Plata high-grade VMS project in Ecuador. Notable findings include high-grade intersections, such as 171 g/t silver and 11.9% zinc over 6.2 meters. The results confirm new mineralized zones and justify extending drilling efforts from 8,000 meters to 12,000 meters. The La Plata project is known for its substantial inferred resources, with 1.9 million tons averaging 4.1 g/t Au. The company continues to explore additional targets within its concession.

Atico Mining Corporation has appointed Matias Herrero, CPA, CA, as its new Chief Financial Officer effective July 2, 2021. Herrero brings 15 years of experience, including senior roles in finance and management within the mining sector. He replaces Bill Tsang, who served since February 2016. The company also issued 300,000 stock options to Herrero at an exercise price of $0.57 per share. Atico focuses on developing copper and gold projects in Latin America and operates the El Roble mine, while developing the La Plata project in Ecuador.