Atico Mining - ATCMF STOCK NEWS

Atico Mining Corporation reports promising results from its 2021 drilling program at the La Plata project in Ecuador. Recent assays confirmed new mineralization zones, particularly around the North Block, with highlights including drill hole CMLP-21-181 yielding 3.02 m at 6.97 g/t Au. Since the start of the year, the company has drilled about 5,500 meters across 26 holes, showcasing continuity in mineralization. The project is under an option agreement to earn 75% ownership, with a preliminary economic assessment indicating inferred resources of 1.9 million tons with attractive grades.

Atico Mining Corporation (OTC: ATCMF) reported its operational results for Q1 2021, revealing a decrease in copper and gold production by 8% and 22%, respectively, from Q1 2020. The quarter's output comprised 4.50 million pounds of copper and 2,134 ounces of gold. Challenges included heavy rains and a week-long mill stoppage. Despite these setbacks, average processed tonnes per day increased by 9%. The company anticipates strong financial results at current metal prices, while focusing on employee health and safety amidst COVID-19 regulations.

Atico Mining Corporation (ATCMF) reported strong financial results for 2020, with income from mining operations of $18.1 million and net income of $8.4 million. The El Roble mine produced 20.6 million pounds of copper and 10,821 ounces of gold at a cash cost of $1.06 per pound. Despite a 3% decline in sales to $59.6 million, the company benefited from higher copper prices and lower production costs, significantly improving its working capital to $22.5 million. Management forecasts continued growth in 2021 amid favorable copper market conditions.

Atico Mining Corporation (OTC: ATCMF) has successfully completed the final systems inspection at the El Roble mine, achieving steady state throughput. The company is launching an aggressive exploration campaign, budgeting up to 30,000 meters of drilling across its projects in 2021. The El Roble mine is expected to contribute robust cash flow amidst favorable metal prices. Initial exploration results at the La Plata project indicate promising mineralization, and a collaboration with InnovExplo aims to enhance target generation from 30 years of data.

Atico Mining Corporation announced a temporary work stoppage at the El Roble mine due to the installation of a new relief valve for the tailings pipeline. This decision follows a malfunction on February 11, 2021, which caused some material discharge. Immediate repairs and inspections were conducted, and Atico confirms no material threat to health or the environment. Operations are expected to gradually resume within 24 hours after provincial authority inspections. The company prioritizes safety while maintaining its focus on copper and gold projects in Latin America.

Atico Mining Corporation (ATCMF) announced an updated NI 43-101 mineral resource and reserve estimate for the El Roble Mine in Colombia, as of September 30, 2020. Measured and Indicated Mineral Resources are estimated at 1.17 million tonnes, averaging 3.26% Cu and 2.33 g/t Au. Proven and Probable Reserves stand at 1.00 million tonnes with an average of 3.02% Cu and 1.76 g/t Au. The report indicates a conversion rate of 87% from resources to reserves, highlighting the mine's capacity to generate significant cash flow amid favorable metal prices.

Atico Mining Corporation (ATCMF) reported its Q3 2020 results, producing 5.55 million pounds of copper and 2,487 ounces of gold, marking a 3% and 25% decrease from Q3 2019, respectively. Despite the declines, operations remain aligned with 2020 objectives amid strict health protocols. The decrease in gold production is attributed to a lower head grade as planned. The company maintains a focus on achieving record revenues in the latter half of the year. With a processing capacity of 1,000 tonnes per day, Atico continues to explore further opportunities in Colombia.

Atico Mining Corporation has granted 2,664,982 incentive stock options, exercisable at $0.48 per share for a period of five years, to its directors, officers, employees, and consultants. This move aligns with the Company’s stock option plan and aims to incentivize its team. Atico focuses on copper and gold mining projects in Latin America, including operating the El Roble mine and developing the La Plata VMS project in Ecuador. The announcement highlights the Company’s strategy for growth and retention of talent.

Atico Mining Corporation (ATCMF) announces a USD $2.5 million term loan from Export Development Canada (EDC) to enhance financial flexibility and support the new dry stack tailings project. CEO Fernando E. Ganoza emphasized this partnership as a strategic move that allows the company to leverage free cash flows from the El Roble mine for exploration initiatives without shareholder dilution. The loan has a 30-month repayment term with an interest rate of LIBOR plus 3.5%, subject to a security agreement and debt service coverage ratio covenant.