Atico Mining Provides an Update on New Title Negotiations with The National Mining Agency and New Repayment Terms for Trafigura Facility
Atico Mining (TSX.V: ATY | OTC: ATCMF) has announced that the National Mining Agency (NMA) will grant a new 30-year mining title to Minera El Roble following 18 months of negotiations. The new contract will operate under Law 685 from 2001 and include additional contractual compensation fees and community relations expenses.
The company currently holds approximately 6,500 wet metric tonnes of unsold concentrate as security to the NMA, valued at approximately US$2000 per dry metric tonne at recent prices. The pledge on this concentrate will be transferred to future production until the obligation is fully repaid.
Additionally, Atico has amended its facility agreement with Trafigura, committing to a final principal payment on April 30th and full settlement of the outstanding balance by June 30th. This amendment will be secured by unsold and unpledged concentrates inventory as collateral.
Atico Mining (TSX.V: ATY | OTC: ATCMF) ha annunciato che l'Agenzia Nazionale delle Miniere (NMA) concederà un nuovo titolo minerario di 30 anni a Minera El Roble dopo 18 mesi di trattative. Il nuovo contratto opererà secondo la Legge 685 del 2001 e includerà ulteriori compensi contrattuali e spese per le relazioni con la comunità.
L'azienda attualmente detiene circa 6.500 tonnellate metriche bagnate di concentrato invenduto come garanzia per la NMA, valutato a circa 2000 dollari USA per tonnellata metrica secca ai prezzi recenti. La garanzia su questo concentrato sarà trasferita alla produzione futura fino a quando l'obbligo non sarà completamente ripagato.
Inoltre, Atico ha modificato il suo accordo di finanziamento con Trafigura, impegnandosi a un pagamento finale del capitale il 30 aprile e al saldo completo del saldo dovuto entro il 30 giugno. Questa modifica sarà garantita da un inventario di concentrati invenduti e non impegnati come collaterale.
Atico Mining (TSX.V: ATY | OTC: ATCMF) ha anunciado que la Agencia Nacional de Minería (NMA) otorgará un nuevo título minero de 30 años a Minera El Roble tras 18 meses de negociaciones. El nuevo contrato funcionará bajo la Ley 685 de 2001 e incluirá tarifas de compensación contractual adicionales y gastos de relaciones comunitarias.
La empresa actualmente posee aproximadamente 6,500 toneladas métricas húmedas de concentrado no vendido como garantía para la NMA, valoradas en aproximadamente 2000 dólares estadounidenses por tonelada métrica seca a precios recientes. La garantía sobre este concentrado se transferirá a la producción futura hasta que la obligación se pague por completo.
Además, Atico ha modificado su acuerdo de financiación con Trafigura, comprometiéndose a un pago final del capital el 30 de abril y al pago total del saldo pendiente antes del 30 de junio. Esta modificación estará garantizada por un inventario de concentrados no vendidos y no comprometidos como colateral.
Atico Mining (TSX.V: ATY | OTC: ATCMF)는 국가광업청(NMA)이 18개월의 협상 끝에 Minera El Roble에 30년 광업 타이틀을 새롭게 부여할 것이라고 발표했습니다. 새로운 계약은 2001년 제정된 법률 685에 따라 운영되며, 추가적인 계약 보상료 및 지역 사회 관계 비용이 포함될 것입니다.
현재 이 회사는 NMA에 대한 담보로 약 6,500톤의 습식 메트릭 톤의 미판매 농축물을 보유하고 있으며, 최근 가격으로 건조 메트릭 톤당 약 2000달러로 평가됩니다. 이 농축물에 대한 담보는 의무가 완전히 상환될 때까지 향후 생산으로 이전될 것입니다.
또한, Atico는 Trafigura와의 금융 계약을 수정하여 4월 30일에 최종 원금 지급을 약속하고 6월 30일까지 미지급 잔액을 전액 정산하기로 했습니다. 이 수정 사항은 담보로 미판매 및 미담보 농축물 재고로 보장될 것입니다.
Atico Mining (TSX.V: ATY | OTC: ATCMF) a annoncé que l'Agence Nationale des Mines (NMA) accordera un nouveau titre minier de 30 ans à Minera El Roble après 18 mois de négociations. Le nouveau contrat sera régi par la Loi 685 de 2001 et inclura des frais de compensation contractuels supplémentaires ainsi que des dépenses pour les relations communautaires.
L'entreprise détient actuellement environ 6 500 tonnes métriques humides de concentré invendu en garantie pour la NMA, évalué à environ 2000 dollars américains par tonne métrique sèche aux prix récents. La garantie sur ce concentré sera transférée à la production future jusqu'à ce que l'obligation soit entièrement remboursée.
De plus, Atico a modifié son accord de financement avec Trafigura, s'engageant à un paiement final du principal le 30 avril et au règlement intégral du solde restant d'ici le 30 juin. Cette modification sera garantie par un inventaire de concentrés invendus et non engagés en tant que garantie.
Atico Mining (TSX.V: ATY | OTC: ATCMF) hat angekündigt, dass die Nationale Bergbehörde (NMA) nach 18 Monaten Verhandlungen einen neuen 30-jährigen Bergbautitel an Minera El Roble vergeben wird. Der neue Vertrag wird gemäß dem Gesetz 685 von 2001 betrieben und zusätzliche vertragliche Entschädigungsgebühren sowie Ausgaben für die Beziehungen zur Gemeinschaft beinhalten.
Das Unternehmen hält derzeit etwa 6.500 nasse metrische Tonnen unverkauften Konzentrats als Sicherheit für die NMA, bewertet auf etwa 2000 US-Dollar pro trockene metrische Tonne zu aktuellen Preisen. Die Sicherheit auf diesem Konzentraten wird bis zur vollständigen Rückzahlung der Verpflichtung an die zukünftige Produktion übertragen.
Zusätzlich hat Atico sein Kreditvereinbarung mit Trafigura geändert und verpflichtet sich zu einer endgültigen Hauptzahlung am 30. April und zur vollständigen Begleichung des ausstehenden Saldos bis zum 30. Juni. Diese Änderung wird durch unverkaufte und nicht verpfändete Konzentratsbestände als Sicherheiten abgesichert.
- Secured new 30-year mining title, ensuring long-term operational continuity
- Release of 6,500 tonnes of concentrate inventory from NMA pledge
- Restructured Trafigura debt with clear payment timeline
- Ability to sell concentrate inventory to reduce liabilities
- Additional contractual compensation fees required under new mining title
- Significant debt obligations to be settled by June 30th
- New pledge on future production required for NMA obligations
VANCOUVER, British Columbia, April 10, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce that representatives from the National Mining Agency (“NMA”), joined by the Governor of the Department of Choco and the Mayor of El Carmen de Atrato, have publicly declared that a new 30-year mining title will be granted to Minera El Roble.
Following more than 18-months of negotiations with the Company, the NMA has reached a decision and, during a press conference, revealed that it will grant a new 30-year mining permit to Minera El Roble in the context of the preference right stated in the decree 2477 from 1986. This step marks an important milestone as Atico is expected to once again have a long-term title at its operating mine upon the NMA granting formal title.
Among the information released by the NMA it was included that the new contract will fall under the current law for mining titles in Colombia, Law 685 from 2001, and will have all the requirements in it. It will also have additional contractual compensation fees for the Colombian State and a community relations expense, which the Company has been committed to in a discretionary way over the years.
Atico currently holds approximately 6,500 wet metric tonnes of unsold concentrate in inventory as a security and guarantee to the NMA. At recent metal prices, the approximate value of this concentrate is US
Furthermore, the Company has signed a new amendment to its existing facility agreement with Trafigura announced in a previous press release dated August 8th, 2024. Atico has committed to making a final principal payment, under the current terms, on April 30th. Following this, the Company has agreed to fully settle the outstanding balance of the facility by June 30th. This amendment will be secured by unsold and unpledged concentrates inventory as collateral.
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.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements herein include, but are not limited to, statements regarding the grant of a new 30-year mining title by the NMA, the lifting of the existing pledge on unsold concentrate, the Company’s intention to sell unsold concentrate and the intended use of net proceeds from such sale, the Company’s commitment to make the final principal payment and settle the outstanding balance under its facility agreement, and the pledge of unsold concentrate inventory as collateral. The Company does not intend to and does not assume any obligation to update such forward-looking statements, other than as required by applicable law.
Forward- looking statements involve various known and unknown risks and uncertainties and are based on certain factors and assumptions that may cause the actual results, level of activity, production levels, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to 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; the Company’s substantial reliance on the El Roble mine for revenues and uncertainty around renewal of title to the claims; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia, Ecuador or other countries in which the Company does or may carry on business; risks relating to mining title and surface rights and access; uncertainties and risks related to carrying on business in foreign countries; currency exchange rate fluctuations; fluctuations in metal prices; risks associated with the Company’s outstanding debt; and other risks and uncertainties disclosed under the heading “Risk Factors” in the Annual Information Form of the Company dated September 4, 2024 filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations; that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties; the Company’s ability to sell unsold concentrate at a price approximately consistent with current market prices; permitting, development, expansion and power supply proceeding on a basis consistent with the Company’s current expectations; no material adverse change occurring in the market price of commodities; currency exchange rates being approximately consistent with current levels; forecast mine economics; that mining operations will function and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes; and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
FAQ
What is the duration of Atico Mining's (ATCMF) new mining title at El Roble?
How much concentrate inventory does ATCMF currently hold as security with the NMA?
When will ATCMF settle its outstanding balance with Trafigura?
What will secure the new Trafigura facility amendment for ATCMF?
