ATICO MINING (ATCMF) Stock News, Mar-Jun 2025

Atico Mining Corporation has filed amended offering documents for its concurrent Rights Offering and LIFE Offering, aiming to raise total gross proceeds of up to $8.54 million. The Rights Offering targets approximately $5.34 million, while the LIFE Offering aims to raise about $3.2 million. The amendments include disclosure of a term sheet with Trafigura PTE. Ltd. regarding modifications to Atico's existing secured credit agreement. The company operates the El Roble copper-gold mine and is developing the La Plata VMS project in Ecuador. The offerings are not available to U.S. investors as the securities are not registered under U.S. securities laws.

Atico Mining (ATCMF) has entered into a term sheet with Trafigura to restructure its outstanding secured credit facility of US$8.7 million. The repayment will be made in two installments: US$2.7 million on July 25, 2025, and US$6 million on December 30, 2026. The outstanding amount will bear interest at SOFR plus 7.5%. Additionally, the companies extended their concentrate purchase agreement for two more years, with Trafigura continuing to purchase 100% of El Roble mine's concentrate production, subject to a minimum of 32kdm per year. The transaction's closing, expected by June 30, 2025, is subject to final documentation and TSX Venture Exchange approval.

Atico Mining Corporation (ATCMF) announces a dual financing initiative comprising a Rights Offering to raise up to $5.3M and a concurrent LIFE Offering to raise up to $3.2M, totaling approximately $8.5M. The Rights Offering allows shareholders to purchase units at $0.11 each, with each unit containing one common share and a warrant exercisable at $0.18 for two years. The LIFE Offering follows similar terms. The company plans to use proceeds for developing the La Plata project in Ecuador, additional drilling at El Roble mine in Colombia, and general corporate purposes. Additionally, Atico is working to refinance US$8.7M in debt due to Trafigura by June 30, 2025, having already repaid US$1.3M. Directors and officers are expected to participate significantly in the offerings, subject to availability.

Atico Mining reported its Q1 2025 financial results, posting income from mining operations of $3.7M but a net loss of $0.8M. The El Roble mine produced 2.2M pounds of copper and 1,578 ounces of gold at a cash cost of $3.00 per payable pound. Sales increased 11% to $19.9M compared to Q1 2024. Production was below schedule due to challenging rock quality conditions, with copper production down 34% and gold production down 28% year-over-year. The company faced a working capital deficit of $10.1M and had $6.1M in long-term loans. Despite operational challenges, strong metal prices and concentrate inventory sales helped maintain financial results in line with budget. Management expects gradual improvements in Q2 and Q3 to recover most of the lost production.

Atico Mining (ATCMF) has secured a new 30-year mining title for its El Roble mine from the Colombian National Mining Agency. The agreement includes the release of approximately 5,000 wet metric tonnes of previously pledged concentrate inventory, valued at around US$2,000 per dry metric tonne. The company plans to use proceeds from the concentrate sale to improve liquidity and reduce liabilities. Additionally, Atico received clarification on a tribunal ruling regarding payments to the NMA, with the previously paid US$12 million to be adjusted for inflation and interest. The company recently paid US$3 million as part of the payment plan, with the remaining US$10.7 million to be paid during 2025 and 2026.

Atico Mining Corporation (ATCMF) reported its Q1 2025 operating results from the El Roble mine, showing significant production declines. The company produced 2.23 million pounds of copper (down 33%) and 1,553 ounces of gold (down 28%) compared to Q1 2024. The underperformance was attributed to unexpected challenging rock quality conditions, which delayed transition to new mining areas. Key metrics showed declines across the board: - Average processed tonnes per day: 773 (-16%) - Copper head grade: 1.97% (-22%) - Gold head grade: 1.40 g/t (-15%) Despite challenges, copper recovery improved by 2% to 93.6%, while gold recovery remained stable at 62.7%. CEO Fernando Ganoza expects progressive improvements in Q2 and Q3 2025 to recover planned development rates and make up for most of the lost production.

Atico Mining (TSX.V: ATY | OTC: ATCMF) reported its 2024 financial results, with income from mining operations of $14 million but a net loss of $18.7 million. The El Roble mine produced 13.7 million pounds of copper and 9,106 ounces of gold.

Revenue increased 19% to $68.5 million, with copper and gold accounting for 83% and 17% of sales respectively. The average realized prices were $4.19 per pound of copper and $2,452 per ounce of gold.

A significant $24.5 million pre-tax loss was recognized due to an arbitration ruling requiring back payment of copper royalties since 1994. The company faces a working capital deficit of $11.3 million and has $7.0 million in long-term loans payable, plus an $8.5 million non-current arbitration award payable.

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 has received an unfavorable ruling in its royalty dispute with Colombia's National Mining Agency (NMA) regarding the El Roble property. The tribunal ordered the company to pay approximately US$29 million in back copper royalties dating from 1994, adjusted for Colombian inflation and interest.

The company has already paid approximately US$12 million (estimated at US$15 million when adjusted) through an ongoing Payment Plan with the NMA. Atico currently holds about 6,500 wet metric tonnes of unsold concentrate as security, valued at approximately US$2000 per dry metric tonne at recent metal prices.

The ruling could significantly impact Atico's financial position, affecting its working capital and ability to meet existing and future financial obligations. The company is reviewing the decision with legal counsel and seeking clarification on several points with the Tribunal and NMA.