Atico Mining Corporation reports operating and financial developments tied to copper and gold mining in Latin America. Its recurring updates center on the El Roble underground mine in Colombia, which produces copper-gold concentrate, and on exploration drilling, production results, concentrate shipments, cash costs, working capital, and capital-structure actions.
Company news also covers permitting and development activity for the high-grade La Plata VMS project in Ecuador. Atico’s disclosures commonly connect mine output, assay results, regulatory approvals, and project advancement with its broader focus on exploring, developing, and mining copper and gold assets.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Atico Mining Corporation (ATCMF) announced the granting of 1,913,936 incentive stock options at an exercise price of $0.205 per share. These options are available for directors, officers, employees, and consultants for a five-year term, aligning with the Company's stock option plan.
Atico is focused on copper and gold projects in Latin America, particularly generating cash flow from the El Roble mine and developing the La Plata VMS project in Ecuador. The Company also seeks advanced stage acquisition opportunities to enhance growth.
Atico Mining Corporation reported its financial results for the year ending December 31, 2022, showing a net loss of $3.4 million, a decline from a net income of $7.0 million in 2021. Income from mining operations was $16.0 million, with total sales dropping 10% to $65.2 million due to lower metal prices and production quantities. Production figures at the El Roble mine included 15.0 million pounds of copper and 11,213 ounces of gold. Cash cost per payable copper produced was $1.47, rising 2% from 2021. Despite challenges like lower average copper prices, the company improved its working capital to $18.2 million. Going forward, Atico plans to enhance resources at El Roble and progress on the La Plata project.
Atico Mining Corporation has announced updates on the exploration program at its El Roble property in Colombia as of February 14, 2023. A strategic review of historical and recent exploration has identified high-priority targets, notably Anomaly 8, which shows up to 11% copper in hydrothermal outcrops. The ongoing drilling program aims to further investigate these anomalies, with plans for an additional 3,050 meters of drilling throughout 2023. The El Roble mine boasts Proven and Probable reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold. Atico continues to position itself as a growth-oriented company focused on copper and gold development.
Atico Mining Corporation (OTCQX: ATCMF) reported its operational results for Q4 2022 and the full year ended December 31, 2022. The El Roble mine produced 2.95 million pounds of copper and 3,083 ounces of gold in Q4, and 15.03 million pounds of copper and 11,254 ounces of gold for the entire year. Yearly copper production declined by 17%, while gold production rose by 2%. Despite production challenges, the company plans to expand the El Roble project and commence a feasibility study for La Plata. The company projects 14,000 to 15,000 pounds of copper and 10,500 to 12,000 ounces of gold for 2023.
Atico Mining Corporation (ATCMF) announced the approval of its Environmental Impact Assessment (EIA) for a 69 kV powerline required for the La Plata mining project in Ecuador. The EIA was positively reviewed by Ecuador's Environmental Ministry and is deemed a strategic project for the country’s economic growth. This approval allows the construction of a new process plant and enhances the project's connectivity to the national power grid. The La Plata project, known for its high-grade gold and copper resources, has inferred resources of 1.9 million tons at an average grade of 4.1 g/t Au.