Welcome to our dedicated page for Atico Mining news (Ticker: ATCMF), a resource for investors and traders seeking the latest updates and insights on Atico Mining stock.
News for Atico Mining Corporation (OTCQX: ATCMF) centers on its activities as a copper and gold producer and developer in Latin America. The company’s releases highlight operating performance at the high-grade El Roble underground mine in Colombia, where it produces a copper-gold concentrate, and progress at the La Plata VMS project in Ecuador.
Investors following ATCMF news will see regular updates on quarterly production, copper and gold grades, recoveries, and operating metrics such as tonnes mined and processed. Atico also reports cash costs and all-in sustaining cash costs per pound of payable copper, together with commentary on how mine development, ore grades, shipping schedules and metal prices influence financial results.
Another key theme in Atico’s news flow is project advancement and permitting. The company has reported milestones at La Plata, including completion of the environmental consultation process, the granting of a water use permit for industrial activities, and the signing of an Investment Protection Agreement with the Ecuadorian state that provides legal and tax stability for the project. These updates outline regulatory steps, community participation processes and conditions attached to permits.
Capital structure and financing developments also appear in Atico’s announcements. Examples include amendments to debenture agreements, rights offerings, listed issuer financing offerings and repayments related to agreements with the National Mining Agency of Colombia. Technical news, such as high-grade drill intercepts and the discovery of new sulphide bodies at El Roble, provides additional insight into exploration results and resource potential.
For readers tracking ATCMF, this news feed brings together operational, financial, technical and permitting updates that shape Atico Mining Corporation’s copper and gold business in Colombia and Ecuador.
Atico Mining Corporation (OTCQX: ATCMF) reported a landslide near its operations on April 1, 2022, resulting in minor equipment damage but no injuries. Operations paused temporarily, with repairs estimated to take two to three weeks. Importantly, the company does not plan to adjust its 2022 annual guidance as it expects to make up lost production time. Atico continues to focus on its copper and gold mining projects in Latin America, including the El Roble mine and the La Plata VMS project in Ecuador.
Atico Mining Corporation has received approval to modify the mining regime of its La Plata project in Ecuador, allowing it to legally extract up to 1,000 tonnes per day. This transition enables the project to enter the economic evaluation stage, supported by strong cash flow from its El Roble mine and a recent $10 million financing. The company aims to complete a feasibility study and obtain necessary permits for the project by 2022. The La Plata project is among high-grade gold-copper VMS deposits, with inferred resources of 1.9 million tons at an average grade of 4.1 g/t Au.
Atico Mining Corporation (OTCQX: ATCMF) has signed a secured credit agreement with Trafigura PTE. LTD. for $10 million to enhance its financial position and fund the La Plata Project in Ecuador. The agreement offers flexible financing terms, with an interest rate of LIBOR plus 5% for the first 24 months, increasing to LIBOR plus 7.5% thereafter. The funds will support project development and general operations. CEO Fernando E. Ganoza emphasized the strategic importance of this financing in achieving the company's goals for 2022, including delivering a feasibility study and permitting for La Plata.
Atico Mining Corporation reported its Q4 and full-year 2021 operating results, achieving production of 4.93 million pounds of copper and 3,152 ounces of gold in Q4, and 18.07 million pounds of copper and 11,016 ounces of gold for the year. Copper production was slightly below budget due to a decline in head grade, while gold met guidance. The company aims to pursue the La Plata Feasibility Study and continue exploration in 2022. Guidance for 2022 includes 15,000 to 16,500 thousand pounds of copper and 12,500 to 14,000 ounces of gold.
Atico Mining Corporation and Responsible Mining Solutions Corp. have successfully commissioned the Integrated Tailings Dewatering Plant (ITDS) at the El Roble mine. This innovative plant transitions from conventional tailings management to 'dry-stacking' operations, enhancing environmental sustainability. Operational since August 2021, the ITDS processes 1,200 tonnes per day, significantly increasing tailings density, which allows for safe disposal while recycling 75% of mill process water. This project reflects Atico's commitment to long-term operational viability and community well-being.
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.