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 (ATCMF) reported Q2 2021 operating results, producing 4.46 million pounds of copper (down 10%) and 2,732 ounces of gold (no change) from its El Roble mine. The reduction in copper output is attributed to severe weather and reduced processed ore. However, gold recovery improved by 6%. Overall production aligns with budget despite challenges. The company anticipates robust financials for H2 2021, driven by current metal prices. Ongoing efforts include renewing claims for the El Roble property and addressing royalty claims from the Colombian National Mining Agency.
Atico Mining Corporation (OTCQX: ATCMF) released positive results from its 2021 drilling program at the La Plata high-grade VMS project in Ecuador. Notable findings include high-grade intersections, such as 171 g/t silver and 11.9% zinc over 6.2 meters. The results confirm new mineralized zones and justify extending drilling efforts from 8,000 meters to 12,000 meters. The La Plata project is known for its substantial inferred resources, with 1.9 million tons averaging 4.1 g/t Au. The company continues to explore additional targets within its concession.
Atico Mining Corporation has appointed Matias Herrero, CPA, CA, as its new Chief Financial Officer effective July 2, 2021. Herrero brings 15 years of experience, including senior roles in finance and management within the mining sector. He replaces Bill Tsang, who served since February 2016. The company also issued 300,000 stock options to Herrero at an exercise price of $0.57 per share. Atico focuses on developing copper and gold projects in Latin America and operates the El Roble mine, while developing the La Plata project in Ecuador.
Atico Mining Corporation (OTC: ATCMF) reported Q1-2021 results, achieving a net income of $1.2 million, a significant recovery from a $1.6 million loss in Q1-2020. Income from mining operations was $5.3 million, bolstered by a 155% increase in sales to $19.3 million, primarily due to higher copper prices. Despite operational challenges impacting production, cash margin improved to $2.38 per pound of copper. The company ended the quarter with a solid cash position of $9.2 million and $18 million in trade receivables.
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.
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