Atico Mining Corporation (QX) (ATCMF) Quote

Atico Produces 3.73 Million Pounds of Cu and 2,874 Ounces of Au in Second Quarter 2024

Vancouver, July 18, 2024 -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2024 from its El Roble mine. Production for the quarter totaled 3.73 million pounds of copper and 2,874 ounces of gold in concentrates, an increase of 33% for copper and 25% for gold, respectively, over the same period in 2023.

“The El Roble mine continued to operate within set expectations for this quarter as we saw improvements in most metrics over the previous quarter and especially over the same period last year” said Fernando E. Ganoza, CEO. “In the second half of the year, we are anticipating a continuation of good production results as we gain further access to the newly discovered areas of high-grade ore. In parallel, we will continue looking for opportunities to improve metal output to take advantage of the higher metal price environment, as well as the continuation of the near mine exploration program aimed at replenishing resources and extending the life of mine.”

Second Quarter Operational Highlights

Production of 3.73 million pounds of copper contained in concentrates; an increase of 33% over Q2 2023.
Production of 2,874 ounces of gold contained in concentrates; an increase of 25% over Q2 2023.
Average processed tonnes per day of 852, an increase of 7% over Q2 2023.
Copper head grade of 2.59%, an increase of 27% over Q2 2023.
Gold head grade of 1.94 grams per tonne; an increase of 9% over Q2 2023.
Copper and gold recovery of 92% and 65%; an increase of 1% for copper and 11% for gold, respectively, over Q2 2023.

Second Quarter Concentrate Shipment

The Company had scheduled one large concentrate shipment of around 9,100 dry metric tonnes for this period. Due to poor weather conditions and shipping delays, the vessel had arrived considerably later than scheduled and as a result approximately 60% of the planned tonnes of concentrate were loaded by the June 30th cutoff date. The remaining 40% of the planned second quarter shipment was loaded on the following two days. In accordance with our accounting policies, the revenue derived from tonnes loaded after June 30th will be recognized in the subsequent quarter along with the expected revenue from the shipment planned for the third quarter.

Therefore, the second quarter financials will be impacted by lower recognized revenues from this concentrate shipment which will then be offset by higher recognized revenue for the third quarter.

Second Quarter Operational Details
Q2 2024 Total Q2 2023 Total % Change
Production (Contained in Concentrates)
Copper (000s pounds) 3,728 2,804 33%
Gold (ounces) 2,874 2,294 25%
Mine
Tonnes of ore mined 70,826 72,340 -2%
Mill
Tonnes processed 71,079 68,471 4%
Tonnes processed per day 852 800 7%
Copper grade (%) 2.59 2.04 27%
Gold grade (g/t) 1.94 1.78 9%
Recoveries
Copper (%) 92.0 91.1 1%
Gold (%) 65.2 58.7 11%
Concentrates
Copper and Gold Concentrates (dmt) 9,200 6,784 36%

Payable copper produced (000s lbs) 3,505 2,639 44%

Note: Metal production figures are subject to adjustments based on final settlement. The reported results are preliminary in nature and are awaiting independent lab verification.

Concentrate Inventory

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.
Q2 2024 Total
Amounts in dry metric tonnes
Opening inventory 7,002
Production 9,200
Sales (5,603)
Adjustments 28
Number of shipments 1
Closing inventory 10,627

Note: Concentrate figures are subject to adjustments based on final settlement.

El Roble Mine

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.

El Roble’s reserves estimate, with an effective date of March 12, 2024, includes Proven and Probable mineral reserves of 828 thousand tonnes averaging 2.49% Cu, 2.20 g/t Au and a life of mine until Q1-2027. A full NI 43-101 technical report is available on SEDAR+. For more information on the reserves estimate refer to SEDAR+ and on the Company’s website.

Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.

Qualified Person

Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include 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; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com

Atico Mining Corp.
Suite # 501
543 Granville St.
Vancouver, BC
V6C 1X8
Tel: +1.604-633-9022

Weekly Chart

It has done well, check out Orea too, will post there.

Thanks for tip Geo. Will look into and start accumulating.

T

Hi T, yes, still big position and pretty good profit on it. All miners have been hit but copper$ still great. They need another VMS at El Roble, and now that they own all of La Plata they will drill more there to see if they can find more there too.

Ecuador has much more pro mining gov now after election. Than we do.

They come to them and ask how can we speed up your mine build?

Galane is dirt cheap.
"Buy Profitable And Future 110,000oz Miner Galane Gold For $26.6 Million, Comparison To $316 Million Pure Gold" https://seekingalpha.com/instablog/535947-darp-research/5648819-buy-profitable-and-future-110000oz-miner-galane-gold-for-26_6-million-comparison-to-316

This is how it starts:
Summary
At .0812 a share Galane has a $26.6 Market Cap, sells for <1 Times Book, <10PE and has EV/EBITDA of 2.92, yet will be one of the fastest growing miners.

The Galaxy Project will grow from current 15,000oz to 43,000oz gold a year in 2023 then 60,000oz in 2025 and has an IRR of 1,051% and an AISC of $777.
They bought the ready to go Summit gold and silver mine with Banner Mill in New Mexico (100,000oz Au, 6,500,000oz Ag) with NPV of $96 million for $16 million.

How does Galane compare to similar production sized Pure Gold? Galane has 1/12th the mkt cap. Is this justified by other factors?

Galane Gold (GGOFF) is a gold miner with the Galaxy Mine in South Africa, the Mupane Mine in Northeastern Botswana and the Summit Gold/Silver Mine in New Mexico USA. They had $49 million revenue in 2020 with $12.1 million positive EBITDA and have started an explosive growth period.
In mining a 30% IRR (Internal Rate of Return) is considered good and 50% IRR as great. So when I saw that Galane Gold (GGOFF) had a 1,051% IRR on the Galaxy Project was all ears. It is the highest IRR have ever seen for any mine project or for that matter any oil project either.

One conclusion for 2022: So at 60,000oz and combined AISC will guess at $1100 (Mupane is a lot higher than Galaxy) and $1775 gold that would produce $40.5 million profit. And Galane is currently $26.6 million market cap? That is insanely undervalued. It is 0.6 PE for a high growth company. If we assign an 8 PE that is a market cap of $404 million or about $90 million more than Pure Gold is today. That is about a 15 bagger.

Geo, you still in this stock? Any thoughts?

T

Thanks geo.

T

Below the year and Q I posted is excellent, basically everything was better. Just out.

Atico 2020 Results:

Net income for the year ended December 31, 2020 amounted to $8.4 million, compared with $6.9 million for last year.
All-in sustaining cash cost per payable pound of copper produced(1)(2) for the year was $1.53 (2019 - $1.81).

At the end of the year, 5,291 (2019 - 3,104) wet metric tonnes (“WMT”) of non-invoiced concentrate remained at the Company’s warehouses.
2020 Consolidated Operating Highlights and Review
Ore processed increased 24% year-on-year;
Copper head grade decreased 1% year-on-year;
Gold head grade decreased 16% year-on-year;
Concentrate production increased 27% year-on-year;
Copper metal production increased 22% year-on-year; and
Gold metal production increased 3% year-on-year.

That 3,104 tons of copper concentrate will put Q1 on steroids. Just amazing in light of Covid how good they did in 2020.

https://ceo.ca/@nasdaq/atico-reports-consolidated-financial-results-for-2020 BTW not on Atico site, an accidental release?

Here is article did on that Q4 would be good: https://seekingalpha.com/instablog/535947-darp-research/5553739-atico-stock-will-not-ignore-copper-price-and-coming-q4-much-longer

It's going to be ok
https://www.theguardian.com/environment/2021/mar/02/arizona-oak-flat-biden-administration-pauses-transfer-native-american-site-mining-resolution-copper?utm_term=a04130d2fd9993ff9b973e5d36f72114&utm_campaign=GreenLight&utm_source=esp&utm_medium=Email&CMP=greenlight_email

There is a Seeking Alpha article on Atico
Atico Stock Will Not Ignore The Copper Price And Coming Q4 Much Longer
https://seekingalpha.com/instablog/535947-darp-research/5553739-atico-stock-will-not-ignore-copper-price-and-coming-q4-much-longer

Summary
The market has been ignoring that the Q4 will be spectacular for growth and profits due to shipment timing and copper price.

Atico is a deep value copper/gold miner with one of the lowest copper AISCs there is on their VMS style deposit El Roble mine.

The future La Plata Mine is much richer and has Gold, Copper, Zinc, Silver and Lead. The AISC for Copper will be negative due to other credits.

---more

Yes T, think it is the cheapest copper miner there is out there. have a bunch.

Geo, we meet again. Still in this?

T
Still loaded on BWMG?

New report on Atico, free for 1 week https://seekingalpha.com/article/4390418-adriatic-metals-and-atico-mining-best-picks-in-pure-play-volcanogenic-massive-sulfide?v=1605845239&comments=show

great stock,Atico Continues to Intercept High Grade Massive Sulphides Near Surface and at Depth Reporting 8.6g/t Au, 73.4g/t Ag, 10.9% Cu, and 5.6% Zn Over 5.33 Meters, Extending High Grade Zones Beyond Known Mineralization at La Plata Project in Ecuador.

That was today, full story is here http://aticomining.com/_resources/presentations/corporate-presentation.pdf

OTC Markets Group Welcomes Atico Mining Corp to OTCQX

https://finance.yahoo.com/news/otc-markets-group-welcomes-atico-110000550.html

$ATCMF The Now Corporation (OTC:NWPN) Contemplates Uplisting
Press Release | 08/05/2020
August 5, 2020
OTC Disclosure & News Service

Palm Beach, FL —

This release includes additional documents. Select the link(s) below to view.
nwpn pr 8-5.pdf
NWPN logo


The Now Corporation (OTC:NWPN) is pleased to announce that it is contemplating uplisting to the OTCQB. To qualify, the company will need to meet the following criteria outlined by OTC Markets Group Inc., The OTCQB® Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must meet $0.01 bid test and may not be in bankruptcy.
Alternatively, The Now Corporation is considering a fresh listing for some of its holdings based on potential synergistic agreements that are now in the Letter of Intent stages pending signatures. One agreement is for a major celebrity to join the company to help promote a brand that will contemporaneously be acquired.
Ken Williams, CEO of The Now Corporation, states,If the LOI is signed followed by a final agreement, shareholders will benefit from the expected revenues flowing in from the power of the brand and the corresponding celebrity firepower that will help to promote it.

Updates will be forthcoming
About
The Now Corporation is a publicly traded, bio-pharmaceutical research company focused on the research, education and production of Scientific-Grade Cannabidiol (CBD) from hemp and Tetrahydrocannabinol (THC) to be used for medicinal purpose, while focusing on pursuing business opportunities in the growing medical and recreational marijuana sector. Through its acquired assets, The Now Corporation is seeking to invest in our businesses associated with the growing, marketing, research and development, training, distribution and retail sale of scientific-grade medicinal cannabis, both in the United States and Canada. At The Now Corporation, we unlock and advance medicine for human life around the world, at every stage of life.

For further information, please contact:

Ken Williams
Chief Executive Officer, The Now Corporation
https://thenowcorp.net

Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of The Now Corporation to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

You might b interested in ST RR F... https://www.stockwatch.com/News/Item?bid=Z-C%3aBUD-2935472&symbol=BUD®ion=C

It's on the move! Plenty of room to go.

Buy the dip!!!

This mining stock should be on everybody's radar. It's going to move a lot higher.

Gold and Copper strong
Look for copper to continue moving upward as the demand increases substantially. Gold sailing ahead today big time. This little company is ready for considerable move. These are my opinions. Please do your own due diligence when making decisions whether to buy or sell a security.

Ready to take off!
Paying down debt, not many shares outstanding, real earnings, price of copper and gold up strong. 2018 will be the year for this company to move up strongly. This is my personal opinion. Please do your own due diligence before making investment decisions to buy or sell.

It is can't wait to see how this one fly's.

ATCMF bullish 0.6201


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