- Atico Mining is a Canada-based mining exploration and development company operating out of Latin America. The company is headed by the founders of mining heavyweight Fortuna Silver Mine.
- The company is primarily focused on its robust flagship El Roble Mine project in Colombia, as well as the La Plata project in Ecuador. Both assets are volcanogenic massive sulfide (VMS) deposits with high-grade copper and gold mineralization clustering.
- Atico Mining’s well-engineered business model primes the company for self-financing potential benefiting shareholders and future investors. This model helps to focus on free cash flow generation and reduce dilution.
- The El Roble project currently generates roughly 16 million pounds (lbs) of copper and around 11,000 ounces (oz) of gold per year. The mine has a projected three-year mine life and high-margin potential.
- In 2023, Atico Mining initiated a regional drill campaign at its El Roble Mine project in Colombia.
- The La Plata project has a completed preliminary economic assessment (PEA) and hosts highly prospective exploration targets. The company is currently working on a feasibility study.
- The company acquired the remaining 40 percent of the issued and outstanding shares of Compañia Minera La Plata S.A., which owns the concessions comprising the La Plata project
Volcanogenic massive sulfide (VMS) deposits are some of the world’s most prosperous base metal and precious metal deposits. This type of deposit is found across the globe and often forms in clusters. The oldest known VMS deposits date back three billion years, and new ones are still being formed. VMS deposits have impressive mineralization and high grades, but only 2.2 percent of global gold production and 6 percent of copper production currently come from VMS deposits.
Atico Mining (TSXV:ATY,OTC:ATCMF), operating in Colombia and Ecuador, has two VMS-style projects surrounded by large land packages. Such strategic positioning gives Atico the potential to mimic successes seen with the Fortuna Silver Mines (TSX:FVI,NYSE:FSM), a company with an estimated market cap of US$1 billion, and was founded by the same family currently leading Atico.
“We have a very strong production profile along with a pipeline of growth prospects for a small company. And we generate a robust, free cash flow from which we can finance all of our exploration plans,” commented Igor Dutina, the company’s corporate development lead.
The stable mining jurisdictions of Latin America have proven to be a premier place for acquisition and mining development for Atico. The company is also looking at other avenues of growth in the possible acquisition of a third project.