Copper-Gold Producer in Latin America
Atico Mining Corporation (TSXV:ATY) is a Canadian-based Company focused on becoming a leading mid-tier copper-gold producer through sustainable organic growth at its current operation and through acquisitions in Latin America. The company operates the El Roble copper-gold mine in Colombia and controls 90 percent of a large contiguous and underexplored land package.
El Roble is a high grade mafic-type volcanic massive sulphide (VMS) type deposit with a measured and indicated resource of 1.87 million tonnes grading 3.46 percent copper and 2.27 g/t gold, at a cut-off grade of 0.93 percent copper equivalent.
Atico’s regional exploration work on the property has identified a 10 kilometer-long geological contact zone prospective for VMS mineralization as well as numerous prospective targets for VMS mineralization. Two of these targets are the focus of the Company’s 2016 regional exploration program.
Atico Mining is proud to have a strong balance sheet in the midst of a low price environment. The company’s Q1 financials show $12.1 million in sales and a net income of $1.97 million. All-in sustaining cash cost per payable pound of copper produced for Q1 2016 was $1.36.
“We have had a strong beginning of the year with record production and positive financial results,” commented Fernando E. Ganoza, CEO of Atica Mining. “In the first quarter we saw sustainable growth in throughput at the El Roble mine, which resulted in our third consecutive record quarter at the operation. The financials for the quarter showed an impressive AISCC of $1.36, robust net earnings and a resilient ability to generate cash in a weak metal price environment.”
- Strong share structure: ~18 percent founding group; ~49 percent institutional shareholders (including Frontdeal, Resource Capital Funds, Geologic Resource Partners and Gold 2000); ~33 percent retail shareholders.
- Proven team of mine developers and mine operators with an extensive network in Latin America.
- In production and generating cash flow at El Roble high grade copper-gold mine.
- 90 percent Ownership of producing mine and surrounding claims.M&I resource of 1.87Mt at 3.46 percent copper, 2.27g/t gold.
- Upside at El Roble mine’s underexplored large land package with multiple geochemical and geophysical VMS anomalies.