- In Q2, 2022, Atico produced 3.59 million pounds of copper contained in concentrates – a decrease of 16 per cent over Q2 2021
- Production of 2,811 ounces of gold contained in concentrates – an increase of four per cent over Q2 2021
- Copper head grade of 3.17 per cent – an increase of two per cent over Q2 2021
- Gold head grade of 2.47 grams per tonne – an increase of 24 per cent over Q2 2021
- Copper and gold recovery of 91.4 per cent and 62.9 per cent – no significant change for both copper and gold over Q2 2021
- Atico Mining Corp. (ATY) is down 10.34 per cent trading at C$ 0.26 per share as of 12:19 pm EDT
Atico Mining Corp. (ATY) has announced operating results for the three months ending June 30, 2022 from its El Roble mine.
The El Roble mine is located in Carmen de Atrato, Colombia.
Production for the quarter totaled 3.59 million pounds of copper and 2,811 ounces of gold in concentrates, a decrease of 16 per cent for copper and an increase of four per cent for gold, over the same period in 2021.
Company CEO, Fernando E. Ganoza, commented on the results.
“The El Roble mine delivered well despite having to stop operations for twenty-four days in April. The stoppage was a result of a landslide incident near the dewatering facility, we are very pleased that no injuries resulted from this incident and that damage to equipment was minor. Given the strong start to the year along with good performance during the operating days of this quarter, the Company is already back on track to deliver on guidance for the year. In second half of the year, we will continue our strong focus towards mine vicinity exploration at the El Roble mine, looking to extend mineralization at depth and along strike.”
Overall production was below company budget for the second quarter, entirely explained by the 24-day stoppage which resulted in less than expected processed tonnes.
Atico says the decrease in copper production is mainly explained by the decrease in processed ore, along with a slight decrease in head-grade over the same period last year.
According to the company, gold output completely offset the lower processed tonnes in the quarter as we saw a significant improvement in head grade relative to Q2-2021, while the operation remains on track to deliver on set guidance throughout the remainder of the year.
Atico Mining is a Canadian-based company focused on developing and operating copper-gold projects in Latin America.
Atico Mining Corp. (ATY) is down 10.34 per cent trading at C$ 0.26 per share as of 12:19 pm EDT.