Core Viewpoint - Atico Mining Corporation has secured a new 30-year mining title for the El Roble mine, which is expected to significantly de-risk operations and improve liquidity through the sale of previously pledged concentrate [2][4]. Group 1: New Mining Title - The Colombian National Mining Agency has granted Atico a new 30-year mining title for the El Roble mine, following negotiations and in accordance with the preference rights stated in decree 2477 from 1986 [2]. - The new title will comply with Colombian mining law (Law 685 from 2001) and includes additional compensation fees for the Colombian State and community relations expenses [3]. Group 2: Financial Implications - Atico held approximately 5,000 wet metric tonnes of unsold concentrate valued at about US$2000 per dry metric tonne, which will now be released from pledge, allowing the company to use proceeds from sales to enhance liquidity and reduce liabilities [4]. - The company has made progress in its payment obligations, having paid US$12 million through a payment plan, with adjustments for inflation and interest, and plans to pay the remaining US$10.7 million in 2025 and 2026 [5]. Group 3: Operational Focus - The new mining title and the ability to sell concentrate will enable Atico to improve its balance sheet and focus on extending the life of the El Roble mine through an aggressive near-mine drill program [2].
Atico Mining Signs New 30-Year Title for El Roble Mine and Receives Ruling Clarification from Tribunal