Core Viewpoint - Atico Mining Corporation reported its financial results for Q1 2025, showing a net loss of $0.8 million despite an increase in sales driven by strong metal prices. The company faced operational challenges due to unexpected rock quality conditions at its El Roble mine, impacting production levels and costs [2][3]. Financial Performance - Income from mining operations was $3.7 million, with sales increasing by 11% to $19.9 million compared to $17.8 million in Q1 2024 [4][5]. - The average realized price for copper was $4.44 per pound, up from $3.97 in Q1 2024, while gold prices rose to $2,987 per ounce from $2,180 [4]. - The net loss for the quarter was $0.8 million, compared to a loss of $0.4 million in the same quarter last year [4][5]. Production Details - Copper production totaled 2.2 million pounds, a decrease of 34% from 3.3 million pounds in Q1 2024, while gold production fell by 28% to 1,578 ounces [7][8]. - The cash cost per pound of payable copper produced was $3.00, an increase of 17% from $2.57 in Q1 2024 [9]. - The company processed 54,978 tonnes of ore, down 16% from the previous year, with a copper grade of 1.96%, a decrease of 22% [8][9]. Operational Challenges - The operational performance was hindered by unexpected rock quality conditions, leading to slower mine development and lower production levels [3]. - The company anticipates gradual improvements in production and grade in the upcoming quarters as it regains its planned development pace [3][4]. Future Outlook - Atico is progressing with the engineering and permitting for the La Plata project while conducting near-mine drilling at El Roble to replenish resources and extend the mine's life [3]. - The company expects to recover most of the lost production for the year as operational challenges are addressed [3].
Atico Reports Consolidated Financial Results for First Quarter of 2025