Core Viewpoint - Atico Mining Corporation has entered into a term sheet with Trafigura PTE. LTD. to amend and extend its existing secured credit agreement, with an outstanding principal amount of US$8.7 million [1][2]. Group 1: Financial Terms - The principal amount will be repaid in two installments: US$2.7 million on July 25, 2025, and US$6 million on December 30, 2026 [2]. - The outstanding principal amount will incur interest at a rate of SOFR plus 7.5% [2]. Group 2: Contractual Agreements - The existing commercial concentrate purchase contract with Trafigura has been extended for an additional two years, covering 100% of the concentrate produced from the El Roble mine, with a minimum tonnage of 32,000 dmt per year [2]. - Closing of the transactions is contingent upon finalizing definitive documentation and obtaining approval from the TSX Venture Exchange, expected by June 30, 2025 [3]. Group 3: Company Overview - Atico Mining Corporation is focused on exploring, developing, and mining copper and gold projects in Latin America, generating significant cash flow from the El Roble mine and developing the La Plata VMS project in Ecuador [4].
Atico Mining Announces Execution of Term Sheet with Trafigura to Restructure Outstanding Credit Facility