Atico Mining Corporation, a growth-oriented company focused on exploring, developing, and mining copper and gold projects in Latin America, released its financial highlights for the year 2023. Despite facing challenges in the first half of the year, the company’s CEO and Director, Fernando E. Ganoza, expressed optimism about the future.
The company reported a net loss of $5.8 million for 2023 due to impairment charges and lower income from mining operations. Sales decreased by 12% to $57.5 million, with copper and gold accounting for a majority of the sales. Cash costs also saw fluctuations, with an increase in costs per pound of payable copper produced.
In terms of operational highlights, the company saw an increase in ore processed and a decrease in head-grade for both copper and gold. Despite these challenges, the company managed to turn around and meet its production guidance for the year.
Looking ahead to 2024, Atico Mining plans to optimize operating costs, expand resources at El Roble mine, and advance the La Plata project through the permitting process and feasibility study. The company invites all shareholders to its Annual General Meeting in June 2024.
Overall, Atico Mining remains focused on enhancing its operational efficiency, exploring new opportunities for growth, and maximizing the potential of its projects in Colombia and Ecuador. With a strategic vision and commitment to success, the company is poised for further achievements in the coming year.
