(All amounts expressed in US dollars, unless otherwise stated)
VANCOUVER, British Columbia, Aug. 18, 2026 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCID: ATCMF) today announced its financial results for the three and six months ended June 30, 2026, posting income from mining operations of $2.1 million and a net loss of $0.2 million for the quarter. Production for the quarter at Atico's El Roble mine totaled 2.1 million pounds ("lbs") of copper and 1,465 ounces ("oz") of gold in concentrate at a cash cost((1) of $3.48 per payable pound of copper (net of gold credits) ((1) () (2) .
Fernando E. Ganoza, CEO and Director, stated: "During the second quarter, we experienced a temporary decrease in gold output alongside a significant appreciation of the Colombian Peso. These simultaneous developments impacted our operational costs and net earnings for the period. While development at the mine continues to advance quarter-over-quarter, we faced operational bottlenecks that temporarily delayed our primary objectives during the quarter. We expect to resolve these challenges and deliver improvements over the first half of the year in the following quarters."
Second Quarter 2026 Financial Highlights
-- Revenue for the quarter decreased 18% to $17.4 million from $21.1 million
in Q2-2025, reflecting higher metal prices and greater sales volume.
Copper ("Cu") and gold ("Au") accounted for 69% and 31% of the 4,989
(Q2-2025 -- 7,842) dry metric tonnes of concentrate ("DMT") sold during
Q2-2026.
-- The average realized price per metal was $6.26 (Q2-2025 - $4.47) per
pound of copper and $4,417 (Q2-2025 - $3,406) per ounce of gold.
-- Net loss was $0.2 million for the quarter, compared with net income of
$2.7 million in Q2-2025.
-- As of June 30, 2026, the Company had reduced its working capital deficit
to $12.1 million from $20.2 million on December 31, 2025. The Company
also had $6.9 million in long-term loans payable (December 31, 2025 -
$6.7 million) and $2.7 million in long-term arbitration award payable
(December 31, 2025 - $Nil), both due beyond one year.
-- Cash costs(1) in Q2-2026 were $228.90 per tonne of processed ore (up 39%
from Q2-2025 -- $164.26) and $3.43 per pound of payable copper produced
(net of gold credits)(1)(2) (up 98% from Q2-2025 -- $1.73). The increase
in cash cost per tonne primarily reflects the strengthening of the
Colombian peso against the U.S. dollar which increased production costs
when translated into U.S. dollars. Cash costs were also impacted by
higher mining costs associated with higher stope preparation and ground
support costs as mining operations transition to the upper zones of the
mine. The increase in cash costs per pound of payable copper produced was
primarily driven by higher production costs, as mentioned above, and
lower gold by-product credits because of lower head grades during
Q2-2026.
-- Cash margin was $2.83 (Q2-2025 - $2.74) per pound of payable copper
produced(1), up 4% from Q2-2025, as higher realized copper prices in
Q2-2026 were largely offset by higher cash costs per pound noted above.
-- All-in sustaining cash cost per payable pound of copper produced(1)(2) in
Q2-2026 increased to $5.82 from $3.91 in Q2-2025, mainly because of
higher production costs driven by the strengthening of the Colombian peso
against the U.S. dollar, and the lower gold by-product credits (as
described above).
Second Quarter 2026 Consolidated Financial Results
Q2-2026 Q2-2025 % Change
Revenue $17,382,404 $21,108,812 (18%)
---------------------------- ------------ ------------ --------
Cost of sales (15,285,527) (16,620,250) (8%)
---------------------------- ------------ ------------ --------
Income from mining
operations 2,096,877 4,488,562 (53%)
---------------------------- ------------ ------------ --------
As a % of revenue 12% 21%
---------------------------- ------------ ------------ ----------
General and administrative
expenses (1,470,851) (2,042,495) (28%)
---------------------------- ------------ ------------ --------
Income from operations 560,642 2,318,744 (76%)
---------------------------- ------------ ------------ --------
As a % of revenue 3% 11%
---------------------------- ------------ ------------ ----------
Income (loss) before
income taxes (283,135) 2,039,888 (114%)
---------------------------- ------------ ------------ --------
Net income (loss) (191,140) 2,721,126 (107%)
---------------------------- ------------ ------------ --------
As a % of revenue (1%) 13%
---------------------------- ------------ ------------ ----------
Operating cash flow before
changes in non-cash
operating working capital
items((1) 2,713,289 4,933,208 (45%)
---------------------------- ------------ ------------ --------
Second Quarter 2026 Consolidated Operational Details
In Q2-2026, the Company produced 2.1 million lbs of copper, 1,479 oz of gold, and 5,528 oz of silver. Copper and gold production decreased by 4% and 39% for gold, respectively when compared to Q2-2025.
Q2-2025 Q2-2026 % Change
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Production (Contained metals)((3)
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Copper (000s lbs) 2,070 2,161 (4%)
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Gold (oz) 1,479 2,385 (38%)
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Silver (oz) 5,528 8,622 (49%)
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Mine
----------------------------------------- ------- ------- ----------
Tonnes of material mined 53,156 60,633 (12%)
------------------------------------------ ------- ------- --------
Mill
----------------------------------------- ------- ------- ----------
Tonnes processed 53,585 62,007 (14%)
------------------------------------------ ------- ------- --------
Tonnes processed per day 787 830 (5%)
------------------------------------------ ------- ------- --------
Copper grade (%) 1.90 1.74 9%
------------------------------------------ ------- ------- --------
Gold grade (g/t) 1.26 2.08 (39%)
------------------------------------------ ------- ------- --------
Silver grade (g/t) 5.45 11.01 (50%)
------------------------------------------ ------- ------- --------
Recoveries
----------------------------------------- ------- ------- ----------
Copper (%) 92.4 91.1 1%
------------------------------------------ ------- ------- --------
Gold (%) 68.4 57.6 19%
------------------------------------------ ------- ------- --------
Silver (%) 60.7 39.3 55%
------------------------------------------ ------- ------- --------
Concentrates
----------------------------------------- ------- ------- ----------
Copper Concentrates (DMT) 5,332 5,590 (5%)
------------------------------------------ ------- ------- --------
Copper (%) 17.7 17.5 1%
------------------------------------------ ------- ------- --------
Gold (g/t) 8.5 13.3 (36%)
------------------------------------------ ------- ------- --------
Silver (g/t) 32.1 48.0 (33%)
------------------------------------------ ------- ------- --------
Payable copper produced (000s lbs) 1,943 2,019 (4%)
------------------------------------------ ------- ------- --------
Cash cost per pound of payable copper
($/lbs)(1)(2) 3.43 1.73 98%
------------------------------------------ ------- ------- --------
The financial statements and MD&A are available on SEDAR+ and have also been posted on the company's website at http://www.aticomining.com/s/FinancialStatements.asp
Qualified Person
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing it's high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
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