Atico Produces 2.08 Million Pounds of Cu and 2,472 Ounces of Au in Third Quarter 2026
Atico reports improved El Roble grades and gold recovery as La Plata financing closes, though a one-year reserve cliff remains.
Atico Mining Corporation (ATY) reported preliminary third-quarter 2026 production figures for its El Roble mine, highlighting a shift in output mix and operational efficiency. Copper production totaled 2.08 million pounds contained in concentrates, representing a 7% decline year-over-year. Conversely, gold production reached 2,472 ounces contained in concentrates, marking a 30% increase from the same period last year.
The mine processed 52,494 tonnes during the quarter, a 15% decrease year-over-year. However, the average daily throughput rose 8% to 802 tonnes per day. This operational adjustment coincided with significant improvements in head grades; copper grades increased 8% to 1.97%, while gold grades jumped 37% to 2.09 grams per tonne. Recovery rates also saw gains, with gold recovery rising 11% year-over-year to 70.1%, while copper recovery remained flat at 91.4%.
Concentrate inventory at the end of the quarter stood at 2,021 dry metric tonnes, up from an opening balance of 1,491 dry metric tonnes. Management attributed the performance to operational improvements in higher-grade areas, noting that the enhanced gold grade and recovery rates positively impacted all-in sustaining cash costs.
Looking ahead, Atico Mining is advancing a reserves report update, with management explicitly expecting an increase in the mine’s life. The current reserves, effective March 12, 2024, project mine life only through the first quarter of 2027.
Atico Mining Corporation (ATY) released its Q3 production update, which aligns with full-year guidance and reflects the planned transition into higher-grade zones. The company reported a 30% gold production beat alongside improved recovery rates, developments that are operationally positive and expected to meaningfully lower all-in sustaining costs (AISC), partially offsetting the decline in copper volume.
However, the update was overshadowed by the explicit confirmation that current reserves only extend to Q1 2027. The stock has already priced in the Trafigura financing and the permitting milestones.
Atico Mining Corporation is a producing mining company focused on Latin America. Its flagship asset is the El Roble Mine, an underground copper-gold mine in the Chocó department of Colombia, which the company owns 90% of. The company also holds a 100% interest in the La Plata Project, a high-grade VMS copper-gold-zinc-silver project located near Quito, Ecuador.
El Roble has a nominal processing capacity of 1,000 tpd, while La Plata has a planned capacity of 850 tpd. The company's strategy centers on extending El Roble's life through infill drilling and advancing La Plata to construction.