Atico Produces 2.08 Million Pounds of Cu and 1,465 Ounces of Au in Second Quarter 2026

Atico Mining Corporation (ATY) reported preliminary second-quarter 2026 operating results for its El Roble mine, noting that management stated operations performed as planned despite a year-over-year decline in production volumes. Copper production totaled 2.08 million pounds contained in concentrates, representing a 4% decrease year-over-year. Gold production fell 38% year-over-year to 1,465 ounces contained in concentrates.

Processing volume decreased 14% year-over-year to 53,585 tonnes, averaging 786 tonnes per day. Mine output also declined, with 53,156 tonnes of ore mined, a 12% decrease year-over-year. While head grades shifted, copper head grade increased 10% to 1.91%, whereas gold head grade decreased 40% to 1.25 g/t. Recovery rates improved during the period, with copper recovery reaching 92.3% (up 1 percentage point) and gold recovery rising 18% year-over-year to 68.0%. Concentrate inventory closed at 1,491 dry metric tonnes (dmt) following one shipment.

Management attributed the lower gold output to mining through a lower-grade zone and targeted an updated reserve report and production gains in the second half of 2026. Reserve information effective March 12, 2024, indicates El Roble reserves total 828,000 tonnes averaging 2.49% Cu and 2.20 g/t Au, with a mine life extending only to the first quarter of 2027.

Atico Mining Corporation (ATY) released its Q2 production update, a routine quarterly disclosure that highlights a clear miss on the guidance trajectory, particularly for gold. While the company reported headline improvements in copper head grade, which rose 10%, and gold recovery, which increased 18%, these gains were offset by a 40% drop in gold head grade and a 14% decline in throughput.

The most critical factor facing the company is the reserve expiry date of Q1-2027. With only approximately 1.5 years of mine life remaining based on current reserves and no updated reserve report yet available, Atico Mining is mining through its remaining resource base without confirmed replacement. The market has already priced in much of this trajectory, with the stock declining from $0.38 in late January to $0.25 currently. The news is unlikely to trigger a sharp repricing but reinforces a negative operational trend.

Atico Mining Corporation (ATY) operates the El Roble Mine, an underground copper-gold operation in the Chocó department of Colombia, in which it holds a 90% interest. With a processing capacity of approximately 1,000 tonnes per day, the mine currently serves as the company’s sole revenue generator.

The company also holds development-stage assets in Ecuador. The La Plata Project, a 100%-owned volcanogenic massive sulfide (VMS) site near Quito, has completed a Definitive Feasibility Study in 2024 and secured its environmental license and water permits. Atico targets a construction decision for the second half of 2026.

In the El Domo Project, also in Ecuador, Salazar Resources holds a 25% carried interest. An updated NI 43-101 report indicates a net present value of $573 million at an 8% discount rate and a 10% expansion in reserves, with production targeted for July 2027. Both the operating mine in Colombia and the development projects in Ecuador are subject to regulatory and political risks.