“Production results for the period have significantly improved when compared to the first two quarters of the year as the overall operational steady state-run rate was again achieved. We anticipate stronger results to continue throughout the remainder of the year as we get back on track to deliver our 2023 production guidance” said
Third Quarter Operational Highlights
- Production of 3.80 million pounds of copper contained in concentrates; no significant change over Q3 2022.
- Production of 2,537 ounces of gold contained in concentrates; a decrease of 7% over Q3 2022.
- Average processed tonnes per day of 888, an increase of 13% over Q3 2022.
- Copper head grade of 2.48%, a decrease of 21% Q3 2022.
- Gold head grade of 1.75 grams per tonne; a decrease of 23% over Q3 2022.
- Copper and gold recovery of 93.0% and 60.5%; an increase of 2% for copper and a decrease of 3% for gold, respectively over Q3 2022.
Third Quarter Operational Details
Q3 2023 | Q3 2022 | % Change | ||
Production (Contained in Concentrates) | ||||
Copper (000s pounds) | 3,794 | 3,753 | 1 | % |
Gold (ounces) | 2,537 | 2,724 | -7 | % |
Mine | ||||
Tonnes of ore mined | 77,947 | 66,245 | 17 | % |
Mill | ||||
Tonnes processed | 74,580 | 59,689 | 25 | % |
Tonnes processed per day | 888 | 786 | 13 | % |
Copper grade (%) | 2.48 | 3.12 | -21 | % |
Gold grade (g/t) | 1.75 | 2.28 | -23 | % |
Recoveries | ||||
Copper (%) | 93.0 | 91.5 | 2 | % |
Gold (%) | 60.5 | 62.0 | -3 | % |
Concentrates | ||||
Copper and Gold Concentrates (dmt) | 9,341 | 9,048 | 3 | % |
Payable copper produced (000s lbs) | 3,567 | 3,525 | 1 | % |
Note: Metal production figures are subject to adjustments based on final settlement.
Concentrate Inventory
The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.
Q3 2023 | |
Amounts in dry metric tonnes | |
Opening inventory | 6,854 |
Production | 9,341 |
Sales | -8,325 |
Number of shipments | 1 |
Adjustments | 73 |
Closing inventory | 7,943 |
Note: Concentrate figures are subject to adjustments based on final surveys and final settlement of sales.
The
Since obtaining control of the mine on
Qualified Person
Mr.
About
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in
ON BEHALF OF THE BOARD
CEO
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Tel: +1.604.633.9022
Neither the
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated
© OMX, source