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Atico production doubles despite COVID-19 measures

Atico Mining (TSXV: ATY) has reported a substantial increase in first quarter production at its 90%-owned El Roble copper-gold mine in Colombia, in spite of a reduced workforce and strict protocols in response to the COVID-19 pandemic.
Atico production doubles despite COVID-19 measures Atico production doubles despite COVID-19 measures Atico production doubles despite COVID-19 measures Atico production doubles despite COVID-19 measures Atico production doubles despite COVID-19 measures

Atico Mining’s El Roble operations in Colombia

Staff reporter

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It produced 4.93 million pounds of copper and 2,736 ounces of gold in concentrates, up 108% and 85% respectively, compared with the March quarter of 2019.

"The El Roble mine operated continuously under strict prevention protocols and newly implemented health policies for predominance of the quarter, with results in line with 2020 objectives," CEO Fernando Ganoza said.

The mine had 42% of the usual work force on site and contractors were down to a minimum.

Atico said it was prepared to swiftly make any necessary adjustments and had also deployed resources to help with prevention and treatment efforts and to support local communities, including donating food and medical supplies.

El Roble produced 16.85Mlb of copper with 10,480oz of gold in concentrates in 2019.

Atico has earlier put 2020 guidance at 20-21Mlb and 10,500-11,500oz respectively.

Its shares spent much of 2019 around the C30c mark before reaching 44c in January then falling to a one-year low of 16c last week.

They gained 4.76% yesterday to close at 22c, capitalising it at $26.2 million (US$18.6 million).