11:38 AM EDT, 05/26/2025 (MT Newswires) -- Atico Mining ( ATCMF ) on Monday said it signed a new 30-year mining title with the Colombian National Mining Agency (NMA) for the El Roble copper and gold mine.

A company statement noted the new contract will add contractual compensation fees for the Colombian State and a community relations expense, which the company has been committed to in a discretionary way over the years.

The company also said at the time of the granting of the new title, it held about 5,000 wet metric tonnes of unsold concentrate in inventory as a security and guarantee to the NMA. It added the amount of concentrate, valued at approximately US$2000 per dry metric tonne based on recent metal prices, is reduced proportionally every time company makes a payment and the obligation is reduced. The new title also includes releasing of the pledge over concentrate held in inventory.

The company further added it plans to use the proceeds of the previously pledged concentrate sale to add liquidity to the operation and significantly reduce its liabilities.

Additionally, the company said it received clarification from the Bogota Chamber of Commerce on the ruling it announced on March 7, stating the US$12 million which Atico already paid through its payment plan until that date, would be adjusted for inflation and related interest. The Tribunal also instructed the company and the NMA to agree on the continuation of the original payment plan, which was agreed by both on May 12.

The company said it paid approximately US$3 million as per the payment plan on May 5, further reducing the obligation with the NMA and that the remaining roughly US$10.7 million will be paid to the NMA in accordance with the payment plan schedule during 2025 and 2026.

"The new 30-year title is very positive for the company as it significantly de risks the El Roble operation," said Atico Mining's ( ATCMF ) Chief Executive Officer Fernando Ganoza. "The new title also includes the ability to sell the previously pledged concentrate which will inject material liquidity to the company. Together, these developments will allow us to improve the balance sheet position in the short term, fulfill our obligations, and focus on further extending the El Roble life of mine through an aggressive near-mine drill program currently on-going."

The company's shares were last seen up $0.01 to $0.14 on the TSX Venture Exchange.

Price: 0.14, Change: +0.01, Percent Change: +7.69