11:15 AM EDT, 04/10/2025 (MT Newswires) -- Atico Mining ( ATCMF ) on Thursday said representatives from the National Mining Agency (NMA), Governor of the Department of Choco and the Mayor of El Carmen de Atrato, publicly declared that a new 30-year mining title will be granted to its Minera El Roble unit.

The new contract will fall under the current law for mining titles in Colombia. It will also have additional contractual compensation fees for the Colombian State and a community relations expense.

Atico currently holds about 6,500 wet metric tonnes of unsold concentrate in inventory as a security and guarantee to the NMA. "The announcement of the NMA decision to grant a new title includes transferring the pledge on concentrate to future production until the obligation with the Agency is fully repaid," Atico said in a statement.

The company intends to use proceeds of the newly unencumbered concentrate to reduce its liabilities.

Atico Mining ( ATCMF ) also signed an amendment to its existing facility agreement with Trafigura announced in a previous press release. Atico has committed to making a final principal payment, under the current terms, on April 30.

The company agreed to fully settle the outstanding balance of the facility by June 30, following the final principal payment. The amendment will be secured by unsold and unpledged concentrates inventory as collateral.

Shares of the company were last seen up $0.005 to $0.065 on the TSX Venture Exchange.

Price: 0.07, Change: +0.01, Percent Change: +16.67