Name of the Project
La Plata gold/copper project.

Location
Toachi district, about 100 km south-west of Quito, Ecuador. 

Project Owner/s
Canadian copper/gold miner Atico Mining Corporation (100%), through Compañía Minera La Plata. 

Project Description
The project is a gold-rich volcanogenic massive sulphide deposit that was the subject of small-scale mining from 1975 to 1981.

The 2024 definitive feasibility study proposes a mine with a life of 8.1 years with a throughput of 850 t/d or 310 250 t/y. Total production over the life-of-mine is estimated at 128 474 oz of gold, 1.83-million ounces of silver, 78.3-million pounds of copper and 106.87-million pounds of zinc. 

The project will use variations of bench-, cut- and drift-and-fill mining methods, accessed through several access drifts and ramps. These methods are appropriate for orebodies with varying structural geometries, from flat to near vertical, and thicknesses ranging from 4 m to 8 m.

Potential Job Creation
The project is expected to generate more than 600 direct jobs during construction and up to 1 800 indirect jobs. In commercial production, La Plata is expected to support more than 300 direct and up to 900 indirect jobs. 

Net Present Value/Internal Rate of Return
The 2024 definitive feasibility study estimates a pretax net present value, at a 5% discount rate, of $137-million and an internal rate of return of 32.9%. After tax, the net present value is $93-million and the internal rate of return is 25.1%, with a payback of 3.4 years from commercial production. Base-case prices are $1 920/oz gold, $23/oz silver, $4.05/lb copper and $1.50/lb zinc. 

Capital Expenditure
Initial capital expenditure is estimated at $91.39-million, excluding VAT, in the 2024 definitive feasibility study. Total life-of-mine capital is about $121-million excluding VAT, including about $30-million in sustaining capital. These study estimates are separate from the $157.9-million investment covered by the investment protection agreement. 

Planned Start/End Date
Confirmed construction and production dates have not been stated in the September 29, 2026, financing announcement. The company is advancing preconstruction activities, subject to financing conditions and the required approvals. 

Latest Developments
Atico announced a $95-million secured project finance facility with Trafigura and a convertible debenture agreement with a Trafigura affiliate on September 29, 2026. The debenture has a face value of $16.4-million, but would provide $16-million in cash, making the combined potential cash funding $111-million. 

The project facility will fund construction and development, subject to drawdown conditions, at an adjusted term secured overnight financing rate plus 7.5% a year. Debenture proceeds are intended for existing debt repayment, preconstruction activities and general corporate purposes. 

The private placement and associated $2.5-million shares-for-debt settlement are expected to close around October 13, 2026, subject to customary conditions, including TSX Venture Exchange approval. The first facility advance is expected thereafter.

Atico announced receipt of the environmental licence, and waste and chemical registry authorisations on February 9, 2026. At that time, management was advancing the remaining auxiliary permits. 

The investment protection agreement, announced in September 2025, covers $157.9-million in investment and provides legal and tax stability, an income-tax reduction and access to international arbitration. 

Key Contracts, Suppliers and Consultants
Trafigura (project finance facility) and a Trafigura affiliate (convertible debenture); Ventum Financial (financing adviser); and Kappes, Cassiday & Associates, Andes Colorado, G Mining, Envis, Transmin, IMSS and Sinco (2024 feasibility study). 

Contact Details for Project Information
Atico Mining, corporate head office, tel +1 604 633 9022 or email info@aticomining.com.