- Atico Mining Corporation (OTC:ATCMF) finalizes a loan amendment with Trafigura to restructure US$8.7 million credit.
- Repayment plan includes two installments: US$2.7 million by July 25, 2025, and US$6 million by December 30, 2026.
- Concentrate purchase agreement with Trafigura extended for two more years, ensuring 100% of El Roble mine's production is sold.
Atico Mining Corporation (OTC:ATCMF) has successfully executed a loan amendment and restructuring agreement with Trafigura PTE. LTD., aimed at restructuring its outstanding secured credit facility of US$8.7 million. The restructuring plan entails the repayment of this principal amount in two significant installments: US$2.7 million is due on July 25, 2025, and a subsequent payment of US$6 million is scheduled for December 30, 2026.
The amended loan agreement specifies that the outstanding principal will accrue interest at a rate of SOFR plus 7.5%. This agreement marks a critical step in Atico Mining's efforts to manage its financial commitments effectively.
In addition to the loan restructuring, Atico Mining and Trafigura have agreed to extend their existing commercial concentrate purchase agreement for an additional two years. This extension commits Trafigura to purchasing 100% of the concentrate produced from the El Roble mine, with a minimum annual requirement of 32,000 dry metric tons.
Atico Mining Corporation continues its strategic focus on exploring, developing, and mining copper and gold projects in Latin America. The company generates significant cash flow from operating the El Roble mine and is advancing its high-grade La Plata VMS project in Ecuador.
