Post by
greyowl on Oct 30, 2024 9:09am
Existing Producer & New Ecuador Mine Just Awaiting Go Ahead
Only 20M market capitalization!
Revenues should come in at around $100M
per year at these gold/copper prices.
Net positive cash position.
A favourable or middle of the road ruling on the Colombian courts
on the back tax issue will send ATY much higher.
They deal with multi commodity VMS ore bodies. Mine
life can be extended by just drilling new areas new
zone of VMS deposit.
Very low volume the last few months as both the market maker
and investors/speculators await confirmation news from both
Colombian and Ecuador authorities.
Share price isn't reflecting the current situation IMO.
Backed by Dundee Corp (DC.A)
Expect all miners to load grade thier mining due to very good
gold and good copper prices. Even with lower production rates
the copany should be profitable and be in a good position to
move ahead with their new Ecuador mine.
Recent quote from the president of company
“The El Roble mine is undergoing a transition from the lower areas of the mine towards the new higher-grade reserves in upper areas. The mine is being prepared to shift to a majority of ore being sourced from the new reserves in 2025. The transition implies a planned reduction in production rates, resulting in fewer tonnes of ore mined and processed, as well as lower head grades during this period. We expect this phase to conclude in the fourth quarter, allowing our operations team gradual access to newly discovered high-grade reserves,” stated Fernando E. Ganoza, CEO. “As we move into the remainder of the year, our primary focus will be on achieving a steady state production rate, while ensuring we remain on track to meet our established guidance for the year.”
Comment by
greyowl on Nov 03, 2024 8:22pm
Correction Company was not Net Cash Positive as of June 30,2024 They may be as of Sep 30,2024 due to some of Q2 concentrate being sold in Q3 due to timing of shipments. Book Value as of June 20 was .25 The share price could easily find it's way to 50 to 70 cents with some good news. The convertible debenture issued to Dundee Corp. has a strike price of $.56 US