Atico Mining Enters a US$111.4 Million Financing Package With Trafigura for the La Plata Copper-Gold Project in Ecuador

Atico Mining entered into a US$111.4 million financing package with Trafigura to support construction and development of the La Plata copper-gold project in Ecuador. The package comprises a US$95 million secured project finance facility and a US$16.4 million secured convertible debenture.

Under the project finance agreement, Trafigura will make up to US$95 million available for La Plata's construction and development after customary conditions precedent are satisfied. Drawdowns will be available for approximately 2.5 years following the earlier of the start of construction or March 31, 2027. The facility will bear interest at Adjusted Term SOFR plus 7.5% per year.

Atico expects to receive US$16 million in proceeds from the convertible debenture. Part of the proceeds will repay existing debt, while the remainder will support La Plata pre-construction activities and general corporate purposes.

The financing transactions remain subject to customary closing conditions, including approval from the TSX Venture Exchange. Atico expects the private placement and related debt-settlement transaction to close around October 13, 2026, with the first advance under the project finance facility expected thereafter.

Atico currently classifies La Plata as being at the pre-development stage. La Plata is a high-grade volcanogenic massive sulphide project in Ecuador containing copper, gold and other metals.

CEO and director Fernando Ganoza said the financing package resulted from a competitive review process that assessed several alternatives aimed at finding the best value for shareholders. He said Atico's decade-long relationship with Trafigura and Trafigura's knowledge of La Plata made the result both competitive and a natural fit.