19 April 2023

 

Manila, Philippines

 

 

 

Atlas Consolidated Mining and Development Corporation ("Atlas Mining") completed the first quarter of the year 2023 with a reported net income of Php264 million from Php1.22 billion for same period in 2022. The lower income was mainly due to lower grade and milling tonnage as well as a non-recurring non cash gain booked in 2022 by its wholly owned subsidiary, Carmen Copper Corporation ("CCC").

 

Copper metal price stood at $4.05/pound, lower by 11% from the last year of $4.56/pound but gold price increased from USD 1,85/ounce to USD 1,890/ounce in the first quarted of 2023.