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Atlas Mining reported Php264 million Net Income in Q1 2023

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.
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