The International Speculator, in its Aug. 27, 2020, issue, downgrades
Atico Mining Corp. (recently 57 cents) to "hold" from "buy." The newsletter said buy 10 times between Nov. 8, 2013, and June 24, 2020, at prices ranging from 25 cents to 77 cents. Assuming an investment of $1,000 for each of the 10 buys, the $10,000 holding is worth $12,795. The advice to buy comes without elaboration. The writer explains that investors got a "nice bonus" on Aug. 5 in the form of strong gold drilling results.
The original reason for recommending Atico was its El Roble copper mine in Colombia, but the company is also advancing a gold-sliver project in Ecuador called La Plata.
The headline intercept was 6.8 metres grading 19.5 grams per tonne gold and 224 g/t silver (along with 12.2 per cent copper and 3.7 per cent zinc). He says that this high-grade hit shows good potential to expand the existing La Plata mineral resource.
Atico is continuing drilling here, ahead of updating the resource calculation and moving toward mine planning. The writer dangles the possibility of more good drill holes over the coming weeks.
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