Company: JUPGF
Filing Date: 2025-11-12
Form Type: F-1/A
Source: 0001493152-25-021911
Chunk: 124

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-11-12
Form: F-1/A
Chunk 124
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 the field studies needed to file our petition to the applicable regulatory body for an operational license. The filing of such a permit occurred in August 2021. On April 4, 2022, our Quartzite Project received the necessary permit from the Brazilian mining department (“ANM”). On December 12, 2022, our Quartzite Project received the operational license from the state of Minas Gerais environmental department (“SUPRAM”). These approvals from ANM and SUPRAM have allowed the Quartzite Project to begin its operations and to be able to commercialize production.

Preparation of the site for operations of the Quarry began in June 2023. The first quartzite block was retrieved on August 31, 2023. For the period between September 1, 2023, and December 31, 2023, a mining trial period, the Quarry team was comprised of one manager, one supervisor, and five mine workers. The processing was done by cutting the blocks with diamond wire. The blocks produced had dimensions varying between 6 m 3and 12 m 3.

For the trial mining period between August 31, 2023, and December 31, 2023, a total of 223.10 cubic meters (m 3) of quartzite blocks were produced and 80.82 m 3were sold to independent third parties from Brazil and Italy for an aggregate total revenue of $ 107,540.81.

The net results of the trial mining were fully charged to the profit and loss of the period.

In 2024, our quartzite operation generated gross revenues of $748,654 and gross margins of $265,694 or 35.49%. During 2024, our quartzite operation produced 610.09 cubic meters (m 3) of quartzite blocks and 1,384.92 square meters (m 2) of polished quartzite slabs, of which 946.49 m 2were from our own blocks and 438.43 m 2were from acquired third-party blocks destined only for slab production. During 2024, we sold 550.92 m 3of blocks and 893.63 m 2of polished slabs. As of December 31, 2024, our inventory was 147.99 m 3of blocks and 641.12 m 2of slabs.

Although we are currently generating revenues from our quartzite operations, our production of unprocessed blocks of quartzite and