A sharp rise in metal prices helped reverse last year’s losses, but debt, mine spending and a thin liquidity cushion make a near-term dividend far from certain Atlas Consolidated Mining and Development Corp. has completed a striking earnings turnaround. The question for shareholders is when—or whether—that improvement will reach them in cash. The Philippine copper producer reported net income of ₱4.62 billion for the first half of 2026 , reversing a ₱653 million loss in the same period last year. Net revenue climbed 68% to ₱13.72 billion , while income from operations swung to ₱4.77 billion from a ₱454 million loss. The reversal was powered principally by copper. Atlas said its average realized copper price rose to $5.97 a pound during the second quarter , 38% above the $4.32 recorded a year earlier. Gold, a valuable credit contained in the company’s copper concentrate, also provided support: average gold prices increased to $4,622 an ounce from $3,112 . Higher pric...