Atalaya Mining Share Discussion Threads

[husbod] 15/2/2017 16:54

He would have said "Husbod that second etcetera is entirely otiose. In the corner immediately and I do not want to hear you speak for the next three days".

My English teacher was a "Great Man" and inculcated a love of standing in corners that has lasted for all my adult life.

[rougepierre] 15/2/2017 16:54

should all-round be hyphenated...that is the question...?

meanwhile, Buys showing as Sells again...

Leaving aside the two overnight 'straddled' deals (50k Buy; 40k Sell), I estimate total buys today at c34,000 and Sells at c13,000...

[husbod] 15/2/2017 16:49

Not sure my English teacher would have approved of two etceteras erric.

[rougepierre] 15/2/2017 16:45

LME copper stocks have fallen 100,000 tonnes in the last 58 days...now only c248k...

[rougepierre] 15/2/2017 16:33

If you mean me erric, I must sincerely apologise...the spellchecker on my MacBook Pro is doing my head in....

Sorry boss...

Oh and finished on WTI comments...there have been plenty of comparisons with ATYM over on the WTI BB as I'm sure you will have spotted...

[erric] 15/2/2017 16:24

Cosmo, I am really tempted to moderate you again on the grounds of poor grammar, spelling, syntax, all round trendiness etcetera etcetera.

[rougepierre] 15/2/2017 16:16

The C1 costs are an illusion...

The forecast is for the whole of 2016/17 but...

From the June quarter:

"C1 costs for Tschudi for the quarter were US$4,689 per tonne, increasing due to the reduced production and actions taken to manage the groundwater inflow."

And from the September quarter:

"As a result of reduced production, additional costs to deal with the groundwater inflow and adverse exchange rate movements, C1 costs for the quarter increased to US$5,073 per tonne."

But from the December quarter (the groundwater and reduced production problems having been resolved...

"Tschudi production for the quarter was 4,496 tonnes of copper cathode, 5.8% above nameplate, and a record for quarterly production tonnage achieved at Tschudi to date

· With improved production, C1 costs for the quarter have reduced 17% quarter on quarter to US$4,222 per tonne"

And....

"the hedging position we had progressively established to ensure financial stability while getting on top of the groundwater issues mean that the Company is still dependent on support from Orion in the near term..."

So it's eyes wide open and I consider the biggest risk to be Orion converting part of the debt and/or interest payments into equity...

Which is why I have "dipped my toes" and "will buy more if they fall"...

Indeed Finncap has a target of 1.1p based on their forecast from June 2016 when they predicted a 0.32p per share loss for 2016/17...the price of copper is at least 60 cents higher than it was then which, on the unhedged portion, all goes to the bottom line...Finncap's 2017/18 forecast was 0.64p/share which aint bad for a share priced at 0.85p, and...

An average unhedged price of $2.75/lb for a year would produce pre-tax EPS of 2.36p, i.e. a P/E of 0.33...

Untaxing...

Like ATYM it is a pure copper play...I am up to my ears in gold/silver/platinum plays like HOC, FRES, GPM, HOC, SML and AAU which have already more than doubled and sold half...plus GLEN of course which has more than quadrupled...

Anyhow...thank you all for your well-meaning thoughts. I appreciate them, as indeed SBT's on the WTI BB...

Cheers...

[reba] 15/2/2017 13:56

remarkomsoc

Not guilty this time

[cufes2] 15/2/2017 13:33

OT . . . Re WTI this was a big red flag from the last update for me . . .

Weatherly has previously advised that if copper prices remain at current levels it is unlikely that the Company and its subsidiaries will generate sufficient surplus cash to meet all loan repayments when due. This remains the case and the Company continues to positively engage with Orion on the subject.

[acamas] 15/2/2017 12:07

How many more weeks do we expect before judgement is released? Say 4 weeks max? Should we set St Patrick's Day as our long stop?

[head gardener] 15/2/2017 11:54

Cufe, I have traded this share, currently holding to await results from the drillbit, but I am sitting on a profit?

[acamas] 15/2/2017 11:27

Is there also the risk of more shares being issued at some date to raise funds?

[superbobtaylor] 15/2/2017 11:23

RP,

WTI is only for the brave and not my idea of a no brainer.

Some of the Orion loan notes are up this month. I am waiting to see what happens. Last time Orion had to lend them more and did so at great penalty. IIRC 9% interest, $500k arrangement cost and a cheap offtake deal.

[edited as costs are indeed 4200 for Q4]

SBT

[husbod] 15/2/2017 11:20

Just followed rouge's example and topped up knocking the share price up 1p. A case of "where fools rush in"?

[rougepierre] 15/2/2017 11:19

Done the research in depth...I believe the copper hedge unwinds in May...recent costs c$4200...Orion fully supportive...

It's another outright copper play in my diversified portfolio of copper/gold/silver/platinum...

I've dipped my toes and will buy more if they fall...

Meanwhile ATYM tightening since my buyback...just waiting for the Astor judgement then we're off to the races one way or another...

AIMHO as usual...

[acamas] 15/2/2017 11:02

waterloo01,

When I last looked at WTI I think they have a billion shares in issue and cash difficulties, I may be wrong on this as my memory is not as young as it once was. They operate in Namibia, I think. They have two mining areas around Windhoek?

[cufes2] 15/2/2017 11:02

Head gardener . . . I know . . . I was big facetious as some people were not keen . . . I hope you bought and are in profit . . .

[waterloo01] 15/2/2017 10:56

Really. They seem to be heavily in hock to Orion with debt due!

[rougepierre] 15/2/2017 10:47

Just made my first ever purchase of WTI...no-brainer...to go alongside my ATYM...just LURRRVVVEEE copper...!

[head gardener] 15/2/2017 10:46

Cufe, Sula has new highly regarded management and a promising gold prospect,and with drilling underway.

[acamas] 15/2/2017 10:28

If a chartist was looking at our graph I believe he might form the opinion that a confrontation is occurring between buyers and sellers which is forming one of two patterns either a pennant or an upward channel. The flagpole of the pennant is the climb from 80p to 120p and the flag if forming between 120p and 150p. The upward channel is the same 120p to 160p you can draw support and resistance lines between the two prices. Now we wait to see them become bullish, I hope. In either case we do not want a downward breakout which might be problematical

[rougepierre] 15/2/2017 10:14

OK...bought back 2x2500 at 148.07...

[rougepierre] 15/2/2017 09:21

If copper isnt moving the share price up, surely Escondida wont move it down...?

No...this has to be the Astor overhang...markets hate uncertainty...anyhow, looking to buy back the 5k sold at 155...not a bad trading market in ATYM ATMO, despite the wide spread...

GLA...

[shortarm] 15/2/2017 09:02

Surely the two 40k sells (one last week) are Harry selling to find his KEFI input?