Atalaya Mining Share Discussion Threads

[waterloo01] 06/3/2017 16:57

reba, know what you mean, lucky chap.

IMO we'll be clear of Astor by this time next year, so they can pay dividends then (and increasing ones as Touro comes online). Regardless, and while I too want dividends, I;ll accept capital appreciation in the meantime.

Rouge, very possible as a route forward, however at some point we'll need to pay them off and in some ways, the sooner the better as it puts us back in full control.

[rougepierre] 06/3/2017 16:52

So what price would make you happy reba...

The NPV of this company at $2.75/lb is 370p...add an estimated 250p for Touro...

What makes you say it's all in the price...

I think you might be pleasantly surprised late March, let alone late April...

[rougepierre] 06/3/2017 16:50

Excellent waterloo...

Just one point...

I've reread the Master Agreement and the RNS and the prohibition seems to be on the subsidiary (Atalya Minera...) paying a distribution or repaying debt to the parent...

The smart thing is to have Touro in a separate subsidiary because I can't see anything preventing that company or the parent from raising debt to fund Touro, against the security of the consolidated Group assets...

What do you think...?

[waterloo01] 06/3/2017 16:37

reba, sounds like what you really need is a 'nubile friend'!

Re the SP, I suspect we have traders selling on the news. Most shares seem to be in fairly long term hands and we remain significantly undervalued on almost any comparative metric. Any larger buyer, will have to accept they will need to push the share price higher, if they want to tease out enough shares.

The judgement removes some uncertainty and puts the payment schedule back in our hands, without penalty and certainly with no damages. Hopefully once the dust settles, the two sides will sit and deal so that Astor get some clarity on a payment schedule and we get revised terms.

If not, then when we raise the funds for Touro (early 2018?), we'll need to raise a further 50m and get them off our back at the same time. At this point, I'd suggest we could do it all with senior debt, if desirable, as we will be a virtual cash machine and a very safe lend.

Edit: for those that don't have a copy of the judgement, it's worth a read. One thing it does show, is that at different points Orion ($160m)and separately Traf ($150m) plus a consortium of banks were willing to lend us the money to get PRT up and running (they just refused to have the raised funds used to pay off Astor). So we have lot's of options going forward.

Alberto came out of this all really well and the judge was obviously impressed.

Cheers

[come on] 06/3/2017 16:31

It's always something with this share, well that's hopefully out the way, now for the steady rise to where we should be

[rougepierre] 06/3/2017 16:28

I cycle 2 miles on a static bike 3 times a week at 13 mph...my heartbeat goes up to 105 from a resting 70...

Meanwhile, a very satisfactory day...holding my optimum level for the Q4 update in March and then the results on 24 April...

Astor is just a practicality now...no news overhang...just good or even great news to come...

Has anyone noticed that our price graph in the header almost exactly matches the copper price graph today...?

Why is copper still so low...Goldman Sachs shorting...?

GLA

[laurence llewelyn binliner] 06/3/2017 16:24

As a lot of us expected, the news didn't really have much of an impact on the share price ., it's all about demonstrating profits now..!

4 weeks to end of Q1-2017, and the 1st Q we are rolling at 10MTPA+.. :o)
FY2016 financials, and Q1-2017 tonnage numbers expected mid April..

[acamas] 06/3/2017 16:24

Reba,

I did today 1322 metres in 8 minutes forgot to look at the level I was on. Good for you doing 10 times the normal Olympic distance

[reba] 06/3/2017 16:21

Down to within 4p from where we started from this morning
After all the good news

[reba] 06/3/2017 16:19

Acamas

I row 20,000 meters every other day and it takes me 1hr 28 mins. try it
I then jump on the exercise bike and do 15 miles.Then sit ups etc on a u tube
Then arm weights
and finish on various exercises with a stretch rope
Have a small gym at home

[manfrom] 06/3/2017 16:13

A lot of sellers today?

[acamas] 06/3/2017 16:12

I'm in my seventies and have just returned from the gym. I am on a HITT program and I can assure everyone that 8 minutes on the rowing machine has my heart almost popping out of my chest. My target is to build up to 10 minutes on this machine. My program over all is not of a long duration but boy is it intense. The exercises include the punch bag, step ups with a medicine ball, pull downs, shoulder press, chins, free weights and bikes. That lot comes to approx 1 hour and I feel exhausted. So I go down to The Spa for a 90 minute recuperation

[estienne] 06/3/2017 16:04

That's what I like to hear, there's always tomorrow

[reba] 06/3/2017 16:00

SuperBobTaylor

It's true, just like ATYM is going to reach £2

[superbobtaylor] 06/3/2017 15:53

Ha ha reba you crack me up.....

SBT

[rougepierre] 06/3/2017 15:33

Blow me if we haven't just been on Bloomberg TV...

"Atalya Mining soars after Astor judgement...."

"Shares were up to 8% higher..."

Maybe our Coms people are doing a great job after all...

That'll certainly bring us to the attention of a wider audience...

[reba] 06/3/2017 15:28

SuperBobTaylor

Not bad for a 72 year old. Exercise every other day for at least 2.5/3 hrs
Had triple heart bye-pass 15 years ago. never looked back.

[rougepierre] 06/3/2017 14:58

Oh and SaintB...sound post...can't fault it...

Onwards and upwards...

[rougepierre] 06/3/2017 14:57

Taken some profits off the table for the last week or so...

Reinvested in doubling 88E, GENL, KEFI and SML...

GLA

[superbobtaylor] 06/3/2017 14:53

That is pretty good Reba. You must be super fit or some kind of zen master. 5 x Tour De France winner Miguel Indurain only got as low as 28bpm. (and he had quite a lot of, errmm, shall we say 'medical help')

SBT

[reba] 06/3/2017 14:48

Husbod
Blood pressure perfect. Resting pulse I can get down to 33/35 bpm

6p and we are back where we started this morning
It's going no-where especially not £2-00, Dream on.

It's still along way off what I paid for initially.

[erric] 06/3/2017 14:30

Who will be the first LTH to say they are glad that a lot of "short-termist" PI's have baled out today, leaving just us solid ones.

If I allowed stockready back in to the discussion, that's exactly what he would say.

[husbod] 06/3/2017 14:22

I'm not going to ask reba how his blood pressure is watching the 11p rise dwindling to 5p.

At least THR is up 40% today (still not near what I paid for it years ago - it's ATYM's distant Oz cousin from my point of view).

If we appeal on the side issue of the excess cash I wonder whether Astor would be tempted to cross-appeal on the main issue. They don't seem to have any case but who knows.

Now we've got a tight spread.... grrrrrrrrrrrrrrrrrrrrrrrr

[saintb] 06/3/2017 14:17

Pleased to see the judgement went as I expected ,but the 10 million figure seems low to me. As we are expecting to make around 50 million profit this year I would be interested in what terms are put in place to regulate the speed at which the debt is repaid, particularly as we need plenty of cash to develop the Touro mine (200 million?). More detail to come no doubt including a possible appeal.

Also, as I anticipated, the share price has not moved, particularly as I feel it was artificially lowered before the judgement,off-setting any gain seen today.. We must now wait until some profit figures are released, so some weeks to go before any serious change IMO.

What of the future then. I have been considering the arguments put forward concerning moving out of AIM and the scenario I now see is this:

Due to the way the company is set up and because I do not think any of our major investors now have predatory intentions, the chances of the company going private are small IMO, but it is what I would describe as a "Closed Shop".

Joining the FTSE350 would be a necessary move if we needed to raise money for cash flow or expansion, but we don`t. AL has got enough to keep him and his team busy for the next 3 to 4 years, what with Touro and further expansion of PRT and we should (serious production/ copper price issues apart)be able to fund any requirements from cash flow over this period of time.

The Astor repayment will be an integral part of this but if extra cash is required it could be raised by way of loans from the big 4 against future off-take. The eventual Touro/PRT production has got to be sold to someone, why not our major investors?

Although the Astor Judgement seems to throw some doubt about paying dividends for the time being at least our major investors and us PI`s, could see our NAV/SP increase over time as profits build up and it would limit the need to issue further shares thus avoiding any dilution of current holdings.

I am sure there are other angles I have possibly missed and as I said earlier it is a "Closed Shop" so they can do anything they want but, until I see some game changing profit figures the above thoughts will keep me amused.