Share Name Share Symbol Market Type Share ISIN Share Description
Atalaya Mining LSE:ATYM London Ordinary Share CY0106002112 ORD 7.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50p -1.27% 116.50p 115.00p 118.00p 118.00p 116.50p 118.00p 17,770 15:51:42
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 83.8 -0.1 8.8 12.9 135.93

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Date Time Title Posts
24/6/201709:26Atalaya BB without the idiots7,525
23/6/201713:40Atalaya Mining - Debt free Spanish Copper producer30
22/11/201618:54ATALAYA MINING - Spanish Copper (ex EMED)2,383
09/3/201618:50Atalaya Mining - Debt free Spanish Copper producer961
17/2/201614:09Copper-bottomed Dream7

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Atalaya Mining Daily Update: Atalaya Mining is listed in the Mining sector of the London Stock Exchange with ticker ATYM. The last closing price for Atalaya Mining was 118p.
Atalaya Mining has a 4 week average price of 117p and a 12 week average price of 117p.
The 1 year high share price is 166p while the 1 year low share price is currently 76p.
There are currently 116,679,555 shares in issue and the average daily traded volume is 13,270 shares. The market capitalisation of Atalaya Mining is £135,931,681.58.
laurence llewelyn binliner: #HG, the BOD and management are of course interested in the share price, they are mostly shareholders after all.., but their job and primary concern is the building and expansion of the company, and in turn driving profits, some of which will ultimately be distributed back the shareholders through dividends, this is exactly what they are doing, and we've also been told how they plan to do it.. The BOD and management do not directly control the share price, the market does, and currently the shorts/sellers are driving it down.., most likely a fund with plenty of shares, but this strategy will hit its target and the share price will change direction when they buy in again, we just don't know what their target numbers are yet.. We have only recently raised and spent £150M to build the mine/plant, clearly with the market Cap lower than this it is undervaluing the company, and this doesn't include the 43-101 $445 NPV, nothing for the PRT expansion, and nothing for Touro.. As PI shareholders, we are but passengers, and just have to ride it out let it unfold, the tide will turn, the only unknown is when..!
rougepierre: Hi SBT and others...please read the following carefully... I've read every one of small holding's recent posts and also gone back and re-read every detail of the Q1 Results RNS. Apart from disgracefully failing to RNS the Astor Appeal for a month after it was lodged on 25 April 2017, there are some very revealing facts in the Accounts. Collectively these lead me to the conclusion that small holding is right that no payments will be made to Astor during 2017; further that this is a clever plan by ATYM almost certainly orchestrated with Indeed, given that the Company expects the Appeal to be resolved by the end of Q3 2017, this leads me to be certain that the plan is not to create a precedent by starting payments; and 'squeezing' Astor up to and beyond the Appeal. Furthermore, if profits are being restrained until after the Appeal, then ATYM will have the potential for a Bumper Q4 profit and cashflow to announce, either to soften the final Astor blow or, if the judgement is favourable, to give a double whammy boost to the share price .. 1 SH suggests that the Inventory is being deliberately built up and that may continue for the rest of the year. I concur completely and would go further, suggesting that production is being held back, for two reasons: First, I agree with SH's suggestion that this is a means to keep profits and thereby available cashflow down, so that Astor payments are not triggered. Second, on all reasonable expectations (and especially the Board of ATYM), copper prices should be significantly higher in a year's time. If copper trends higher during 2017 then we will be selling the accumulated inventory at a higher price than now and thereby making more profit. I believe the Board took a view on what sort of profit figure was acceptable for Q1 and left the rump in inventory. Remember, the Accounting Principle is that stock is valued at "the lower of cost or net realisable value"...i.e. in this case, cost. That leaves all the profit for the future. This also may explain the puzzlement about why the AISC isn't dropping. So...Cash cost is 1.83 (which means inventory value is low) and AISC is 2.15 (although it is STILL projected to drop to $2.00/2.10 in FY 2017...) So...profit is not accounted for until Inventory is sold; but the balance of AISC (i.e. $0.32) is accounted for as incurred, i.e. right now... So that's the first part of the ATYM Plan: keep profits reasonable, but defer as much as possible by means of building up Inventory, so as not to trigger Astor. But it goes much deeper than that... just read this core element of the Judgement carefully... "the Judgment requires that, in accordance with the Master Agreement, ARM must apply any excess cash (after payment of operating expenses, sustaining capital expenditure, any senior debt service requirements and up to US$10 million (for non-Proyecto Riotinto related expenses))" So there we have the incentive to make the Sustaining Expenditure as high as is reasonable until the Appeal is decided... There are no "senior debt service requirements", BUT.... ATYM is allowed to pay "operating expenses" before the Astor payments are triggered... And guess what...small holding has quite rightly identified that there is a "Working Capital deficit", but he has missed a very much important point... Trade Payables have been built up to a very high level... Operating Costs in Q1 were 11.498 million Euros, but only 7.15 million Euros were actually paid during the Quarter, leaving an outstanding balance of 61.716 million Euros, up from 49.309 million in Q4!!!! Now we have previously assumed that ATYM was using its Trade Creditors to finance the mine and working capital, but there were net Cash INFLOWS of 8.876 million Euros during the period and the Outstanding Cash Balance at the period end was 10.011m, up from 1.135m.... summary, it looks like ATYM has, with the support of all its major shareholders who have off take agreements, deliberately kept 19.434 million Euros of stockpiled copper (up from 6.195m!!) so as to defer profit and net cashflows... With the agreement of its Trade Creditors, deliberately held back payment they could have made, so that Trade Payables could easily exceed net cashflows for the whole of 2017 and beyond, entirely at the Company's discretion... Maximised Sustaining Costs to the highest legitimate level (maybe by front end loading), to keep profits down (but not cashflow, because most are not a cashflow item) And all of the above is legal and legitimate! And if you want the final kicker...while ATYM cannot repay any formal borrowings out of spare cash (they don't have any, anyhow), they can allow a build up of Trade DEBTORS, to keep available cash down...and guess what? Trafigura owes ATYM 4.139 million Euros... And indeed there seems to be nothing that I can see preventing ATYM from allowing Traf to build up this Trade Debtor, nor indeed asking Traf to make 'agency' payments on its behalf, e.g. progress payments for the Touro project... So all in all, this looks like a VERY SMART strategy by the Board and Management of ATYM (no doubt orchestrated by Traf), with just one catch... If it is Trafigura manipulating the share price to keep it down, with a view to a Bid, the reported underperformance would hold back the growth of the share price also and, supposing Traf made their bid after the settlement of the Astor Appeal, they would be getting all the held-up, accumulated value from the build-up of Inventory and the inflation of sustaining costs, and nobody would be the wiser.... And who's on the ATYM Board? The M&A Director of Trafigura.... AIMHO as usual and all observations welcome as usual...(not on the 'conspiracy theory CuFe...we've doe that one to death...)
acamas: LLB, We have always to my knowledge been undervalued. HAA was tub thumping this 10 years ago. However clearing all the potential booby traps out of our path the share price sits currently at 3p/4p old money. When one considers it was once at 20p old money or £6 by todays Then 128p looks like the bargain of the year or the dogs dinner. Without liquidity in The Market for this share I cannot see anyone rushing to purchase until Astor is out of the way and Tuoro is profitable in its own rights. Even then if our 4 major share holders stay united I do not see how an outside party can get a piece of the action. That is the chief reason for my departing the scene. There are two elements here The Company and The Share Price. Whilst The Company is good for the II. The share price is suffering a malaise. I fail to see harmony between The Company which has momentum and the share price which does not Please challenge my thoughts
acamas: MDS, Because they are good production managers but when it come to Marketing they could not sell an igloo to an Eskimo but why should they when all the igloos they can make are destined for other places. They do not have to market their produce and do not seem bothered by the share price peformance because they have no debt so no Bankers chasing them to do something about the image of the company via the share price performance. That is my pitch on it and please shoot holes in it to offer up better share price performance during the remainder of 2017. Like seeing the share price double! Regards Acamas
saintb: But how do Market Makers work exactly? A: Note what follows is unofficial but it comes from an informed source -: To lubricate their transactions, market makers need a supply, or inventory of the securities they support. This can either be real certificates, or via a process called 'stock lending' (don't worry about THAT one yet - it basically means they borrow stock or "pretend" they have it). Once you have an inventory of stock, and the concept of 'spread' (or 'edge'), a marvelous opportunity opens up. The average price at which a market maker accumulates a security and the average price at which he distributes it are going to be different. Add this to the fact that the market maker sets the price tick by tick, and boom! A license to print money. Observe closely, this is a good trick. I, as a market maker, decide (for no real reason, or perhaps because there has been some trivial news about them) that stock in ABC Corp is my plaything today. I don't have much of an inventory in that particular security, so what do I do? Mark up the price so external holders will sell me some? No. I mark the price DOWN. Oof. Some external parties see this as a buying opportunity, and as I am a market maker, I am obliged to sell them the security at the new, lower price, meaning I am even shorter on that security. Sounds mad, doesn't it? But it doesn't matter, because I mark the price down again. And again. And I keep on doing it till I hit the stops of external parties who are long, but weak, or the limit orders of people who are short. As a market maker, I know where these stops and limits are. I own the book, after all. Ordinary Joe Public mostly think the market follows the laws of supply and demand, follows trend lines or fibs etc, which means they all tend to put their stops in similar places ('resistance' anyone? 'support'? That's right, it exists!). This is a game of chicken, really, and YOU will ALWAYS crack before ME (the market maker), because I can take the market to zero, or to the moon. You have to meet a margin call. So now I am a market maker who has a LOT of supply of ABC Corp, which has fallen significantly in price. Looks like I'm holding a plum, doesn't it? What do I do next? That's right. I mark the price up. And I QUICKLY mark it up to the point at which the current price is ABOVE my average purchase price. So voila. I'm in profit. In a fairly big way. All I need to do now is unload this stock to you over a period of time at a price above my average, and I am rich. You, of course, sold it to me on the way down, and are regretting it because it is probably already way above where you exited (strange isn't it, how the market seems to 'hunt your stops', and then reverse?!) If I do this right (and it is an art form, for which successful brokers get paid multi-million dollar salaries), I create the illusion that the market is totally random, and is being driven by YOU, whereas I am simply a fee paid middleman, facilitating your activities. Even worse, I give you the vague impression that you are actually pretty good at it, and if you can only get your stops a little more accurate, you will stop losing money! As I mark the price up, external parties start to worry they will miss out on this growth, and begin an ABC Corp buying frenzy, allowing me to unload. Everyone is happy. Most of the investing public are sitting on unrealised (imaginary) assets, while I am converting worthless shares into hard cash. So, I have made a real, cash profit. You are sitting on an unrealised paper profit. We are all happy. Until I repeat the process and stop you out. Again. Are you getting the picture yet? In fact, once I have built a little momentum in a particular direction (long OR short) I can let you prolong it, settling simply for my spread profit. I know that eventually the run will peter out, and then I can force it the other way, easily dislodging those who took a position too near the end of that particular phase. Let me paraphrase. When the market is zooming up madly, market makers are actually selling (usually stock they don't own!) in preparation for a subsequent managed fall, during which they can buy it back for less (i.e. make a profit). When it is crashing down, they are actually acquiring stock, in preparation for the process of selling it back to you at a higher price (i.e. make another profit). Note: Market Makers can be quite devious. I held FEP some time ago and one day the shares started moving up, for no apparent reason. News was due but nothing was reported so investors assumed that perhaps it has leaked. A buying frenzy started, the shares moved ahead by 30%, but in a very short time the share price plummeted and was back to where it opened. I spoke to FEP about this action and was told that one of the market makers had a line of stock to clear. They raised the price to attract buyers, once the line was cleared they dropped it before most buyers could start taking profits. Only very few lucky and fast traders made anything that day, all other buyers paid over the odds for stock they either had to sell at a loss or were locked in to. That's one of the reasons I personally tend to be wary of stocks which are just MM controlled, preferring SETS or SETS/MM stocks, where I can see the order book (unless I'm very confident of a company's fundamentals). That said, I do sometimes hold market maker stocks.. Not my words of course. SaintB
rougepierre: In the meantime, Mr 5,000 is undoubtedly manipulating this share price...for whatever reason.... Not only does he constantly sell at, or below the Bid, despite often being able to get better terms (e.g. by selling 2500 lots), but also he keeps varying the time, selling one lot every morning... There is no other strategy possible, other than to keep the share price down, because he could have sold far more at a much higher price when the market was bidding for 50,000 shares or more, ABOVE the Bid... My suspicions are that this is either a MM putting through artificial transactions or a 'friend' of TRAF keeping the price down for a Bid, or Astor through simple maliciousness... These 5k transactions are being done when the market is weaker or when it is quiet... Without them I have no doubt the share price would be very much higher... Ted, Scargs or somebody, could you contact the company and let them know what is happening, because they have access to their own Share Register (although I have no doubt these will be Nominee transactions, but even that would help the company and us to find out who is deliberately holding this share back...) AIMHO as usual...
laurence llewelyn binliner: There is a disconnect between the share price and fair value for sure Erric.., I'm just adding each year, it's always been a 10 year project here for me from 2010's ISA day.. Demonstrating we are a profit centre through results will help put us on the map for sure, will it set light to the share price .? I doubt it, but each quarter we are adding value now, and will be reducing our debt to Astor, it might take another year or 2, but sooner or later fair value will align with the share price . The share price is driven by buyers vs sellers, the company gets on with the job of adding value, and 1 day this gets noticed, from what I see, this is exactly what they are doing.., and doing a cracking job of it too.. 80% of Touro is the next pipeline project, 3-4 years out from here the Astor debt will be gone, and we could pretty much fund Touro out of cash @ the current Copper price, with $3.00 Copper it's done..! Many LTH's have been here as long or longer than I have from 2010, and it's been a very painful journey, but the fact is, the real journey into prosperity only began Jan '17 from full production capacity.. Q1 2017 run rate/tonnages/concentrate % / recovery rate/plant efficiency data mid April FY 2016 financials mid April Q1 2017 financials mid May.. all 3 perfectly timed for ISA bargains tomorrow..!
reba: Acamas I wish I had your optimism on this share. For years ATYM's share price has been restricted in some form or another, and any good news from the company seems to have a very negative affect on the share price No-one in the major investment company sector is interested in ATYM as 75% of the shares are held by the 3/4 main owners, leaving a minimal amount left for the private investors. This last move might be good for the future in building a solid company but to me doing it at this time, after all we have been through in getting our own permits, leaves alot to be desired. I personally think they should have waited until the Astor court outcome was declared, pay off as much as they could with the cash we are supposedly making, and get us completely debt free. We also have at the moment no tax to pay for 1/2 years, so we could have built a nice nest egg and paid a divi which would have attracted large investment companies. How long is it going to take for the permits to come through and production to start in the recent acquisition, before we get any return.? just my thought on why the share price is not increasing to where it should be.
reba: Now Now Rouge we can't have you getting depressed like me. How was your holiday in the States.? You'd have thought with Kefi going plus it would have had some affect on the atym share price, but no such luck.
acamas: reba, The only reason I disagree with you is that currently the big 3 have all paid way above the current value of the ATYM share price for the shares they now own in The Company. I cannot come to terms with them doing this without getting back their original investment and the profit from the resource mined One of us will be proved correct not sure who right now
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