Have bought the dip
DYOR |
Exchange rates had a lot to do with it |
Hugely disappointed at the webinar. Took written questions- the majority of which related to ELIX, Solar and Touro and many of which were duplicated- then, when asked in one question why profit this quarter was so low said effectively I don't know, I'd have to check but maybe it was against a strong comparator! |
InvestorMeetCompany starts at 11am, let's see what's behind the huge drop of profit, while most numbers similar to last years. |
Any chance of the Canaccord note please? Thanks and np if not. |
The more I read the RNS 'Atalaya Mining PLC is pleased to announce......'And then produce a near 90% drop in quarterly profit.....The more I'm thinking ( hoping) that someone has fat fingers and we're going to see a corrected version!Taken a small spread bet out in the hope I'm right |
Canaccord reduce forecast Ebitda by 25% for 2024 and by similar for 2025. |
Really need to listen to the seminar for an explanation of these resultsCompared to last year's similar quarter revenues up 1.5%Operating costs up 5%EBITDA down 11%Profit for the period down 86%I get that we're using cash for capex purposes but cash flows for operating activities actually reduced by 22% in this quarter compared to Q3 2023 |
Presume that no news means that they haven't been impacted by the terrible floods tat parts of Spain have seen. |
Permission now granted for partial switch on of Solar farm. |
https://www.diariodesevilla.es/economia/luz-verde-atalaya-mining-explote_0_2002674222.amp.htmlDidn't quite appreciate we were waiting for govt approval to switch on the Solar farm (although only seems to be a partial switch on) |
AtYM share price Gains since late July taken out in 2 days (with maybe a bigger drop to come). The long term picture for this company is very positive but progress is just a bit slow in 2024. The 2024 highlight for me is that Touro has been granted strategic status. Hopefully momentum can build now towards a better 2025 and copper prices will remain supportive. AIMHO! |
Yes 1st time in awhile they have suggested bottom end of guidance. Next Q will depend on grades going forward. |
Good spot and indeed. Hopefully a small bump in the road, copper price holding up well, but ATYM need to deliver meaningful updates not cut & paste on things like Touro etc. DYOR |
Previously ATYM had a reputation of under promising and over delivering - need to get back to those times!! |
In fact the grade was below the annual guidance range. |
The slightly frustrating thing was in the update on 14th August H1 results they said 'Copper production of 11.6 kt in Q2 2024 and 22.2 kt in H1 2024, with increased grades and strong plant performance expected in H2 2024'. Not sure I would say the Q3 results were very strong or that the grade was increased? |
yes, bit of a non update, but market seems to dislike the low end of production etc....
ultimately need some faster movement on all the new projects that will boost production while lowering costs so valuations can be assumed for the future....
DYOR |
Interesting that drilling has started at Touro. "The Company has also initiated a step-out drilling programme focused on areas where mineralisation remains open" |
Q3 Update out. Nothing particularly to shout about. Annual production will be at low end of guidance. Costs said to be in line with guidance. Copper price average 4.13. Grade was on the low side as was copper recovery. Elix still stuck in commissioning and Solar plant to be switched on in a couple of weeks. I'm sure progress is being made but no specific landmarks to declare. Public information period for Touro starts shortly. |
I agree Robm-good news with the update could result in a decent re rating ahead of a takeover at some future point |
Thanks mip.
You confirm the comments made last month from the CFO of Adriatic Metals when he said that the metal market is very tight and that "this is the best time to be selling Zinc/Lead concentrates in the history of Zinc/Lead concentrates".
His statement that Zinc treatment charges have come down from $240/tonne to NEGATIVE $40/tonne was astonishing!
OK, he wasn't talking about copper but the tightness seems to stretch across the board. |
Silver lining if we find ELIX is delayed: Thanks to over investment in smelters, particularly in China, smelter owners are scrabbling for ore and their margins are actually turning negative. Annual round of price negotiations is being undertaken at the moment but last year's benchmark of $80 / ton of ore ( 8c / pound) is likely to be in the region of $ 20-40 / ton ! Europes largest copper smelting group's CEO stated that they'd have to live with these lower TC/RCs for the coming year.So... we can look forward to reducing processing costs in the short term but ELIX (for the next year) will not have the impact perhaps it might have had |
Q3 ops update for ATYM on 14 Oct. Let's hope for some good progress on the variety of initiatives the company is undertaking. |
Evening all, i've tried to hold back from posting, too much excitement at seeing my thoughts around rate cuts, $ weakness coming home to roost.....chinese stimulus has also helped as Goldmans had about 3 weeks ago cut its forecasts on copper as we know DUE to china, so maybe that was premature.......Chinese stimulus and economy is quite key, although the need for copper in AI/electricifcation also going to drive demand when supply is still IMO in deficit...
DYOR and roll on a fiver and more for ATYM.... |
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