Atalaya Mining Share Discussion Threads

[charlieeee] 05/9/2016 10:18

It looks to be a sizable portion of the increased capacity, applying the current copper in concentrate %. Have the big 3 assigned in proportion and have they received any payment (for that which they had for free in the last round)?

It presumably does not further compromise the Astor situation, other than being another deal on which they could demand commission?

Previously, our debtor has been Trafigura, who have paid on time and now we have external risk (albeit with someone who has cash or can themselves borrow cheaply.

The positive side is that it should go some way to addressing the negative net current liabilities situation.

The market is clearly more interested in either the balance of the solution or profit per LB and details of increased capacity have not been greeted with euphoria. Quite a disappointing response, really.

C

[bigbaddaz] 05/9/2016 10:16

I am particularly impressed with the additional production news attached to the RNS.

The company was under no obligation to share that information in this RNS.

I may not have the time today to try to calculate how the production figures attached translate to how close we potentially are to BE / Profit, but i very pleased the company have realised that Information.

[spcecks] 05/9/2016 09:54

Agree excellent deal.

[superbobtaylor] 05/9/2016 09:50

Excellent deal. Loan at near 0% interest. Far better than dilution at current share price or the crippling high interest loans that most AIM companies have to make do with.

Transamine and Traf are not the same company.

SBT

[mds2028] 05/9/2016 09:45

yes Waterloo that's the bit I don't get why have the big three agreed to this, what's in it for them?

[mronions] 05/9/2016 09:43

happy days

[mds2028] 05/9/2016 09:35

so if this is our share holders off takes, then this money is being leant to us through a convalouted route by our own share holders???

Is this rediculaously confusing rouute of our share holders lending us their money so as not to bring in teh Astor question.

Having now read the RNS numerous times, I think this looks like our big three lending us money indirectly but having the legal cover in that they are not technically so as to risk the Astor court case????

I must admit the more I think about this the more confused I am becoming!

So we are being leant money for an off take obligation that actually has nothing to do with us as this agreement is between the big three and Transamine, as it is actually their off takes they are re assigning. This agreement is surely is between them and this is just a loan from Transamine to us?

Very very confused! as Lango said this is not clear and so therefore is underhand and smells bad, so Traf must have something to do with any deal that is fundamentally 'Arthur Dayley'

[waterloo01] 05/9/2016 09:31

If Traf et all have forward sold some of the off-take at a higher CU price, off-loading some forward purchases would give them a profit?

[mds2028] 05/9/2016 09:25

sorry CUfe just found it doh was there all along!

yes now that is odd and why???

[waterloo01] 05/9/2016 09:25

Better go to spec savers.

[mds2028] 05/9/2016 09:23

cufe
a little confused you say quote "Transamine, an independent and privately owned commodity trading company headquartered in Geneva, has been assigned part of the offtake agreements from existing offtakers."

can't find that in the RNS???
The RNS reads to me that this is '60,000 Dry Metric Tonnes ("DMTs") per annum of copper concentrate' of separate product and separate agreement to teh already agreed off takes and not part of our Shareholders agreed off takes.

Where do you find this information that allows you to negative spin a situation where our dept issue at long last is clarified?

At last some good news!!
nearly a well worded RNS (not that it is) but we have progress, have the got rid of C4?

[rougepierre] 05/9/2016 08:43

That scotches the insolvency debate...offer only 1p below my overall average...looking forward to the results...

BTW CuFe...you may not have noticed that ALL successful miners have debt...with interest rates the lowest in history its a smart play...and our short term requirements have enabled the ramp up to 9.5m tonnes much earlier than expected...

The biggest miner in the FTSE (GLEN) had $20 million debt...have they got it wrong too...? They dont borrow from their major shareholders...

[langostino] 05/9/2016 08:42

Trafigura's hands all over this one!

[cufes2] 05/9/2016 07:12

Hmmm . . . I wonder why existing investors wouldn't provide the funding rather than give up part of their offtakes . . .

"Transamine, an independent and privately owned commodity trading company headquartered in Geneva, has been assigned part of the offtake agreements from existing offtakers."

[laurence llewelyn binliner] 05/9/2016 07:12

A cash up front prepayment CuFeS2, at next to zip interest..., at market copper and silver prices.., another step forward, and we were running at 8.3MTPA in August.., good news I would say...!

[cufes2] 05/9/2016 07:06

Oh look . . . there was a shortfall in working capital and they have taken a loan out . . . who would have thought it . . . at least it's sorted out now . . .

Edit . . . re-reading the RNS then EMED may be going back for more funds . . .

[rich1e] 04/9/2016 15:02

Be it out of habit or not. If the company, that had acquired the controlling landholding, hadn’t been so dogged in meeting the ever changing administrative requirements, you might not be holding any shares now.

[langostino] 04/9/2016 14:44

I still hold a few of these but only because it has become a habit. It was clear to me that the Junta wanted the old Riotinto mine to be reopened but that the company that had somehow managed to acquire a controlling landholding was clearly incompetent to handle the administrative procedures required. I therefore assumed that via some kind of corporate event, professionals would come in at which point an investment gain would result. My money was always on Trafigura. In a way all that has happened but in such a convoluted manner that no benefits have have been reflected in the share price It has been a three card trick and we are the marks. I would be very surprised if any posters here leave with a profit and would suggest that holders such as rp, who prefer to block out negative comments and to only hear confirming positives, would be better served keeping their money in the biscuit tin.

ps. The purpose of life is to live it

[bigbaddaz] 04/9/2016 14:11

For me, I find it useful to remind myself of something I was told many years ago :

'It's ok to lose money, just never run out !'

[cufes2] 04/9/2016 13:56

Not at all . . . I have taken big hits along the way on a few stocks . . . Hence, why I am so cynical of management and some posters on the BBs . . . And I'm quite happy to sell at a loss knowing there are always opportunities elsewhere over time . . .

[centipede] 04/9/2016 13:52

Fair enough !

They do say that some of the highest performing stock broking accounts are owned by dead people, and that the most active traders rarely survive a year. But, I have yet to sell a single Emed/Atalaya and have suffered an overall loss here of 84%.

With this company, your stance has been borne out by events, so you are evidently better at this than me.

[centipede] 04/9/2016 12:05

Yup, definitely agree with that.
I suppose however I would qualify it a bit - we come about by chance, but given the setup of the universe, it is/was also inevitable that intelligent, life would evolve, with a propensity for gambling/investing.
For me, our 'purpose' is simply to do what we do, with progression towards greater sophistication and complexity (make more stuff, open mines etc).
Given all of this, I am a long term (10 yrs so far) investor in Atalaya. I remain fully invested, despite losing a lot of money. Some you win (and I have won elsewhere, and on balance win overall), some you lose.
Seeems to me that with an unknowable situation (e.g. when/if the price of Cu rises, what will happen about Astor, what will Trafigura do, and many other stuff ?), the best bet with such an early producer is to see things through.
I remain a holder.
Again, why post here and now, if you don't hold yourself?

[cufes2] 03/9/2016 20:51

Why are any of us here . . . It's an interesting philosophical question . . . I tend to have an atheistic worldview . . . so the human race is simply an accident and we're ultimately without any real purpose . . .

[centipede] 03/9/2016 20:10

Hmmm . . . Yes, why ARE you here ?