Atalaya Mining Share Discussion Threads

[laurence llewelyn binliner] 18/1/2017 08:39

2016 production 26,179 tonnes of copper contained in concentrate, in line with the high end of our production guidance of 23,500 to 27,000 tonnes.
Contained copper production during Q4 2016 was 8,938 tonnes, slightly above the Q3 2016 figure of 8,752 tonnes.

Copper recoveries during 2016 averaged 83.29%, well above historical records.
Q4 2016 reported recoveries of 84.47%, up from 83.60% during Q3 2016.

2016 Copper grade in concentrate averaged 21.56%
Concentrate for Q4 2016 increasing to 22.79%, compared with 20.47% in Q3 2016.

So for Q4, a + 0.87% recovery rate, and a +2.32% gain in concentrate.
Rolled out over a full quarter this will make for quite an impact on the Copper produced.

I make this around +2000 Tonnes of Copper over a year on efficiency savings alone and towards the top end of our 40,000 Tonnes guidance for FY2017.

[sirmoori] 17/1/2017 18:42

hxxp://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/copper-slips-forecast-remains-positive/?mqsc=E3867469

[stockknobjockeyvanbookstino] 17/1/2017 18:21

RP it was a sell of 29,455 shares yesterday for £1.60 at 3.24pm yesterday, not a buy.

[acamas] 17/1/2017 18:06

mip55,

Turn it into a cash cow that will allow second stage expansion of the Company elsewhere in due time. Build up a war chest from it.

[iankn73] 17/1/2017 18:05

Looking at todays share price The content of RNS was now what most had hoped for by the looks of it. Although I'd imagine there are a number of wannabee trader in there trying to make a fast buck and it looks may have backfired for some.

Ok, maybe not as bullish as I would have liked, but this is what we have been accustomed to under Alberto's leadership. I'm very comfortable with the content.

I especially like the increased recoveries to 84.47% from 83.29% as has been mentioned and the positive drilling aspect (preliminary) which should add further value to our share price

News to follow.

1. Astor case/result approx 2 weeks away.
2. Exploration results adding mine life and value to share price all going well. Maybe (Q3)
3. Financials April assuming the copper price holds up or even better increase which I believe it will. The results will be very impressive indeed.

Only two weeks until the outcome of Astor claim (hopefully)

If the outcome is favourable and the copper price continues on it current trajectory then you can forget about this £1.60ish resistance sooner rather than later.

Only 6% down on the day and a down day for most miners in general. Considering where we were not so long ago it aint that bad.

[rougepierre] 17/1/2017 18:04

Wow!

Why has that late booked 29,455 Buy at 160.001 from yesterday afternoon only just appeared?

Maybe it was part of a much larger order but the Buyer has finished prematurely pending the price settling down...

Indeed there were 3 meaty buys this morning...15, 21.2 and 10...

[mip55] 17/1/2017 18:03

Speaking personally I am greatly encouraged by this bit in the RNS:"2016 was a year of project development and ramp-up for our Company. Our results have generated strong production figures and give us significant confidence going forward. We look forward to 2017 as a year of consolidation with further operating improvements and cost efficiencies."Hopefully this means that we have a newly profit making company that is going to concentrate solely on increasing those profits.... And NOT be diverted in 2017 into new and expensive other ventures ! The time for that will come of course but let's make some money from this mine first!!

[acamas] 17/1/2017 18:02

rp,

You can only go down that road if you believe the mine has a total lifespan of 16.5 years. That might be extended to say 50 years with expansion and underground drilling still to come. There are right now to many unknowns to be finite over the mines lifespan

[rougepierre] 17/1/2017 17:55

Can anyone remember what the assumed annual tonnage was in the context of the planned 16.5 years mine life?

Because if we step up mining to 12.5m tonnes in 2017 some time that shortens the mine life. In which case either the grades have to improve or we need additional resources to be mined to produce real growth in the copper output.

In fact, if we expect copper to reach $3 and stay there indefinitely, it argues in favour of steady mining until we reach $3 and only then stepping up to 12.5m tonnes doesn't it?

Maybe that's why Alberto is only projecting 34,000 to 40,000 tonnes for 2017 when I believe earlier assumptions were 45,000 tonnes...?

Obviously in terms of enterprise value it's better to produce at that level when copper is $3 or even $4/lb rather than $2.60...

What do you think?

[superbobtaylor] 17/1/2017 17:40

I would be more excited about possible higher grades. More of the same is great but whilst we are capacity constrained it won't add much value as payback is so far into the future. Even another 5 years would not really move the dial on a NPV10 valuation.

Does anyone know if this is even the same ore type? IIRC I think there has been talk in the past that this is different and would need completely different processing anyway.

Where is bookworm when you need him?!?

SBT

[acamas] 17/1/2017 17:36

waterloo,

Although we cannot process it we can show it as reserves which should add value to The Business and strengthen our financials

[acamas] 17/1/2017 17:25

shortarm,

I know that so whats your point. At present we are looking at 16/17 years what if we can extend it by upto another decade and use it as a cash cow to develop other projects in the area? Just how much or how far can ATYM grow? Is my point!

[waterloo01] 17/1/2017 17:25

Acamas, yes and grades. How much longer must partly depend on expansion as we can't process much more ore as they are currently close to capacity. I guess might be more tied into getting from 9.5 to 12 so release it as and when also have costs of expansion in place?

Whatever, making more from within our known resource, will I hope, take priority over any external assets.

[shortarm] 17/1/2017 17:21

It's already had a mine life of like a thousand years or more!!

[acamas] 17/1/2017 17:20

waterloo,

All this extra drilling do you think it will lengthen mine life still further?

[vish65] 17/1/2017 17:09

Waterloo - something along the lines of

" But if we release this information we'll only get even more questions and emails from those pesky PI's on the bulletin boards"

" Yes you right. Lets hold on to it. Make them suffer a bit more."

:)

[rougepierre] 17/1/2017 17:07

I make it 98.7 sells and 102.7 buys...pretty balanced...

[laurence llewelyn binliner] 17/1/2017 15:24

#Lango, negative, dismissive, and smelling loudly of sour grapes... never... ;o)

All in favour of contrarian views for balance tho' to keep perspective on the BB..

But credit where credit is due, the RNS today from the company underpins their promise to deliver us to 9.5MTPA for year end 2016, which is what they've done, and with c9000 Tonnes of Q4 Copper sales, with an increasing plant efficiency, decreasing costs, and with some sweeter grades to blend in the future..

I'm more a glass half full sort of guy..!

[waterloo01] 17/1/2017 15:04

Anyone have a sense of the reason to 'take control' of the news flow re exploration? We're fairly certain that the grades are good, and certainly better than we are currently processing. It's also a significant added resource, so why hold it back/go slow?

[shortarm] 17/1/2017 14:57

And copper is heading right back up there.....

[shortarm] 17/1/2017 14:50

67p Lango...Meanwhile, max buy online is 2.5K at full ask.