Atalaya Mining Share Discussion Threads

[acamas] 27/1/2017 08:37

LLB,

So would I but The Market is a strange beast that often over compensates for happenings it fails to immediately understand. It can drop by 5p in one day and take 5 days to regain 1 penny

[rougepierre] 26/1/2017 21:52

shortarm...you'll know when I've sold my 50%...as long as nobody thinks it's boasting of course....

have a good one...

PS in the age old words..."it's the copper market stupid..." cleared $2.70...fell to $2.64...recovered to $2.66...waiting on Escondido and Astor...

[shakeypremis] 26/1/2017 17:33

If it does go Astors way I think we will have to expect a drop in the SP, at least early on afterwards. Maybe even only for a few hours or even less.

[waterloo01] 26/1/2017 16:45

Funny, I expect them to have to cough up, on similar terms. Now they are in production and profitable, with copper at steady over £2.50, they'll pay it off over the 5-6 years.

It's not a company breaker and will finally remove one of the last outstanding corporate issues, so either way....

[laurence llewelyn binliner] 26/1/2017 16:43

Well contrary to COMEX Copper still being $2.67, our share price has either turned on the chart spike again, or 160p+ prompted a few sellers ahead of Mondays court case..

#Acamas, I would like to think that the downside for us on a judgement is already built into the share price as we are still under 200p, and only just over the pre-consolidation share price of 142.5p, so altho' the share price has recovered well since November, it is still 5p old money, and no more than when we were making no Copper at all..

[acamas] 26/1/2017 16:39

tedoby2,

I agree with you but the Market is always cautious and errs on its own side. So the share price has two ways to go and The Market does not like to get it wrong so the safest thing is to mark it down short term imo. But what a buying opportunity if we are correct in our thinking right now. Contrarian investing and all that!

[tedoby2] 26/1/2017 16:33

Acamas I believe ATYM have been very careful not to put themselves in any form of breach material or otherwise in any of the contracts with Astor and there are several.

For Astor to win their claim they need to convince the judge that the contract clause stipulating that the payment schedule is conditional upon there being a senior debt in place is somehow unenforceable. I think they may have difficulty with that given their lawyers must have been party to drawing up the agreement in the first place and the condition couldn't be clearer.

Even if Astor manage to win I believe they should only be awarded what they've asked for and no more. That is effectively to be put back into their their original position as of February 2016 before any alleged breach on the part of ATYM. If that's how the judge sees it I imagine ATYM could be directed to pay the first payment due and others as they fall due in accordance with the 7 year schedule in the contract . So perhaps $8m -$10m or so to begin with including any interest and fees to be paid within a reasonable period. ATYM should easily be able to meet such an award and any further scheduled payments out of work in progress now if we stay at current Cu price levels or better without the need to raise any finance whatsoever.

When you think about it ATYM have already won regardless of the outcome of the court case. I imagine they wanted to get the mine running at a steady state and nameplate before starting to pay Astor back out of WIP and they've done that.

AIMHO

[husbod] 26/1/2017 16:29

Didn't expect this sort of drop I must say. And copper isn't going the right ay either. Has Trump announced that only American copper can be used in the States?

[acamas] 26/1/2017 15:17

Yes The Market loves uncertainty! If the court case goes our way then any purchases today will be a steal. However if it does not is the damage already built in or will we have some shorting till some good news appears. That is the question "to win the case or not win the case" as what Shakespeare wrote according to the little man with the short fat hairy legs.

[husbod] 26/1/2017 14:27

Nerves over court case?

[shortarm] 26/1/2017 13:23

RP, you offloaded 30,000 in three lots?

[husbod] 26/1/2017 11:30

Except I believe for GLEN who have mines on hold which presumably can be brought back into production quickly whenever the Cu price hits whatever level is profitable for them. I haven't seen anything to suggest that that level has yet been reached but I haven't visited the GLEN bb for a while.

[laurence llewelyn binliner] 26/1/2017 10:59

#saintb... many more are hitting their lower grade ore, some reaching cut off grade too, all of this added up will impact on the supply side and with the supply/demand roughly in balance in 2016, it's going to accelerate the downside to supply from 2017 as forecasted.., sub $2.00 Copper has halted any investment into new deposits, and that is a 10 year curve if they found any tomorrow to get into production..

We really have nailed the timing of PRT to hit our 40,000 Tonnes of Copper for sale..!

[saintb] 26/1/2017 10:34

LLB. I saw this morning that Anglo American, although posting good figures, have reported a drop in copper production over the last quarter.

It has been discussed for some time that there are more companies mining lower grades which, as mentioned in your link, is happening to Freeport. How many more I wonder?

[shakeypremis] 26/1/2017 08:51

Very wide spread this morning. 168 something to buy and 162 something to sell. Robbery.

[wanderer1210_0] 26/1/2017 06:50

Copper continuing its upwards trend and is currently 2.7220, next stop 2.80?

[laurence llewelyn binliner] 25/1/2017 17:38

The Copper price chart / ATYM share price makes for interesting viewing as a forecasting tool now we are a pure Copper play, we should see a 200p share price well before $3.00 Copper..

COMEX Copper $2.71..

2016 was unusually disruption free on the supply side, and predictions are that 2017 will have a lot more of them and impact on the close supply/demand equilibrium tipping it in our favour and driving prices up..

Here's the first big player to downscale their supply forecast, next stop $3.00 Copper ..?

[wanderer1210_0] 25/1/2017 16:30

Plenty of life North of Inverness, The North Coast 500, is now very popular and takes you 500 miles around some if not best scenery in Europe. Well worth a look, with packages to suit every pocket. Pitlochry is not my scene too commercialised, and IMO not worthy to be classed as "The Highlands"

[acamas] 25/1/2017 14:52

rp,

Very nice area , Kinguisse ,Crieff & Gleneagles with the golf course. Excuse my spelling if they are incorrect. Then there is Culloden with its battle site in the woods and on to Inverness, very fond memories of the area

the malts are veritable trail on their own

[acamas] 25/1/2017 14:51

rp,

Very nice area , Kinguisse ,Crieff & Gleneagles with the golf course. Excuse my spelling if they are incorrect. Then there is Culloden with its battle site in the woods and on to Inverness, very fond memories of the area

[rougepierre] 25/1/2017 14:43

Pitlochry wanderer...

Weather beautiful...went up to Braemar on Monday...blue skies and hardly any snow, even on the tops...unusually mild weather...

11 degrees today; 10 degs earlier in the week when London had freezing fog...

Best to all...

[laurence llewelyn binliner] 25/1/2017 13:41

Great to see 160p+, that's double the share price since end of November, well done to those that were buyers at that level, and a big step towards BE for a lot of us here..

Difficult to make much sense of the technical trading points here, when we are so heavily geared to the Copper price, +10% on Copper = +50% on profits.

@ $2.70 Copper, $2.60 payable, $2.00 costs, $0.60 margin, $52.8M Gross Profit.. :o)

[wanderer1210_0] 25/1/2017 13:38

Copper coming back again, just hit 2.70, let's hope it's another sustainable level from here

[wanderer1210_0] 25/1/2017 13:02

RPWhere abouts in the Highlands?

[rougepierre] 25/1/2017 12:41

Just thought...nobody's mentioned that at this price we are breaking out of strong resistance....