Atalaya Mining Share Discussion Threads

[shortarm] 06/7/2017 16:02

100,000 - couple more of them and all bets are off!

[neilweymouth] 06/7/2017 15:58

Looks like a buy to me.

Market will take 40000 @ 110 but only offer 10000 @ 112

[waterloo01] 06/7/2017 15:39

Well it moved down, I bought 2000 almost instantly followed by a 5k sell at 1.09.

100k at 1.11. Buy or sell?

[shortarm] 06/7/2017 15:37

Jwafc- 'tis true'!

[waterloo01] 06/7/2017 15:30

ad1967, makes some sense although given the exceptionally low gearing compared to almost all it's piers, it's also illogical at the same time!

[jwafc] 06/7/2017 14:47

Like all aim shares, the MMs will just move the price (usually down) until it triggers some action.

[ad1967mc] 06/7/2017 13:09

The issue here is how heavily the market is discounting free cashflow. With negative working capital and the need to payoff Astor (eventually), the market has been spooked by the additional funding required for further PRT expansion and Touro. It pushes back further when free cashflow will accrue to shareholders. Given the volatility inherent in copper prices it makes sense to discount that cashflow more harshly.

[shortarm] 06/7/2017 13:05

There will come a point where many people dive back in.Once that start my kitchen sink will also join RP's

[manfrom] 06/7/2017 12:45

I sold out of here a little while back and at a loss. I didn't want to but I just could not see where this was going and who was calling the shots. I said then that I was not happy with the PR and general honesty of communications. I wish you all well because its ridiculous that this company is not showing a min £2.00 share price
Just a thought, if "they" drive this share price down to the point where most of the remaining pi's sell out.how much stronger are their option to go private or strike some other sort of "city deal"? Well done to the regular LTH who post relentlessly, you have far more faith than most. Good Luck

[shortarm] 06/7/2017 12:44

My kitchen sink has been removed and sold...... It's ready :-)

[acamas] 06/7/2017 11:39

It is best to be out right now. Follow the drift down then jump back on when the trend turns. I am not sure you can put a support line in right now other than to say it is somewhere between 110p and 80p

If I am correct it will turn out to be a fantastic opportunity for those who get their timing correct and ride this share past 200p

The last time we were at this level looking at a falling trend was June 16. Could it be the sell in May summer effect and nothing more

Dont the Spaniards take August off and go to the beach?

[rougepierre] 06/7/2017 10:29

Can't do it on my own SBT!

Have to conserve my firepower...

If necessary I'll throw the kitchen sink at this...

[rougepierre] 06/7/2017 10:27

BTB...I woke up in the middle of the night and was wondering whether this is happening because Orion are hawking their stake and the prospective buyer is trying to get the price down...

We know Orion are heavily committed to WTI...

And also I am in no doubt that the Astor Appeal is a drag. Markets simply don't like uncertainty.

After the new PR guys were appointed I hoped we were going to see a steady flow of RNSs. It happened at first, but then they dried up...

And as a result, together with the steady stream of negative comments on here, the share price is trending south...

But I am certain that the Q2 Report will show the extraordinary and growing success of this Mine...

AIMHO as usual...

Oh and by the way, thanks for your continuing excellent posts Ted...

[superbobtaylor] 06/7/2017 10:25

Come on RP you can match him trade for trade!

SBT

[rougepierre] 06/7/2017 10:23

And Mr 5,000 takes us down again with a 8000 sale at 112 vs Quote of 113/116...

[waterloo01] 06/7/2017 09:55

At least the fire wasn't down to PRT.

[tedoby2] 06/7/2017 09:55

waterloo you're seeing that about right in my view.

The review and study should be a no brainer really in a strengthening copper market.It's simply a professional democratic box ticking process as I see it.

Through economy of scale we should see the AISC's reduce by at least 10% but it shouldn't go unnoticed that the current trend in the Euro/$ exchange rate is having a slightly adverse affect on costs at the moment.

The cost of expansion should be met without the need to raise money the equity route. As we're told there's a few options other than dilution not least of all the one refreshing the Transamine agreement which becomes available early in Q4. But even that may not be necessary in my view. The BOD and the certainly will not support any dilution at anywhere near the current share price levels as things stand.

The critical points of the expansion will be crushing as we're told and the water supply along with upgrading the mining plant.The crushing whilst not cheap should be relatively straight forward and so should replacing some of the mining equipment with bigger machines. The water is slightly more involved but there's already the bones of a plan in place to deal with it I believe. The power supply will be at it's upper limit but I don't think it will be necessary to upgrade unless things have changed.

If my memory serves me right I wouldn't be surprised to see a Capex budget of around $30m-$40m including a contingency with payments being spread across the work programme. Most of the cost will be through agreements made in the supply chain having extended payment terms. Just as Alberto did with the initial Capex. I don't see any payments being made pro-forma other than perhaps a few fees and payments in part for specialist equipment and they could be paid through the sub-contractors in the supply chain in any event.

So absolutely no dilution necessary to meet the cost PRT's expansion.

Just a couple of minor points. Firstly the current off-take agreements take us up the old total in the original NI43-101 and I believe we still have the balance up to the total assessed in the new report in hand.

And secondly the discounts agreed with the off-takers aren't straight forward but are small and not with counting in my view. They amount to around 2.5% to 3% but they only apply to approximately 10% of production. So effectively 0.25% to 0.30% overall. I can see there's some confusion so please check this with the company if you feel the need.

AIMHO

[sirmoori] 06/7/2017 09:29

OK, I've been a holder for 7 or 8 years, is it now? Sort of lost count. And I'm as disappointed as anyone with this share price movement. But given the fundamentals, I am starting to find this funny as in hilarious funny. And it's not hysteria!

[waterloo01] 06/7/2017 08:29

Don't see equity as needed for PRT expansion, they should be able to do it via cash, offtakes and supplier credits. Also don't think they will do any equity portion while the share price is below £1.42 (last discount placing) and director buys were a clear signal of that.

[laurence llewelyn binliner] 06/7/2017 08:19

02.06.2017 RNS.. In anticipation of a positive outcome of this study, the Company is currently evaluating different sources of financing.

As this is ongoing, what form do we think the funds will come in from to enable the RPT expansion from 40,000 Tonnes to 55,000 Tonnes..? (+37.5%) capacity/output, and at what cost level..? ($50M...?)

I think/prefer cash and off takes for cash for full cost price, and don't see equity as part of the package for PRT, Touro, I'm not so sure about tho, but 3/4 years out from here we will be in a much stronger cash position..

[edit] I see from SH on II that Atalaya/Alberto are now linked to a Gold project too (Black Dragon), perhaps this is 1 of the other opportunities he is evaluating going forward for us..!

[erric] 06/7/2017 08:08

It's not very popular to agree with fool's gold but I am also of the view that "evaluation" of financing is a heavy drag on the share price and it will take a huge movement in copper prices to offset it.

[cufes2] 06/7/2017 07:34

There has been around a 25% drop in the share price since the Touro announcement in February despite all the supposed good news and the recent rise in price of copper . . .

[acamas] 06/7/2017 07:17

I was looking at my last sale on 19/06 at 120p so in the past 2 weeks the price has dropped 5p or 4.17%. This is just general drift as far as I am concerned. Most probably because the information coming from the Company is not exciting The Market. It is good news but it is not excellent news

[cufes2] 05/7/2017 21:47

Some people are still ignoring the obvious current drag on the share price IMHO . . .

In anticipation of a positive outcome of this study, the Company is currently evaluating different sources of financing.

[head gardener] 05/7/2017 21:31

Stalemate, huge fundamental value, high copper price, and a unresponsive BOD to the poor s/p, the only remedy is to issue a dividend which will trigger Astor's claim, catch 22, and the company's aim is in asset growth.