Atalaya Mining Share Discussion Threads

[laurence llewelyn binliner] 01/8/2017 14:16

#SBT, I'm not sure if something was lost in translation with a bit of Spanglish here, and 'written off' meant they are simply not expecting it any time soon, as opposed to being able to book it as a crystallised loss..!

[superbobtaylor] 01/8/2017 13:57

#LLB - I agree. I am not sure that they should ever have added this to the assets. There is no separate line for it in the accounts that I could see so I guess it is in the non-current assets?

Will certainly distort the profit figures for the Q and the year as a whole.

Our resident ex AIM FD might be able to tell us more.... ;-)

SBT

[laurence llewelyn binliner] 01/8/2017 13:52

#SBT, I'm not clear if/how the grant was accounted for as it was never invoiced/received..?, but if it can be written down in Q2 in the same way a 'bad debt' can, then it will offset all Q2 underlying profits, leaving a scratch quarter or marginal loss.. it masks the real profitability of the company, but we are clearing the decks now of all these legacy problems as we move forward..

If the grant comes in at a future point in time, if it was subject to qualifying criteria we don't know about, then there is a bonus Q in the post..!

[superbobtaylor] 01/8/2017 13:29

No worries. Finishing this payment will add €1M to quarterly profit from Q3 onwards.

I guess taking the hit on the grant now in one go will wipe most/all of the profit for Q2 out but at least this will maintain our loses which we are using to mitigate any tax due.

SBT

[aldermana] 01/8/2017 12:11

Thanks SBT.

[husbod] 01/8/2017 11:42

I don't suppose the non-release of the Grant was tied to the clearing of the historic social security debt?

Presumably old Harry thought that paying Social Security in Spain was an optional extra.

[superbobtaylor] 01/8/2017 11:28

@alderman they did not pay off the entire €16.9m historic Social Security payment this Q. There was just under €1M left on the balance at the end of Q1. i.e They were paying it off at the rate of ~€1M a quarter. Q2 was the final payment.

SBT

[rougepierre] 01/8/2017 11:18

oh oh.....something brewing in the background...? Buyer still there...?

I can sell 20,000 at 126.95 but only buy 100 at 128.95....

hmmmm

[aldermana] 01/8/2017 11:16

My mistake. I had worked out the post tax profit position and took the two items - the €16.9m historic Social Security payment and the €8.8m non-grant - from that rather than the pre-tax position. So, I think we end up with around €4m headline profit for H1 rather than something €20m higher, which better reflects reality.

I wonder what they'll do in H2 to make it look like we aren't making out like bandits!

[husbod] 01/8/2017 11:02

I'm just hoping it's IHT exempt midyon but I'm not at all sure it is.

[midyson] 01/8/2017 10:54

same with every quarters news. small spike then gains wiped within days and a gradual decline until the next RNS. clearly a very unloved company which i foolishly invested in many years ago. i still hope that one day this will come good but it may form part of my pension by that stage !

[husbod] 01/8/2017 10:52

Thanks sirmoori. I really must stop looking at this share every few minutes and do something productive instead.

[rougepierre] 01/8/2017 10:34

MMs trying to shake out more stock...?

True spread at NMS is 126.52/129...

GLA

[sirmoori] 01/8/2017 10:33

Not really, Husbod. It's 2 v 2 now but not much support below this level. A slow rachet down with one MM each on 124, 123,122,120. Two on 119. If the slow, steady selling pressure that we have become used to is there, it's not going to take much to take it back down to 119.

[rougepierre] 01/8/2017 10:31

Excellent...buy on rumour, sell on fact...

Sold 11000 at 135.15 yesterday...bought back 5000 at 128.75 and 2500, 2500 at 128.95...

Who'd have thought it!?

Copper price not far below $2.90...too good to resist...

Looking for 25 million plus EBITDA in Q2...?

Onwards and upwards...

AIMHO as usual...

[superbobtaylor] 01/8/2017 09:04

RP,

I think that alderman is referring to the write off of the €8.8m EU grant. I had a quick look through the Q1 financial report and cannot see exactly where this number is accounted for? I assume it is long term assets.

SBT

[rougepierre] 01/8/2017 08:58

Sound objdctive post waterloo...

aldermana, the TDDI consensus Brokers forecast has EPS for 2017 of 20p and 35p for 2018 but I believe those are out of date and well undercast, so maybe your figures are also on the low side, but...your estimate of a loss for H1 cannot be right because we made a 5.2m euros profit in Q1...Im looking for net casflow of 30-35m euros in H1 (17p EBITDA) but we'll see...

AIMHO as usual...

[waterloo01] 01/8/2017 08:51

One things clear to me...I'm not as good as I think I am at predicting the share price.

[rougepierre] 01/8/2017 08:48

Sound posts all those guys...Im sorry if my well meaning positivity (which I always try to base on facts) sometimes overlooks the painful long haul that some of you have had.

I believe we could all agree that this share has an outstanding future and that maybe we have been a litlle less patient than the circumstances have warranted.

It is of course frustrating when we see others multibagging on little substance and nothing like what we already have, let alone the terrific prospects...but maybe thats the thing...we're steadily building a mining company of real substance; we have backers that others would die for...one day we'll be a FTSE company with a value many times todays.

In the meantime I still believe better, more and more timely use could be made of the elements of our story to create and build justified momentum, so lets hope Newgate gets at it...

Best wishes to all and total respect to those who are still underwater but still staunchly loyal...

[superbobtaylor] 01/8/2017 08:46

Not really bothered about short term gyrations. Yesterdays figures point to a Q2 EBITDA of more than €15 million. The working capital position will soon be normalised. All excess funds can then go into the expansion project and/or paying off Astor.

The direction of travel is clear to me, it is now just a matter of time.

SBT

[acamas] 01/8/2017 08:31

131p is the critical figure here will the buyers appear and bounce off of it or will it drop through into the previous channel. That is the question. Down 4p says to me they do not want sellers

[scargs] 01/8/2017 07:58

Atalaya Mining is mentioned in the financial pages of today's Daily Mail.

It is only a small article, but a step in the right direction.

Scargs

[mpclag] 01/8/2017 06:21

come on guys this has gone up 30% in 1 month. Still massively undervalued with the future prospects and current forward pe