Atalaya Mining Share Discussion Threads

[husbod] 21/8/2017 10:44

If we make 5p old money this week I might treat myself to an Old Speckled Hen.

EDIT (at 11.45) 5p TODAY and a bottle of decent Rioja. That should stop any further rise in its tracks.

[aldermana] 21/8/2017 10:05

CAML flying this morning and good volume here too, let's hope it drives the price up...

[husbod] 21/8/2017 10:00

Back to tightest spread. Is L2 looking similarly healthy?

[shortarm] 21/8/2017 09:46

The Aye's have it at the moment....Copper has to break three dollars this week :-)

[laurence llewelyn binliner] 21/8/2017 07:51

$3.00 Copper overnight ..., that didn't take long did it, and 1st time through this barrier since November 2014 on the way down..

Now we do have a $1.00 C3 margin to build the company with.. :o)..

[sithuk] 20/8/2017 16:45

Following up on a ZH article posted here a few weeks ago.

ZH reported that the Cu price follows the Chinese credit impulse on an 18m lag. Cu has been tracking it for 8years. Prediction is Cu up to $3.20/lb Sept 2017 then down to $2.40/lb Sept 2018.



Not far to go til $3.20/lb Cu and then we can see whether it's different this time, and Cu finally stops following the Chinese credit impulse on an 18 month lag.

Does anyone know where I can find data on the Chinese credit impulse?

We could of course make more profit if Cu drops in USD and the Euro/USD weakens by a greater amount, as our costs are in Euros.

[laurence llewelyn binliner] 20/8/2017 16:12

#comeon, all the milestones we've ticked off were to get us to the start line in 2016, they didn't add any monetary value as each 1 was ticked off, but they all added up to enable us to start operations, which we did, but we running at a loss or break even for the year and much as I would like to see a stronger SP, there was nothing to underpin it, .. we still had Astor and not making any roads into settling the debt..

However, in 2017 we are scaled up to 9.5MTPA, and will be selling 180,000 Tonnes of Copper in concentrate to make c38,000 Tonnes of the red metal, but now with a $1/lb gross margin, and this makes a difference as we can pay off the legacy debts..

The Social Security debt is now fully paid, the working Capital deficit is coming down too, as we clear this our maintaining working capital costs come down, so too the AISC costs, then we can deal with Astor and wipe the slate clean, it's not realistic to expect a stronger share price when the company has empty pockets, a debt and not paying a dividend.., but that's all about to change IMO towards FY2017 as value is added..

2 years out from here, Astor gone and a 10p per share dividend will do me just fine for the long run.. :o)

[lanty33] 20/8/2017 14:28

Yea yea yea ..I have heard it ALL before....This is our year.... soon to be in profit.....Astor holding us back.....low liquidity....2018 will be our year.

I have been in this dog of a share for far too long.I just want to break even to
exit.All the reasons for low share price I have heard.I am still not convinced the sp
will rise dramatically(but will be delighted to be proven wrong).`Hope springs
eternal` and all that.

ATB l33

[come on] 20/8/2017 13:17

But why are we still so poorly valued, we should with a copper price of about $2.9 be well in excess of here. The 10000 sells shouldn't be enough to keep us down. The background issues need to be sorted instead of hanging over us and then, maybe then it will be our time

[laurence llewelyn binliner] 20/8/2017 10:37

#waterloo01, excellent Katusa research article, which cements why I started to invest in industrial metals starting in 2010 (a little ahead of the curve..!), the demand is coming from Green NRG and EV's.. and we are IMO perfectly positioned to capitalise on it for the next 10-20 years as we scale up..

Genuinely exciting times for the company as we gather pace, cash, and ramp up the numbers.. I'm more relaxed about my holding here now than at any other time on this 7 year journey, and 1 day the tax free ISA dividends will pay off handsomely, break ever or a profit is a way out yet, but it will come over time.. :o)..

[waterloo01] 19/8/2017 11:18

LLB, my $100m EBITDA is based on $3.00 copper and a $1.00 margin so with a tailwind in copper and improvements in C1 costs, that could be out by a significant amount.

The article certainly sets out the bull case.

[laurence llewelyn binliner] 19/8/2017 10:48

Yes waterloo01, we will, 1 day trade on a more sensible PE, and we will be a $1 or 2BN company, with multiple pits and projects running, 2017 is the beginning for us, the next Copper Bull run and we are in at the beginning, and scaling up..

As the Majors look to M&A, profitable projects in stable governed countries are only going to get rarer, just look at the mess you can get into in South America / Indonesia, where strikes are never ending, power unreliable, and governments just slap taxes on the miners 'because' they need a new type of license..!, and that's all before Cyclones/Earthquakes shutting things down.

$80/90M EBITDA is possible in 2018 with a tailwind from Copper, earnings close 70/80p/share.. we won't be down here at £1.40 for long as the profits start rolling in, and we clear the decks from all the legacy carry over debts, and build up our cash position..

Steady ISA stake building every year here, and take a view on it in 2020.. 10 years in was always my strategy, the average has been coming down, but April 2018 might be the last 1 before it takes off..!

[scargs] 19/8/2017 10:47

waterloo01

Thank you for posting the above "katusaresearch" link.

A very well written article that makes a lot of sense.

ATYM as a Spanish producer is very well positioned.

Increased tonnage at Rio + the potential tonnage at the new mine in the North of Spain + a much stronger copper price.

All looks very positive.

Thanks again waterloo01.

Scargs

[waterloo01] 19/8/2017 10:18

This sort of prediction (copper at $5.00 by 2020) matches my own reading of the charts/stars!.



"Last year I stated we would wait 12 months for the market supply and demand to find a base, and that is exactly what has happened. Prices have finally moved significantly off their 2015 bottom. The big trend has changed from bearish to bullish.

Now is the time to start buying world-class, big, top tier copper assets in politically-stable jurisdictions.

The best part of the above statement is that there aren’t many projects that fit the above description. And because of that, they will fetch a premium during the coming copper asset consolidation.

Over the next 24 months, I believe we will see some significant consolidation in the copper development and production sector."

[laurence llewelyn binliner] 18/8/2017 16:01

We are in danger of reaching the dizzy heights of the pre-consolidation price of 142.5p at the close, but a better week for us with strong Copper to sell into.. we're heading the right way at last.. :o)

180K traded, another high volume day for us..

[husbod] 18/8/2017 15:08

Can't fault the logic rouge but I still have ground to make up having bought quite a few at between 10p and 12p old money so despite averaging down I wont be top slicing for quite a while.

[rougepierre] 18/8/2017 14:33

Sorry Husbod...forgot to answer your question...

Yes still plan to sell the remainder of the 'half' plus the stock I've bought back since, when the price reaches twice my revised average....it wouldn't be wise to continue to hold potentially £400k in one stock, no matter how brave the missus and I have been...

We're both late 60s...time to spend and enjoy well earned rewards while keeping a burgeoning nest egg on the side...

Hope this helps...

[husbod] 18/8/2017 14:01

If that is the case rouge then that is indeed excellent news and probably makes this at least a five year hold.

Might even transfer some more into an ISA next year.

Are you still intending to top slice or stick with your full holding?

[rougepierre] 18/8/2017 13:35

Excellent liquidity...

140.5/141.25 in 10,000 both ways...

Solid!!!

[rougepierre] 18/8/2017 13:05

hxxp://www.laopinioncoruna.es/galicia/2017/02/24/empresa-explota-mina-touro-proyecta/1155747.html

YOU'VE GOT TO LOVE THE LAST SENTENCE BELOW!!!!

Translation

The company that owns the rights of exploitation of the old copper mines located in the municipalities of O Pino and Touro , intends to resume this activity in the field, which now serves as a quarry for the production of aggregates. Explotaciones Gallegas has commissioned the company Atalaya Riotinto , which has in its Riotinto mine (Huelva) its base of operations and main asset, which analyzes the potential of the mining area for the production of copper. TO


Mbas companies, in collaboration with the Universities of A Coruña, Santiago and Vigo, are about to close the study on their viability "with all economic and environmental guarantees," as reported yesterday from the company Explotaciones Gallegas.


The Touro deposit is a mining area in use since the nineteenth century that was operative as a copper mine between 1973 and 1986. The company that currently exploits it for the production of aggregates does not doubt the profitability of the project, taking Taking into account the price of copper and the demand for this material by emerging countries.

The exploitation of the mine for the production of copper would make the Corunna deposit the largest in Europe in its modality.

[rougepierre] 18/8/2017 12:54

I think the most interesting thing is:

"although it is dedicated only to the extraction of aggregates..."

If Explotaciones Gallegas have been doing this, they will already have crushing equipment for the purposes of reducing rock to aggregate, so we only need to add on/adapt to a copper processing plant...

Onwards and upwards....

[shortarm] 18/8/2017 12:48

Plenty of people letting go at 140.5I want 340.5!!!

[waterloo01] 18/8/2017 11:38

Touro looks excellent and most of copper is near surface and can be strip mined. Loads of holes drilled over years, so is known resource and I think under reported so far.