Atalaya Mining Share Discussion Threads

[reba] 20/11/2017 10:49

ADFN at it again. Up 3p on offer 1.72 to 1.75. no change to bid price still 1.68.
it's as if they don't want anyone to buy these.

[laurence llewelyn binliner] 19/11/2017 17:46

Cash costs / AISC 'could' be artificially higher than under normal operating conditions, but.., I suspect there is logic behind it all.. :o)

As a consequence, the Judgment requires that, in accordance with the Master Agreement, Atalaya Riotinto Minera, S.L.U. must apply any excess cash, (after payment of operating expenses, sustaining capital expenditure, any senior debt service requirements and up to US$10 million - for non-Proyecto Riotinto related expenses), to pay approximately €43.9 million of the deferred consideration due to Astor under the Master Agreement and the amount of €9.1 million payable under the loan assignment early.

Much as we would like to see some strong profits, now isn't the time to report any, we need to get all the debt erased, bring everything up to standard, do all the preparatory works for the expansion, and keep a lid on profits.., next year the planning will come together as Astor gets dealt with..

PRT 39,000 Tonnes for 2017
PRT expansion news in a week or 2 to 50-55,000 Tonnes
Touro 43-101 news pre Xmas +35,000 Tonnes

@90,000 Tonnes with a $1 margin this starts getting really interesting and profitable.. ($200M p/a)

[waterloo01] 19/11/2017 14:42

It's reported quarterly and changes depending on circumstances so is a moving number.

[sithuk] 19/11/2017 14:02

The AISC is $2.3/lb in the latest RNS. Does that mean the life of mine AISC has been increased from 2 to 2.3$/lb, or that the quarter's AISC number only was 2.3$/lb?

[scargs] 18/11/2017 10:44

waterloo01

Thanks for your reply and I fully understand.

I read that Peel Hunt on 16/11 had increased its target from £2.25 to £2.35. In my book that is really low.

Scargs

[laurence llewelyn binliner] 18/11/2017 10:29

#waterloo01, I'm hoping to see a new investor presentation soon too, and we should see the results of all the revised broker note price targets grouped together there..

I'm encouraged by the progress made YTD, and the results of this will translate into profits moving forward as each debt box gets ticked off and dealt with, and each inherited problem resolved..

Q3 $2.88 market price
$2.66 realised price
AISC $2.33
AISC margin $0.33/lb

Q4 should be nearer $3.05 / $2.91, AISC <$2.30
AISC Margin $0.61, and +85% on profits.. with interest carrying loans/debts all dealt with.

PRT expansion and Touro updates next, Nov and Dec resp.. :o)

[husbod] 18/11/2017 10:18

Fair enough. Would it be in order to ask you what the average price target is?

[waterloo01] 18/11/2017 10:13

Scargs, sorry can't as they are for clients only and they are quite specific about not passing them on etc.

Flash notes were done by:

Bernburg
BMO
Canaccord
Cantor Fitgerald
Investec
Mirabaud
Peel Hunt
Shore

So 8 in total. Definitely on the radar!

[scargs] 18/11/2017 08:00

waterloo01

Thank you for confirming that you have spotted about 5 broker notes post the Q3 financials.

Would it be possible to post on here a link to these broker notes?

Your support and effort would be very much appreciated.

Re the Q3 financials. I am more than happy with the figures, and particularly pleased that Company has dealt with Transmine Trading, and I think Q4 financials will demonstrate further progress.

Additionally we can look forward to some positive Rio Tinto expansion announcements during Q4.

Good Luck to all we LTHs.

Scargs

[waterloo01] 17/11/2017 22:21

Yes, about 5 of them.

[scargs] 17/11/2017 19:14

waterloo01

Have you seen any broker notes post yesterday's Q3 financials?

Scargs

[robmcelf2] 17/11/2017 18:58

In that case hopefully we will see a share price rise next week!

[waterloo01] 17/11/2017 17:35

It will be funds buying. Broker notes are pretty positive and reassured by progress, profit and future growth.

[robmcelf2] 17/11/2017 17:27

Lots of big trades going on today.. any thoughts? The late trades at 1.75 seem positive.

[rich1e] 17/11/2017 07:10

50k a day doesn’t quite do it justice, 100-150 a day more accurate. Lack of liquidity? not at the moment it would seem. A handful of buys and the share price goes up, a handful of sells and the share price goes down, 270k traded (following 100+ for the last month) and the share price closes nearly flat? An RNS or two in the making right there? The intrigue!

[rich1e] 16/11/2017 20:47

vanhelsing, for “some interesting figures” what about 270k shares traded today. Looking at the charts above, trading has been over 50k a day for the last month. 25k here 25k there, when not too long ago 10k a day was a bit of a push. Couple that with the share price up 100% on last year and nearly 50% over the last 3 months and things are indeed looking interesting. Though I have to say, if Id sold out, like you and your mates, I’d also be less than thrilled.

Anyway something’s simmering in the background and about to come to the boil. Good or bad, who knows? But I suspect that we’ll find out what, in the very near future.

[laurence llewelyn binliner] 16/11/2017 20:42

#waterloo01, at 1st glance the bottom line numbers are not dynamite for sure, but I've tried to extract the real progress YTD in my post 9772..

Looking forward:

PRT : During the quarter, the study to demonstrate the feasibility of increasing mining and processing capacity beyond the current 9.5 Mtpa, to a maximum of 15.0 Mtpa at Proyecto Riotinto was finalised. The study has concluded the expansion is technically and financially robust. The Board is encouraged by these results and will provide further details on the expansion over the coming weeks.

Touro : The technical report is progressing ahead of schedule with all efforts now concentrated on getting the report completed and ready for release during Q4 2017. The technical report is confirmed to be at a pre-feasibility level of detail and in compliance with NI 43-101 guidelines.

Some more good news to come in during November/December..

[waterloo01] 16/11/2017 20:32

Been away so not properly read the release, but one does wonder what they would have looked like if Astor wasn't a factor? They seem to keep loading things forward, so to speak. Does the expansion also play a role here in that it will make the ASIC cost reduce even further with the upgrade in volumes?

There is a lot to like in here, but on 1st glance I am left wondering why they are making a good picture look slightly muddy?

[vanhelsingjr] 16/11/2017 18:26

Q3 vs Q2
5% more tons processed, 10% better grade fed, 10% higher grade concentrate produced, 2% better recovery, 20% more copper produced and, surprisingly, the costs in euros increase by 4%. Difficult to beleive. They must explain: commercial costs, virtual overburden and sudden increase in operating costs.

[acamas] 16/11/2017 18:12

llb,

Awfully glad I decided to buy VCP instead of ATYM. ATYM's results not to Markets liking imo

I know mining shares and charts do not always run hand in hand but this share is making lower highs which normally is a bearish sign

[vanhelsingjr] 16/11/2017 18:11

some interesting figures
tons sold
stock Q2+ Q3 production - Q3 stock = 40545 t cucon 8693 t payable copper
Sales 35.734.000 euros or 41.951.700 usd, income per ton payable copper 2,19 usd/lb
Market Cu Q3 2,88 lost on off-takes and commercial expenses 0,69.
Interesting, explaining everything.
Ore and overburden moved according to Q3 financial information and Q3 operations information
Q3 2,7 MM3 7,6 Mt average density 2,81
Q2 2,8 MM3 6,9 Mt average density 2,46
The Q2 average density is wrong influencing the figure for overburden and they are explaining the cost deviation on waste capitalization criteria.
They need a better controller.
After 45 days cooking the numbers, the final pie is still underdone.

[lanty33] 16/11/2017 15:42

One expression m8.....LOL. Share price down...great RNS..LOL

[laurence llewelyn binliner] 16/11/2017 14:25

2017 progress YTD:

Social security debt EUR16.9M - flattened
Transamine $14M debt - flattened
Working capital deficit reduced from EUR25M to EUR13M (-EUR12M)
Working capital deficit reduced from EUR25M to Zero in Q4 2017 now possible
Enabling works for 9.5 / 15.0MTPA to Power/Water/Tailings/Flotation plant side - done
EUR 7.7M of inventory in stock going into Q4
EUR 8.6M grant still pending subject to demonstrated milestones hit

2017 YTD debt reduction cEUR 43M + 7M stock value = EUR 50M real term gains, that's a stunning turn around in my book from a loss maker in 2016, and demonstrates what we can earn/profit a year when all the debts are gone, and still with Q4, the strongest quarters results to come in..

From H1 - the Company has also incurred interest costs for the Transamine prepayment and the Social Security debt.

Today's figures and accounting tools are masking the real progress the company has made CuFeS2 and well you know it.. paying down anything that is carrying an interest penalty as soon as possible are a priority and the right foundations to build the company on..

2018 Pay off Astor
2019 Flatten the trade payable's
2020 Pay for the PRT expansion from Cash...

[edit] lanty33, clearly you are not very good at extracting the progress information from RNS's that isn't about the bottom line profit..!, some people can, which is why we will see the days close erasing earlier losses..

[lanty33] 16/11/2017 13:43

`cash cow` LOL not for us pi`s m8!

ATB l33

[superbobtaylor] 16/11/2017 13:43

@VISH65

Your numbers are not even close to correct. You choose to include Payables but omit Receivables. You also decided to omit Cash and cash equivalents. You are double counting some costs by including both Working capital and Payables.

@Langostino

"The price of copper, the cost at which it is dug up and the price for which it is sold is marginal at best, and not worth fretting about."

What a load of nonsense. You know full well these figures relate to the Q2 price of copper. The companies profit margin at current Cu price is nearly double.

@CuFeS2

Something sensible to debate. You know as well as I do that they are making sure that there is nothing to pay Astor in this FY. E.g. Paying up Transamine early. Next year the case will be heard and we will finally have a conclusion. Until we know what that is no one knows. What I do know is that AL has proved himself very adept at securing excellent lines of credit with suppliers.


SBT