Atalaya Mining Share Discussion Threads

[rougepierre] 05/12/2017 08:52

This is excellent news. I dont believe it shortens the mine life, because there are resources within the property that havent been tapped yet.

Tomget away a placing of this size with the support of all the major shareholders, at a price close to the market price is a testament to what Alberto has achieved and the clear confidence of new and existing investors...

It also will improve the liquidity in the shares. While I dont fell the need to participate, I will buy if they fall below the placing price because I believe the value is there...

It also brings dividends 39m closer if you think about it, once Astor is resolved, because otherwise this financing would have been needed out of cashflow. And it is a statement of confidence in future copper prices...

AIMHO as usual...

[rich1e] 05/12/2017 07:11

Well done to the company yesterday, clarifying the placing terms at the time of the expansion news. There could well have been weeks of speculation on the nature of the funding and the price. In such a void imaginations, either intentionally or unintentionally, tend to run riot.

Anyone newbies reading yesterdays news and then taking the time to look a little bit deeper, would have been encouraged with the current share price in relation to the placing price. However most don’t look much deeper than what’s being said on the bulletin boards and the technical entry point of 167p had been replaced by the hypothetical entry point of 120p. Let’s see if there are takers today if the ask gets closer to 167p.

[waterloo01] 05/12/2017 06:52

If I understood your logic.

[head gardener] 04/12/2017 20:36

ATYM have a commodity which sells at.... but which they have the need to increase capacity to lower production costs plus the finance of a further mine. Why have the 70% ownership need to dilute shares in issue when they could have bought back 20% shares in issue to the same effect,which leaves 10% in public ownership which exposes this as a private vehicle, why list when finance is readily available as a private entity. Tell me is my logic is flawed.

[rich1e] 04/12/2017 20:15

Interesting news today, though I’m more intrigued by the big trades that have been going through lately, 20k here, 40k there. I see no reason to link them to today’s news, as they haven’t moved the share price greatly in either direction, didn’t hit the placing price today. More in keeping with a big seller and buyer at work.

The seller? maybe Majedie reducing, they have to be 70% up in 2 years, that’s what funds do. The buyer or buyers? time will tell. It would be no surprise to me, to see more news very soon.

Maybe Onions knows? he holds 100k and is determined to talk the share price down to 120p without a thought of selling his own holdings, very strange behavior in itself.

[mronions] 04/12/2017 20:03

"Good grief, there are 100’s Of AIM companies that would give their right arm to raise capital at a minute discount to SP" says Wanderer

Its a sh111111111teeeeeee price

5.5p (old money) !!!!!!!

broker valuations 275-290p and we are selling at 167p

it is a disgrace

we should be raising debt if our share price is at this level

we are going to have to pay ASTOR because of this now in any case

[wanderer1210_0] 04/12/2017 19:46

Then sell up and move on

[mronions] 04/12/2017 19:42

"Good grief, there are 100’s Of AIM companies that would give their right arm to raise capital at a minute discount to SP"

Its a sh111111111teeeeeee price

5.5p (old money) !!!!!!!

broker valuations 275-290p and we are selling at 167p

it is a disgrace

[mronions] 04/12/2017 19:40

we are raising money at a sh111111111te price

I don't want to sell 20% of the company at 5.5p , I would prefer debt finance

[head gardener] 04/12/2017 19:33

Bullish copper market and a share price at this price, please explain as I am baffled.Why there is no interest in this company at the current price, it suggests that this is purely a private company that ought to do just that, and the market knows this.

[wanderer1210_0] 04/12/2017 19:33

Good grief, there are 100's Of AIM companies that would give their right arm to raise capital at a minute discount to share price If Mr O thinks ii's will sell shares at £1.69 then buy back in at £1.67 he's deluded. Not only that but he goes further to contradict himself by saying the Astor debt will further smash the SP, then I ask why would ii's take part in any placing? My bet is the placing will be fully subscribed with many ii's seeing a booming commodities market and ATYM will be perfectly placed to deliver into this market running at maximum capacity

[stockknobjockeyvanbookstino] 04/12/2017 19:32

Next RNS will be proven increase in resource of +/- 35/40%.

Onions doesn't know his own.

[waterloo01] 04/12/2017 19:12

and all the time growing into a bullish copper market, and doing so profitably with as yet, very little debt and in a 'safe' geographic location.

Don't think many will complain as they grow the market cap.

[head gardener] 04/12/2017 18:50

F.......K more tied up money for more jam, then a further project and profit finds another home to invest into.

[laurence llewelyn binliner] 04/12/2017 16:53

The quickest way for Astor to get paid #Onions is for us to scale up as fast as possible and then spin off the free cash to pay them..

No BOD in their right mind would take on interest carrying debt to pay someone when you don't have to, the high court ruling we have in place already sets the legal precedent for us to go with equity, and off takes..

The business case and investment rate of return for scaling up is geared to the Copper price, but ranges 34-70%..

All our advisers, legal team, and II backers have been through their due diligence over many months, and concluded this is the right path for the company to maximise returns, and yet you think otherwise..?

I take some comfort from knowing you are not on the BOD with your master strategy :o)

[mronions] 04/12/2017 16:36

a Hedge Fund holder, would sell at 169p , free put .

As can buy back at 169

I just think ATALAYA are going to get a hiding next round in Court
- and they know it
- but trying to make a run on the money


If you want ATYM shares you will get them lower

[waterloo01] 04/12/2017 15:51

reba, you have been saying that since the share price was 80p.

I think it highly unlikely that Astor will try and stop the raise, as they have no grounds, it doesn't disadvantage them (the opposite) and it would play very badly with the judge if they are seen to be trying to stop ATYM doing what it should do.

Will the book-build end early?

[waterloo01] 04/12/2017 15:05

Note from the presentation thy are half expecting Astor to try and stop the raise.

Current position
 On 25 April 2017, Atalaya and Astor applied for permission to appeal to the Court of Appeal. Astor was granted
permission to appeal in relation to whether the Deferred Consideration has been triggered. Atalaya was granted
permission to appeal on whether the Deferred Consideration is payable at all and whether it is restricted from
making payments in the interim. The Appeal will take place in May 2018.
 There is a risk that Astor will apply to the court claiming that Atalaya is not entitled to raise funds until the Deferred
Consideration has been paid, and seek an injunction and/or damages. The Company has been advised that such an
application would be unlikely to be successful, and would therefore vigorously defend its position, but there can be
no guarantee of any particular outcome.
 There is a risk that the raising of funds through an equity issue could adversely affect the Appeal to be heard in May
2018. The Company has received legal advice, which supports the Company's view that the risk of any such adverse
effect is small.

[laurence llewelyn binliner] 04/12/2017 14:48

The share price will hit the placing price, and probably today, I'm waiting for it to do so and we PI's can buy on the open market.. the II's will mop up the rest I'm sure with 72% pre-subscribed to, with our Cornerstone investors all holding their % pro-rata positions..

Plenty of upside in scaling up the project capacity, and earning potential .. :o)

[husbod] 04/12/2017 14:45

Don't know about being an Institution V11 but certainly should be in one! Thanks for correcting my misunderstanding - I sped read the RNS on the train this morning and didn't link the existing shareholders to the Institutional bit.Oh well we've all been complaining about the lack of institutional investors so now we have some more ...... hopefully.I'll have to use those funds elsewhere although it might be worth buying us on the pen market if the share price subsides further - should be a bounce if the placing is fully taken up.

[v11slr] 04/12/2017 14:21

How are you partaking Husbod? Are you an institution? This placing isn't open to members of the public.

[husbod] 04/12/2017 14:03

I would have thought that the fact that the big shareholders are prepared to put their hands in their pockets at £1.67p is quite a good sign.I know some of them are getting other benefits but these companies are not renown for pouring money down the drain so far as I am aware.I don't think it's unreasonable to assume that they see upside at that price which, at the end of the day is not much of a discount to the share price.I'm partaking just to round up my holding and am interested to see if I get my full amount.

[mronions] 04/12/2017 13:37

just think management not actin in our best interests

- we should have cleared astor
- raise debt finance

- we could have 50% gearing easy

not raising capital at 5.57p old money

this al works if copper stays high

we get ruined (we shareholders) if copper drops and incremental spend on expansion

IMHO we are now going to get slaughtered in courts, ASTOR has won , we need to find the money
- another £40m share sale ?