Atalaya Mining Share Discussion Threads

[mronions] 05/12/2017 13:34

#LaurenceLL ... they should be selling Co at (5.5) 167 because it is theoretically worth a lot more.

Well managed companies would raise money via equity when stock is valued more correctly to reflect future value

We are selling at levels vs our valuation that would suggest we are distressed . Broker valuations at 290p and we sell at half that.

If they know about the copper, announce it. Let the stock revalue and invite new shareholders in at a better price.

However, our core shareholders don't want that ... not interested in having new shareholders paying a fairer price ... they want to keep full control, and thus give us the money at a price to minority shareholders.

It is wrong.

We are not distressed. We do not need to raise this money at this level.

We are a subsidiary of Trafigura.

Alberto not acting in shareholder interest, he should resign.

[laurence llewelyn binliner] 05/12/2017 13:20

#Onions what part of selling 20% of the company for EURO 39M to get a 10 year ROI of EUR 280M EBITDA doesn't make sense to you..?, and we will still have the plant at the end of it for nothing...

[mronions] 05/12/2017 13:05

stock trading sub 167p ... and I am not surprised .

Management in the hands of Trafigura

Need to raise more money for expansion (pre confirmation of resource upgrade)

Astor bill to pay

All our copper will be handed over in off take to same core shareholders who are buying us on the cheap

[cflather2000] 05/12/2017 12:35

Thanks for explaining mr O

[mronions] 05/12/2017 11:59

@cflather

for long term shareholders pre consolidation of 30 shares to 1 ... so this stock was trading 10p or 300p pre mining permits and copper sub 300 .

Then Trafigura arrive.

Stock has mining permits , copper > 300
- but all our copper is in off take
- we are fiddling our books so we don't pay Astor
- we are selling of the company pre-resource upgrade at 5.67p (167p current share price).

Why would the company invest in expansion pre resource upgrade

If they know there is additional copper why dont they tell us and sell the shares at a revalued price ie 10p = 300p which would be a fairer valuation

Instead they continue to line the pockets of our core shareholders not only in equity, but via additional off take agreements to come

its a poor pattern of not looking after minority shareholders

Trafigura, Orion Chinese not so interested in the equity revaluation ... it is just an easy way for them to stay at the table and dictate to the company what to do

[langostino] 05/12/2017 11:56

MrO is largely right. This is absolutely a case of Trafigura running the company as a subsidiary.

[rileyma] 05/12/2017 11:48

Pre consolidation

[cflather2000] 05/12/2017 11:47

Mr Onions,Where's the 5.5p figure from?

[shortarm] 05/12/2017 11:15

A for effort Mr Onions...When will you panic and buy them back.....? :-)

[mronions] 05/12/2017 11:08

Astor must be super pleased : and is likely to win on appeal, so additional liability.

ASTOR + additional expansion funding

= another $100m and I bet all funded by giving shares to sub 5p to core shareholders

stock is going no where ... a wall of stock is coming

[mronions] 05/12/2017 11:05

new investors need to be aware of Trafigura history in EMED / ATYM. The games and claimed interference. Here we are again , seeing decisions taken only in the interest of core shareholders who are really only interested in their off take agreements. Don't think any of the additional copper that is mined will be in the hands of ATYM ... will all be signed away to Chinese , Orion and Trafigura.

[mronions] 05/12/2017 11:02

how can you lot be happy that company is raising equity at 5.5p ? makes no sense. Their only reason is because they are playing a legal came to avoid paying ASTOR money which they owe.

Core shareholders are raping this company.

[mronions] 05/12/2017 11:01

so they effectively sell 20% of the company at 5.5p
- when there is potentially resource upgrade (which clearly core shareholders may be in the know)
- a responsible company would have waited for the update then raised money at a price that is more reflective of value
- all said this move is likely to hand victory to ASTOR
- yes , we could have borrowed the cash and payed astor + expansion all in one rather than sell company at 5.5p
- then there is question of addition funds that need to be raised ... need $80m ... we are likely to sell off all that extra copper we will be processing in off take , so again nothing for ATYM. Also likely to raise more funds through equity, especially if Astor still on appeal.

I almost think management need to get slapped by ... ATYM will then be punished by market , needs more cash for additional expansion ... more equity .

[shortarm] 05/12/2017 09:18

I will answer your question to Reba..Yes - he will moan :-)

[laurence llewelyn binliner] 05/12/2017 09:16

EURO 80M for the PRT upgrade to 15.0MTPA, using +20% new shares for +40% earnings/profits is self fulfilling isn't it.., the balance EUR 40M needed will come from cash for off-takes plus I can see another deal with Transamine on a cash advance to be repaid with concentrate too..

A LOM mine plan in place on current known reserves through to 2029, with any other ore bodies on PRT yet to be found and modelled..

[rougepierre] 05/12/2017 09:07

Sorry MrO, but I cannot see the logic of raising 39m debt that has to be immediately paid over to Astor by triggering the clause...and at an interest bearing cost...

And golly reba...the shares went from 80p to 190p...are you still going to moan when theyre 270p...?

[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