Atalaya Mining Share Discussion Threads

[robmcelf2] 19/1/2018 08:13

Hoping Sp will react to news more positively this time!!!

[erric] 19/1/2018 07:54

In the case of our fragile company, no news is good news for the share price
Unless my memory fails me,pretty well every RNS (good or poor) is followed by two or three days of falls.
Better to travel than arrive springs to mind.

[robmcelf2] 19/1/2018 07:19

I think this has been the longest stretch of 'radio silence' (no RNS) in about 2 years...must be something coming next week?

[rougepierre] 18/1/2018 15:58

That's good news then. Thanks.

[waterloo01] 18/1/2018 15:20

Next week should be interesting! Rouge, you're not correct re VILX (See explanation posted) but the price moves independent of buys/sells on VILX as is driven by different index's.

[laurence llewelyn binliner] 18/1/2018 14:50

#RP, news imminent.., and we are sailing into a pretty good storm with a c$1/lb EBITDA margin..

2018 AISC $2.10/lb
Copper $3.20/lb
Payable Copper $3.00+
88M Lbs of Copper
$80M EBITDA, unless Copper goes higher... :o)

[rougepierre] 18/1/2018 13:48

Anyhow, back to ATYM...

The 2016 Operations update was on 17 January 2016...

So, expecting something soon...?

Maybe it's being held back by a Resources update?

On 6 June, Alberto wrote about Proyecto Toure...

"Resource and reserve estimates are also at an advanced stage with results to be released as part of an NI 43-101 compliant technical report in due course."

On 7 September, he wrote about Proyecto Toure:

"A technical report is at an advanced stage of development and is expected to be at a pre-feasibility level. Completion is anticipated during Q4 2017."

And

"As previously reported, two important milestones have been achieved at Proyecto Touro: the first was the successful completion of metallurgical test-work which has demonstrated that high grade clean concentrates and high recovery rates can be achieved. The second was the completion of 26,557 m of exploration and in-fill drilling which will provide the basis of an NI 43-101 technical report.

The technical report is progressing ahead of schedule and is at an advanced stage of development. It is expected to be at a pre-feasibility level of detail in the near future, with completion brought forward to the beginning of Q4 from the original estimate of the end of FY 2017."

And about PRT:

"In June 2017, the Board of Directors of the Company approved the commencement of a study to demonstrate the feasibility of increasing the mining and processing capacity beyond the current 9.5 Mtpa to a maximum of 15.0 Mtpa."

And

"Near-mine exploration drilling continued from the previous quarter with a programme to test the lateral extension of Filon Sur. With the programme now essentially complete the exploration block model has been updated with results to be part of the resources and reserves update that will form part of the studies related to the Expansion to 15 Mtpa Project.

In-fill drilling exploration at Cerro Colorado was mainly centred in the north-western extension of the pit where better than anticipated mineralised intervals and grades have been discovered. This campaign is targeting inferred resources with the objective of increasing confidence levels and potential reclassification."

On 12 October he wrote:

"Near-mine exploration drilling has turned its focus on to the north-west extension of the Cerro Colorado pit now that the east-west extension of Filon Sur has been completed. The exploration block model has been updated with results which will be part of the resources and reserves update that form part of the studies related to the expansion to 15 Mtpa Project.

Exploration has initiated during the quarter an airborne VTEM geophysical survey to help further understand deep geological structures in the mining and exploration concessions of the Company."

And about Proyecto Toure:

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

An exploration campaign was initiated during the quarter over the newly optioned exploration concessions around Proyecto Touro. The campaign includes an airborne VTEM geophysical survey, detailed assessment of structural geology and a regional geochemical campaign."

And on 4 December the approval for expansion of PRT was announced, so...

Are we about to be hit with a multiple 'whammy' of good news, including:

2016 Production and an inference of
Financial performance for 2016, plus
NI43-101 for Proyecto Toure, plus
Updated resources for PRT...

In which case it could be goodbye £2.00 and onwards towards £3.00 and redemption for you courageous LTHs here...

AIMHO as usual...

[rougepierre] 18/1/2018 13:30

Fantastic article waterloo...unfortunately I'm already fully loaded in ATYM, but I have added more SOLG (and will probably add even more).

Re VILX; zho and waterloo...you may be missing a couple of key points:

It's a VOLATILITY index, so there is not a direct correlation between it and the S&P, either way; but there is a correlation with the Beta of S&P.

So what we actually want is more fear of the S&P falling, leading to:

1 funds/savvy investors looking for a hedge...VIX (VILX) is one;

2 US markets have started to gyrate more, as sellers emerge and some bargain hunters snap up stocks. So the S&P zigzagging more equals greater volatility...

But in any case, like the price of ATYM, the price of copper, the price of anything, it tends to go up when more people think it will go up than down; thus more people buy than sell....

So, while there is a scientific underlying basis for the value of VILX, directly related to VIX and the volatility of the S&P, you still need buyers in VILX for it to go up...

Another good example is GPM. Its net asset value (based on the world class precious metals companies it is invested in) is 41.36p, but you can still buy it for 36p...

AIMHO as usual...

[sirmoori] 18/1/2018 10:30

"While you can shut down a mine in weeks, it can take years to bring them back on line." How apt!

[superbobtaylor] 18/1/2018 09:20

Thanks for that link waterloo. I will follow that blog going forward.

I await a company update with baited breath! I hope it is more than just the amount of rock crushed this Q.....

SBT

[laurence llewelyn binliner] 18/1/2018 08:59

#waterloo01, rolling at 9.5/15.0MTPA, that will spin off some proper profits, and deal with Astor ahead of dividends.. :o)

[waterloo01] 18/1/2018 08:11

Shovels and all that but yes agree, think we are in the early stages of a bull run in copper. Expect to see it test $4.60 high over the next 12-18 months.

[erric] 18/1/2018 08:04

Great article, Waterloo, mostly because it’s an outsider agreeing with my optimistic viewpoint on copper stocks. Interesting point on demand for heavy capital equipment in USA as well.

[waterloo01] 18/1/2018 07:37

Swiftly buying cheap companies based on valuation in the commodity sector could see upward momentum in the price action.

Buy industrial commodities on copper strength.

[waterloo01] 18/1/2018 07:23

Rio Tinto halts shipments from Mongolia mine after tax, border disputes

[zho] 17/1/2018 18:01

Off topic

rougepierre,

re VILX, I've got it now. If you're interested I've posted on the VILX thread.

[erric] 17/1/2018 13:40

As I have promised myself to be more optimistic during 2018 across a whole range of things, I am more than encouraged that a “significant” drop in the copper price did not adversely affect the share price

[waterloo01] 17/1/2018 11:12

Indeed. This should be up 45% today (VIX up 15% last night) but is only up 2%. Clearly it doesn't do what it's supposed to.

[zho] 17/1/2018 10:55

rougepierre,

waterloo01 and I were wondering why VILX has failed to respond to a spike up in VIX last night. Any ideas?

[scargs] 17/1/2018 10:54

Yes, there is some selling. However there is no doubt that these small sales are being mopped up, on a daily basis, by a willing buyer.

Already today two separate 25,000 buys.

Scargs

[rougepierre] 17/1/2018 10:48

Copper weaker...?

[saintb] 17/1/2018 10:39

Are the charts to blame?. Some investors follow the charts avidly. On Monday some charts were posting a sell guidance for Atalaya and sure enough, on Tuesday!

AIMO, of course.

[laurence llewelyn binliner] 17/1/2018 10:36

The Q4 numbers were 17.01.2017, so hopefully we will get some news this week.. and/or the Touro 43-101..

[waterloo01] 17/1/2018 09:34

No idea. Probably some more stale bulls? Can't find any news (apart from some environmental lobby stuff against Touro). Guess the delay in releasing Touro update might have something to do with it.