Atalaya Mining Share Discussion Threads

[mronions] 23/1/2018 13:59

I brought this up at time of placement , what VAL said . Any update ?

- only feedback from the STROKER on the other thread

15 M or Project Aguila is a crazy expansion based in a reduction in feed grade and life of mine through a feasibility study validated only by the CEO and the Chairman without any independent assessment or new reserves including a new NI 43-101. Why?
More volume but less value. Sincerely astonishing and showing once again that the project is controlled by the corrupted contractors and the offtakers, the only beneficiaries of such expansion. More tonnage and more waste to move at inflated costs and controlled by the head of the gang and more concentrate to be moved and handled through Trafigura Terminal and bought by off takers at huge discounts through one sided QP terms.
For your information, Mr. Lavandeira was the best man in the earth movement controller’s second wedding.

[mronions] 23/1/2018 13:56

Could we be in for a massive resource upgrade ?

why look at a secondary crusher then ? makes no sense

are they thinking of building a complete new main crusher ?

- PLEASE CORRECT ME IF I AM WRONG

[mronions] 23/1/2018 13:55

I have been off this thread , nice to see Stockback

and the Charmer !

[gcpinc] 23/1/2018 13:14

Well can we see off 187p ?

[shortarm] 23/1/2018 11:20

Rising in the face of relentless 10K sells probably from our old pal....

[laurence llewelyn binliner] 23/1/2018 08:45

#Estienne, the Q3 numbers were achieved using some sweeter grade Ore blend which came in at 0.58% and 10,698 Tonnes, in Q4 we went back to the normal 0.49% ore which produced 8622 Tonnes..

This ensured we made a small (E2.5M) profit in Q3, and also would have proved out the Tonnages we can achieve with the better Ore blend.., strategy going forward will be to keep hold of your best grades to sell into the stronger prices, save it for $4+ Copper .. :o) totally agree here #RP..

Q3 AISC margin was $0.33/lb
Q4 AISC margin will be c$0.60/lb and we will make a good profit on our base grade Ore c$11M EBITDA..
Q1-2018 AISC margin will be c$0.85/lb/E16M EBITDA

[rougepierre] 23/1/2018 08:42

Pathetic oversimplistic lazy analysis by an anachronistic magazine...whats wrong with leaving some ore in the ground when copper prices are forecast to go much higher. Soundly managed Alberto...way to go sir!

[estienne] 22/1/2018 20:10

From Investor's Chronicle

Despite higher prices, investors in Atalaya Mining (ATYM) may be disappointed with this morning’s fourth quarter trading update. Copper production from the Riotinto mine dropped 19 per cent compared to the three months to September, and 3.5 per cent year-on-year, even if 2017 output sits within the 37,164 tonnes guidance for 2018. Costs, largely denominated in euros, could increase marginally against the currency’s strong performance against the dollar. Shares are down 4 per cent this morning

[tommyttrades] 22/1/2018 18:05

Canaccord update out..

still on 260p target & Buy Rec.

few highlights (7 pages total)

Ore milled for the full year 2017 once again beat our forecasts, coming in at 8.8mt vs
CGe at 8.7mt. Head grades for the year came in at 0.49% vs CGe at 0.51%, indicating a
seasonally lower grade in 4Q17 like last yea

Higher operating cash cost guidance for the year
ATYM management restated its cash cost guidance for 2017 to US$2.05-2.20/lb, up
5% from the previous guidance range of US$1.95-2.10/lb. The revised guidance leaves
our 2017 cost forecast of US$2.04-2.05/lb at the lower end of the restated range, but
is in line with our 2018 cash cost CGe of US$2.08/lb. Detail on the higher costs will be
released at the time of ATYM's financial results, but management did state the €/$ rate
as one driver of the cost inflation during the period. Realised pricing for 4Q17 came in at
US$2.87/lb compared to CGe at US$2.95/lb
.
Riotinto growth project continues progressing in 1Q18
Management stated that near mine exploration continues at the Cerro Colorado pit
including both infill drilling and work at the north-west extension. An updated reserves
and resource statement is being prepared for Riotinto with results from the airborne
survey expected in 1Q18. Management also confirmed that purchase orders for long
lead items have already been issued, in keeping with a tight timeline to incremental
Riotinto production planned in 2019


Touro progressing with permitting on track
Atalaya also gave a brief update on Touro, noting the permitting process for Touro is
continuing according to schedule, with suggested amendments underway. The NI
43-101 technical report is substantially completed and should be released when the
amendments have been incorporated to allow final permitting of the project. An airborne
geophysical survey has also been completed at Touro, with results due back in 1Q18.


Valuation
Our 260p/C$4.20 target price is based on our weighted average valuation including a
longer term NPV analysis (10% nominal discount rate and now fully including the liability
for the Astor lawsuit) as well as shorter term P/E and EV/EBITDA based valuations.

[erric] 22/1/2018 18:02

Amazing. 280,000 shares traded, mostly sales, after an uninspiring RNS And still the share price only dropped just over 2p.
I’m in danger of expecting £2 once we’ve got rid of the short term sellers.

[simon_carter] 22/1/2018 17:32

Another big chunky buy reported after the close (33k)

[stuartc2015] 22/1/2018 15:38

Thanks very much RP.

[shortarm] 22/1/2018 15:26

185.1 paid!?

[husbod] 22/1/2018 14:23

It would be interesting to see what the three grounds were that were rejected and also the remaining grounds.

[rougepierre] 22/1/2018 13:39

From the Q3 Results:

"On 25 April 2017, Atalaya and Astor applied for permission to appeal to the Court of Appeal. On 11 August 2017, the Court of Appeal granted permission to both parties to appeal (although it rejected three of Astor's seven grounds). The Appeal is anticipated to take place in May 2018."

[erric] 22/1/2018 13:19

Both sides are waiting for court time in their appeals.
Check out the latest report to see the company view.
Www.atalayamining.com

[stuartc2015] 22/1/2018 12:54

Can someone please remind me if we have a specific timetable for the final Astor decision/settlement, or is it just simply due at some point in 2018?

[laurence llewelyn binliner] 22/1/2018 12:50

A maiden dividend #RP, now you're talking about what I'm here for.. :o)

Astor will need to be paid and they should be too, we've kicked the can down the road for a while now and 2018 profits should/could take care of that problem opening the door for us in line with the ruling in 2017..

[erric] 22/1/2018 12:49

It’s definitely interesting to see so many sells go through and yet the price either holds or appreciates, possibly to encourage more sellers. You always have to be cautious with our little toddler but at the same time not forgetting that the main brokers following this share all have targets more than 50p ahead of here.

[rougepierre] 22/1/2018 12:26

Now THAT'S belief...look at those stonking buys...methinks institutions can't get enough of these now...wait for the Analyst revisions....

Current consensus 2018 EPS is 27.27p...surely if there is a reasonable ASTOR settlement we're looking at a maiden dividend...?

AIMHO as usual...

[superbobtaylor] 22/1/2018 11:58

Yeah thanks LLB

[rougepierre] 22/1/2018 11:46

Ah...thanks LLB...elementary...

[rougepierre] 22/1/2018 11:46

Thanks waterloo...slip of the thumb...but the end result is the same...

Meanwhile, nobody seems to have spotted that the Market Cap is £50 million greater, i.e. 25% more than before the £31m placing...£19m gain...

That's some achievement and shows strong underlying belief by shareholders...

For comparison, SOLG's MCap is only £25m bigger, i.e. 5% despite a £45m placement...£20m loss...

AIMHO as usual...

[laurence llewelyn binliner] 22/1/2018 11:46

3000 Tonnes of 'Concentrate', containing c600 Tonnes of Copper, 1.3M/lbs / with a value of $4.25M EBITDA ..?

[superbobtaylor] 22/1/2018 11:37

re. the stock the numbers are still correct though. Circa $20M worth when sold.

Last Q the inventory was reported at 2,000 tonnes wich was valued at $9.4 million.

So the inventory in the Q4 numbers will be around $14M. i.e. The cost to produce the stock. A good way to keep a lid on earnings whilst it is beneficial to do so.

SBT