Atalaya Mining Share Discussion Threads

[husbod] 23/3/2018 11:33

Could be an excuse to come up to the big city.Very large number of apparent sells today (perhaps someone with L2 could comment on that) and yet the share price has gone up a tad. Certainly suggests something in the background.

[laurence llewelyn binliner] 23/3/2018 11:30

After the High Court ruling we've got, where is the appeal being heard..?
Does it go straight to the Supreme court, or is there an appeals court 1st..?

[waterloo01] 23/3/2018 11:20

Always interesting times! I might try and attend the 1st and last day of case if I'm around. Was very instructive last time.

[shortarm] 23/3/2018 10:38

Can sell 15K at 212.00....The price is going up and still the impatient ones sell - the buyer is still there!!Hope you all buy them back much more expensively!!

[laurence llewelyn binliner] 23/3/2018 10:25

#wateloo01, yes the brokerage fees..

Exclusive agreement to provide agency services to Company on all concentrate sold
For the first 932,000 dmt concentrate sales a base marketing fee of EUR11.25/dmt of concentrate sold is payable plus additional escalating fees dependent on copper price
For the remaining balance of 1,438,000 dmt of concentrate sold a commission of EUR22.50/dmt is payable..

Interesting, and a coincidence that all these fees rolled up add another EURO43M over the current 43-101 LOM..

I can see a settlement coming, and the brokerage fees going away if we pay Astor off, possibly in shares so they get some dividends instead of royalties..?

[waterloo01] 23/3/2018 10:02

I think we went over the judges statement that day in court SBT. I very much doubt they will get away without paying ASTOR their 45m euro odd, but key is on ATYM's terms, ie over some years. Personally I'd be happy to pay them the full amount in one go, IF they alter the marketing terms so we could be rid of them once and for all

[superbobtaylor] 23/3/2018 09:55

I think that whatever the outcome ATYM have achieved their primary aim. That was not to make any payments until the company balance sheet is repaired and profits are coming in to easily cover the repayments.

If we had started payments according to the original schedule the balance sheet would still in bits.

SBT

[husbod] 23/3/2018 09:36

LLB - methinks Astor's lawyers and possibly their insurers (lawyers are supposed to notify their insurers when they become aware of a possible negligence claim) had no choice but to appeal but as we endlessly explored at the time of the original court case the wording of the relevant clause is pretty clear cut.FWIW I think Astor will fail - it is the success or otherwise of our counter appeal that interests me.The original judge may have stretched interpretation in order to soften the blow of his primary finding against Astor and it seems to me that we have a pretty good chance of winning the counter appeal as well.But I would say that wouldn't I!

[superbobtaylor] 23/3/2018 09:17

This is now the place to be! Stocks falling everywhere but AYTM holds steady. Not so many posts from ex-holders at the moment.....

I have to say I feel really sorry for SmallHolding who appeared to sell just at the wrong time. He was a fantastic resource on the company for so many years before he threw in the towel. I hope he has reinvested well but not too many stocks have outperformed AYTM over the last 6 months.

Ironically many posters sold up after the placing but I believe it has been the catalyst for share price appreciation. The full year results should put us on the radar of quite a few filters: growing EBITDA, low PE, low net debt

SBT

[laurence llewelyn binliner] 23/3/2018 08:48

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.

I can see why we are going to appeal, it's high stakes rewards, sharp practice or not, both parties signed the agreement, and the clauses have not been triggered, so a claim against Astor's lawyers for incompetence 'aka professional negligence' could be their result..?

[stuartc2015] 23/3/2018 08:46

Thanks very much Waterloo, and Clive for the heads up about the article. It Does sound a little vague but it’s all good PR whilst we wait for the imminent updates. I’m most pleased that we are holding above £2 (a lot of people’s breakeven I think, including my own) whilst copper is taking a bit of a hammering this week.

[superbobtaylor] 23/3/2018 08:36

Great to see that after the placing we are now considered a company with a "robust" balance sheet. I really think that the full year results will make for good reading.

SBT

[waterloo01] 23/3/2018 08:13

Tip of the week but not nearly as detailed as could be. While says has robust balance sheet, it doesn't make much more of the fact that Astor aside, they have no debt. They also have the outstanding Astor debt wrong @ 69m euro (unless they are including the marketing money)

Still nice to see.

[waterloo01] 23/3/2018 08:10

With prices for its main product well supported, there’s a lot of sense in backing a copper miner with growth options, strong institutional shareholder support and a robust balance sheet. Buy.

Last IC View: Sell, 175p, 8 Sep 2017

[stuartc2015] 23/3/2018 08:07

Hi Clive, would you be able to copy and paste the article, or the key just of it please? I no longer have full access to IC and it looks like it’s their tip of the week, so I’m really interested to see what they are saying. Many thanks.

[clive205] 22/3/2018 22:26

Tipped in this week's Investor Chronicle:



(Subscription needed)

[estienne] 22/3/2018 14:11

DOW heavily down over the last few days and FTSE down 95 but ATYM holding

[superbobtaylor] 22/3/2018 10:13

Thanks for flagging this up Waterloo1. I am, like LLB, a bit surprised by XGC selling their offtake rights as I thought that was why they bought in the first place. I wonder if it is a related party transaction?

On the face of it certainly good news though.

SBT

[waterloo01] 22/3/2018 08:27

They sold them to a 3rd party (not Traf). Not sure when they did this but might well tie in with the share price increase and strength.

[laurence llewelyn binliner] 22/3/2018 08:26

#waterloo01, but have the off take rights been sold on or bought back by the company..? XGC are a Copper company, I can't see the logic in them giving up their discounted Copper rights..? unless they have sold them on for a profit..?

[waterloo01] 22/3/2018 08:10

They are getting much more active locally. They have opened a shop front to answer locals questions about the plans and Alberto is on the ground doing interviews etc.

Very encouraging on the back of latest presentation. The change in off-takes I think is significant in aligning shareholders interests.