Atalaya Mining Share Discussion Threads

[cflather2000] 21/5/2018 22:29

Thanks Waterloo. Hold CAML, think they look solid. Been looking into ARS and they seem to have a good resource. Decent concentration of cu as well. Very early stages for me though.Must say I prefer ATYM to CAML because there's a good chance of the cu price increasing. ATYM is higher volume but lower margin at present. An increase in the price of cu of $1/lb doubles ATYM's operating profit, or there abouts, whereas it's a far smaller increase for CAML

[gcpinc] 21/5/2018 14:56

SML and JLP worth a look. If you are interested in oil look no further than 88E but you will have to be quick !

[waterloo01] 21/5/2018 09:18

Lot's of explorers such as ARS and HZM but producers probably CAML

[cflather2000] 21/5/2018 08:57

What other copper producers do people like here? I have as much in atalaya as I dare. I want another mining play. I think copper will do well, but open to anything really.On another note, I was considering all the protectionism we're starting to see in the world. How many copper producers are there in the EU? Can't be many. Could be good for atym if BMW start churning out electric batteries!

[reba] 21/5/2018 08:43

Anyone in SAV seems to be moving nicely

[mip55] 19/5/2018 07:52

May have to wait a further week for Q1 LLB, week commencing 28th May according to their website.....hopefully some good news might leak before then!

[laurence llewelyn binliner] 17/5/2018 12:23

Q1 financials next week while we wait for the Astor ruling ..., and the USD/EURO is now almost 1:0.85, up 5% in our favour for Q2... :o)

[rougepierre] 16/5/2018 10:01

hi waterloo...bought my last tranche at 6.05p...

dollar far too high

far too much geopolitical risk around

the key factor is that liquidity in US markets is declining rapidly.

Once people start to try and sell stocks in a big way, volatility will move up smartly and, with Goldman and a growing number of major players talking up commodities, that will work very well here...except...

The copper factor has to override the equity decline factor...

All in all this still looks like excellent long term value...

315p target is more than four times the price some of us were buying at and being derided for...

I'm so glad that all you patient long termers can look at net capital appreciation and surely dividends in the not too distant future...

AIMHO as usual...

PS given the Astor 'debt' won't be written off, I still think the MMs will try to bang down the share price when the judgement comes (buy on rumour, sell on fact...) Could be a short term buying opportunity...fingers on the trigger...?

[robmcelf2] 15/5/2018 21:56

Actually I wonder if a further appeal can go to the Supreme Court after this Outcome if one of the parties isn't happy? Anyone know?

[robmcelf2] 15/5/2018 19:58

So in the first hearing atalaya acknowledged court case had been heard as of 3rd Feb. The next announcement with verdict was 6th March.I'm really hoping it won't be that long this time around given that the appeal judges should already be familiar with the initial arguments presented first time around...Any takers for an appeal outcome to be announced next week or am I being way too optimistic about how fast the wheels of justice turn?!

[shortarm] 15/5/2018 12:01

People are selling and the bid goes up...What does that tell ya?

[erric] 15/5/2018 11:29

A couple of months for the judge to pretend it’s a really difficult decision is my guess

[reba] 15/5/2018 10:41

When is the result of the Astor case due

[husbod] 14/5/2018 14:19

Surprised they didn't mention copper slug coils but I suppose Galicia may not have the same gastropod problem on account of its drier weather.Espagna does seem to be getting its economic act together more than in the past so hopefully all the many plus factors for the local economy and indeed the environment will win the day. Indeed, without wishing to tempt fate it is inconceivable that the consents will not be forthcoming imho.

[waterloo01] 14/5/2018 12:42

And more....

Galician mining will be key in the economic decarbonization
Copper is a material present in a large number of equipment used in renewable energy installations; the community can help reduce the external dependence on raw materials

FERROL / LA VOZ 05/13/2018 05:07 AM
Galicia is a power in key and irreplaceable minerals for the development of new technologies and is called to play a key role in the decarbonization of the economy, due to copper stocks. This is an essential material for the manufacture of equipment used in facilities for generating clean electricity, such as grounding systems, cables, motors, transformers and all types of electrical and electronic components.The equipment of all renewable energy sources such as solar, wind, tidal, hydroelectric, biomass and geothermal. In the sector, it is emphasized that copper works as the best thermal and electrical conductor among the metals used in infrastructures and in the design of equipment. By transmitting energy more efficiently, greenhouse gas emissions are reduced and life cycle costs are also optimized. This is why Galicia can be one of the regions where the EU's strategy is based on reducing external dependence to obtain the key materials for renewable energy installations, which are decisive for the economy of the future.However, copper is present in many other equipment, such as computers, microprocessors, automobiles, trains, airplanes, space vehicles, building wiring, water and gas pipes, thermal systems, musical instruments and electronic equipment, among others. The consumption of this type of mineral has multiplied today for certain applications. Thus, currently, a car consumes around 20 kilos of copper, twice the number of vehicles that were used in the 1970s. Sin embargo, en la comunidad hay otros muchos minerales que también se extraen para el desarrollo de las nuevas tecnologías. Es el caso del coltán -fundamental en la telefonía móvil, la fabricación de ordenadores, videojuegos, armas inteligentes, implantes medicinales, industria aeroespacial y motores de aviones, entre otros-, del plomo, del wolframio, zinc y del estaño, entre otros."No I can deny that, from tempos inmemoriais, to mining is linked to Galicia e ao seu desenvolvemento economic. Co use of Tin na Idade de Bronce, from other Roman poles and, ata finais do século past, of tungsten, ferro e chumbo, among others, to minaría marcou or devir of diverse concellos », remembers Juan de Dios Martín Aparicio, president of the Official Chamber of Mineira de Galicia, in his speech on the activities report of last year. «E a pedra, traballada poos nosos canteiros, esculpiu o noso historical and cultural heritage, but also our homes, infrastructures and means of communication. Non to understand paisaxe galega sen or granite, arid, to lousa ou a tella. Materiais that gives us terra e cos that we want to explore a modern industry that leads or world market, "he added. In figuresThe Galician extractive sector is formed mainly by about 290 small and medium enterprises that in 2014 -the last year with updated figures- generated employment to support around 5,000 jobs. The companies belonging to this market contributed in that year 1% of the gross domestic product (GDP) of the community. During that year it supplied the Galician company with some ten million tons of construction materials and 1.5 million raw materials for industry and the agricultural sector.By product typesBy types of extractive products, it should be noted that Galicia produced more than 71% of Spanish slab exports in 2015 and generated 30% of world production. In that same year, it produced 9.5 million tons of aggregates, 315,800 tons of clay and 17,169 tons of kaolin. In addition, it is a leader in the granite sector, with more than 68% of production and 86% of exports. The Galician granite industry is the second in Europe and the fourth in the world. As for quartz, 68% of all the mines extracted in Spain come from the mines, which in its immense majority (98.5%) are destined for export. The strategy of the European Union is to reduce the dependence of member states on imports of raw materials and the extraction of materials that contribute to fostering a competitive and future industry. According to the Official Chamber of Mineira de Galicia, the European Commission maintains that " or 70% of EU industry depends on the extraction of natural resources to grow and operate, " which translates into 30 million jobs and a volume of 1.3 trillion euros of gross added value per year. The EU has launched a master plan based on an innovation strategy that reaches all phases of extractive activity and allows access to materials that link with the aim that by 2020 at least 20% of the energy comes from renewable sources.Some 290 companies that hold nearly 5,000 jobs make up the mining sector in the communityThe exploitation of Touro is one of those that are extracting today a key mineral such as copper.

[laurence llewelyn binliner] 11/5/2018 18:13

Thanks TTT, there's a lot more to come from PRT for sure, Cerro Colorado, San Dionisio/Alfredo, Salamon, Filon Norte/Sur, Planes, San Antonio, LOM isn't going to stop at 13 years and 55,000 Tonnes PA... :o)

Now we wait for the Astor ruling..!

[tommyttrades] 11/5/2018 17:57

few more items from yesterday...

(Cant copy/paste the photos???,which is a shame as they really show some of the details,especially in regard to Touro )


The flotation circuit will also be significantly enhanced with four more 300m3 flotation
cells being added, like the single 300m3 cell added in the Riotinto expansion to 40kt.
Figure 5 above shows the significant size difference of the newer cells compared to
even the 100m3 cells in grey. Interestingly Atalaya is aiming to complete the flotation
circuit first and commission it into the existing flowsheet before the SAG mill
completion. This could add even further flotation capacity to the existing production
circuit, increasing residence time and potentially further enhancing recoveries in late
2018 and early 2019.



In both the 2012 and 2016 resource updates, reserves and resources were both
stated for the Cerro Colorado deposit alone. In the upcoming 2018 resource update,
we expect to see further resource conversion considering the ongoing infill drilling
campaign at Riotinto, and potentially the inclusion of peripheral resources

[waterloo01] 11/5/2018 14:39

Note says £3.15.

OT, if you were thinking of VILX it's trading at 6.6p. I've never seen it this low since I've followed it. Unless you think the S&P will only go one way, up, it would be an excellent buy point.

[erric] 11/5/2018 09:56

Shortarm, it depends on your time-scale.
Currently I think they are estimating fair value at 315p but if you take the longer view ( after 2019/20 ) then they are well in excess of £4 once you take into consideration increased throughput.
And all that at a base price of $3 so you can factor in your thoughts on whether copper will be closer to $4 by then

[shortarm] 11/5/2018 09:45

Canaccord note:Is the new target price 315 or 350?Anyone?

[erric] 10/5/2018 22:30

Thanks to all the contributors this week after we all seemed to take a break for the whole of last week.
All very positive again - even a score draw on the Astor judgement won’t severely dent our share price later on in the year.

[tommyttrades] 10/5/2018 17:21

Some details on that note..
Quite long & detailed, there have been site visits to Rio Tinto & Touro....All very positive noises

Can only put a few items up...

At 1Q18 ATYM was 27% complete with the Riotinto growth project, while last week
the company estimated the project at 36% complete

with copper output of 50-55ktpa as only a base case scenario
There is also the simultaneous dewatering of the Atalaya
pit which could give the company access to a higher grade
All in, we see greater
potential for cost savings and production than our base case scenario


We take the full €53m Astor liability out of our NPV (NPV of liability at €41m)
and see the Astor decision as free optionality to our valuation
We have included a discounted (11%) valuation of Touro
in our NPV for the first time given ATYM's recent release of the Touro PFS and site visit. At
this stage it adds just 20-25p to our ATYM valuation, but greater upside by 2020.



With over 30% upside to our
revised valuation and an even stronger medium-term valuation outlook, we retain our
BUY rating on Atalaya Mining. Atalaya remains our top copper pick.

[waterloo01] 10/5/2018 16:46

All with the judges now. My view is that not much will change re the current judgement. I don't think Astor made enough of a case to say monies due now, but equally the judges won't write off the debt. I suspect the cash sweep will also remain in place.

Also new Canaccord note out with £3.15 target. Includes 20p ish for Touro. As do they all they assume Astor liability stands, and doesn't include upside to LOM and a number of other specific items (reads well). Not only their top pick but with significant growth prospects in both near and medium term.

[sirmoori] 10/5/2018 14:16

Well, fingers crossed you are right. At least we should now see the end of the matter and the market has priced in the full cost, so any amelioration as a result of this case will be a plus.