Atalaya Mining Share Discussion Threads

[mronions] 24/9/2018 15:45

you printing twice for Shortam eyes ?

wish we could have dividend , but 1st need to clear Astor payment and then I believe Alberto was asked that during last London presentation and he kinda of shrugged and said they were more focused on expansion / investment.

We will have to see about Touro ... need copper higher.

[reba] 24/9/2018 15:03

Time we had a dividend issue for the pi's that's supported this through the last 10 years.

[reba] 24/9/2018 15:03

Time we had a dividend issue for the pi's that's supported this through the last 10 years.

[shortarm] 24/9/2018 14:36

Yeah, the four and the five are next to each other on my phone...My eyes were lasered 18 years ago - maybe I should go back but this phone is pretty small! Anyway way past 250 now

[mronions] 24/9/2018 14:31

?? 258.5 bid for 15K now ??

we may see this price , but its not 258.5 bid

where do you see that ?

thx

[shortarm] 24/9/2018 14:00

Bed and ISA? Maybe

[wanderer1210_0] 24/9/2018 13:44

31k sold off in two tranches at 2.50 and the market soaks it up

[wanderer1210_0] 24/9/2018 13:09

Must be something behind the recent price hike, Cu price up but not that substantial.

[husbod] 24/9/2018 13:02

Nice if it was Bhp or Rtz

[wanderer1210_0] 24/9/2018 12:57

Must be a huge order getting filled

[shortarm] 24/9/2018 12:40

Yup, very.

[wanderer1210_0] 24/9/2018 12:23

258.5? You sure?

[shortarm] 24/9/2018 12:05

258.5 bid for 15K nowFeel like I'm talking to myself :-)

[shortarm] 24/9/2018 10:27

246 bid now.....

[shortarm] 24/9/2018 08:50

245 bid for good volume Still a buyer behind us.....

[laurence llewelyn binliner] 23/9/2018 10:52

#TTT, thanks for that.. backs up the Arden Partners note for 316p nicely.. :o)

On financing, we could cover the PRT upgrade from cash this year and H1-2019 profits so that ticks 1 box..

Astor's EURO 53M, from H2-2019 and H1-2020 ticks another.
Touro's Capex of USD 165M (EURO 140M) from our scaled up PRT profits in 20/21/22..

It all stacks up pretty neatly with timings, so long as Copper holds around 3.00/lb or more.., but I would like to see a road map to dividends as soon as Astor is ironed out before I commit any more non yielding cash with just a +20% near term upside..

[tommyttrades] 23/9/2018 10:01

Not new ,12th Sep, from Canaccord..Flash update..
Just highlights of 6page update...Not sure how passed by,update is from 12Sep


Still on 315p BUY rating,some of the then 50% upside already in the share price now,Cana anticipating Astor decision by EOY




Strong 1H18 EBITDA and EPS driven by lower costs
Atalaya Mining (ATYM) reported 1H18 figures this morning which significantly beat our
profit expectations. Revenue for 1H18 came in at €102m, some 3-4% below CGe at
€106m. However, a very impressive cost performance in 2Q18 more than offset any topline
weakness. As a result, EBITDA for the first half of the year came in at €34m, or €8m
(30%) above our conservative forecast of €26m. Below-the-line items were relatively in
line, but tax came in at just ~15% (vs CGe at 25%), which drove EPS during the period to
a very strong €0.18/share, compared to our €0.10/share forecast.
Cash cost drops to US$1.88/lb in 2Q18
The main reason for the strong profits during the period was the significant decrease
in cash costs during the period. ATYM reported 2Q18 cash costs of US$1.88/lb, down
17% from US$2.27/lb in 1Q18. Early in 3Q18 ATYM released an updated NI 43-101 to
support the Riotinto growth project and mine life. The updated open pit reserve estimate
came out to a 29% improvement, with an over 25% reduction in strip ratio (to 1.43) over
the ~14 year LOM at the expanded output level from 2Q19. With a lower strip ratio, ATYM
has fully incorporated in its 2Q18 numbers the lower deferred stripping capitalisation
threshold. As a result, from 2Q18 on, we should expect to see a higher capitalised
portion of deferred stripping costs.
Strong net cash position driven by lower-than-expected capex
The 1H18 operating cash flow (OCF) line came in stronger, at just r €30m. Capex also
came in lower, at €21m for 1H18 vs our €30m forecast. Together this resulted in net
cash of €51m at the half year, vs €43m at year-end 2017. However, with copper pricing
in 2H18 already more than 10% below our forecasts, and a greater portion of capex to
come in 2H18 (instead of 1H18 as we expected), we remain cautious on cash generation
in 2H18. For now we are maintaining our conservative net cash forecast of €33m for the
year.
Atalaya holding production and cost guidance for 2018
Despite the strong 2Q18 production of over 10kt implying an annual run rate of over
40ktpa, ATYM management is maintaining guidance at 37-40kt of contained copper
production in 2018, vs CGe at 38.6kt. Cost guidance has also remained intact at US
$2.15-2.30/lb, despite a very strong cost result in 2Q18. This could hint at greater cost
volatility through the remainder of 2018 than 2Q18 cost levels imply. We also maintain
our 2018 cost forecast at US$2.25/lb, which is on the upper half of the guidance range.

BUY rating and 315p target price look well supported

We continue to see Atalaya as one of our top copper picks for 2018, with attractive
upside to our 315p target price of ~50%. ATYM also has a strong growth profile in the
near term with the expected delivery of the Riotinto growth project by 2Q19. We also
believe that ATYM has a strong derisking profile in the near term compared to other
miners, as we anticipate the decision on the Astor lawsuit by year end 2018. We think a
decision on Astor should subsequently result in greater visibility to ATYM financing going
forward, including financing options on the Touro project over the coming year.

[laurence llewelyn binliner] 21/9/2018 17:40

Strong week for Copper and ATYM... very nice recovery indeed..

#RP you did well at 202.5p.., good call while Copper was USD2.60/lb..

But we still await the Astor ruling and the impact thereof, 4 months and ticking.., I just don't know if this will be such a big deal when it comes, or if it's priced in.., we know we owe them the money, it's just payment terms/period now..?, and any possible penalties..?

Some upside to 300p now but it's not huge is it at +20%..?
Any new broker notes out there...?

[rougepierre] 21/9/2018 17:22

SOLG closed at almost a 1 year high...

ATYM at a more than 2 month high...

Sadly for gcpinc, ZIOC back to the 'multibag' recommendation level...

Ho hum...mercurial markets...

Copper back to its 4th July levels...

GLA...

[rougepierre] 21/9/2018 14:48

This may explain a lot....Shanghai copper debut hit 70% of LME trading volume on its first day...Trafigura buying January calls....



How long before ShFE Gold leads Chicago and London...?

[rougepierre] 21/9/2018 12:21

There is no way on earth there will be a 'no-deal'...

May and EU are playing chicken...the thing is, having prepared for no deal May doesn't have to blink...

And Europe are running scared of a Boris Premiership post March 2019...

So they need to give May a deal in November, otherwise its WTO from March...

AIMHO as usual

[lanty33] 21/9/2018 10:52

Quite right Husbod.Enough of their games to try to rip us off. Just tell them

`ok we are leaving!`Then see them change their stance!

ATB l33

[husbod] 21/9/2018 10:03

Well I must say I expected our market to be down this morning after last nights Brexit debacle and the increased likelihood of a no deal exit. What happens in that event is anyone's guess including the exit of Mrs May but the market seems to be very sanguine over the matter. Oh well sod em - let's just leave and then see what happens.

[simon_carter] 21/9/2018 09:35

Back in here again a few weeks ago after selling out earlier in the summer. Let's see if we can push on through this 2.40 level with a rallying copper price .GLA

[mip55] 21/9/2018 08:49

A weaker US currency provided broad support to the SHFE base metals this morning; the dollar index stood at 93.91 as at 10.13am Shanghai time, compared with 94.48 at roughly the same time on Thursday. Overnight, the index had dropped as low as 93.80, its lowest point since early July.In addition, greater positivity in the market stemming from a perceived easing of global trade tensions this week continues to give base metals prices some lift."China is reportedly planning to cut tariffs on a number of imports from most of its trading partners from as early as October. This is a move that should not only prop up Chinese domestic consumption (in the face of rising import prices) but could also offset some of the negative global demand impacts of the US-led trade friction," ANZ Research noted on Friday.This comes after general relief in the market that fresh tariffs in the tit-for-tat trade war between the US and China announced earlier this week were not as damaging as had been expected.