Atalaya Mining Share Discussion Threads

[mronions] 26/4/2019 14:30

ATYM can't just issue a statement .. have to go through legal steps and in this case have to word correctly.

Either way mining is not stopping

and sonofvan touro boy from AGM .... Touro is advancing well .

We will make the legal re-wording to rectify everything.

This is a BUY opportunity

[mronions] 26/4/2019 14:16

someone is probably trying to force a deal on ATYM ...

[come on] 26/4/2019 14:11

Although not great news the fact mining continues shows ultimately it will get sorted, small top up in order I think

[bigdaddio] 26/4/2019 14:07

Legal Update

Atalaya Mining Plc. (AIM:ATYM, TSX:AYM), the European mining and development company, provides an update to its announcements dated 26 September 2018 and 29 March 2019.

In November 2016, the environmental group Ecologistas en Acción ("EeA") filed a claim, additional to the lawsuit filed in July 2014 related to the Unified Environmental Declaration (the "AAU"), at the Tribunal Superior de Justicia de Andalucía ("TSJA") against the Junta de Andalucía ("JdA") in relation to the mining permits (the "Mining Permits") which authorised the reinstatement of operations at the Riotinto Mine.

Although the claim on the Mining Permits was filed separately to the claim on the AAU, the TSJA has now linked both legal procedures to rule against the JdA in relation to the Mining Permits as a result of the resolution made by the same tribunal announced by the Company on 26 September 2018.

The new ruling on the Mining Permits is based on the requirement to have an AAU before issuing mining permits and therefore invalidates the existing Mining Permits. The TSJA has not accepted the requests by EeA for the cessation of activities at the mine and an increase in the scope of the environmental plan.

All the pending claims made by EeA have now been ruled by the TSJA. Atalaya continues to work with its legal advisors to evaluate the possibility of appealing the ruling and to ensure the Junta de Andalucía addresses all procedural points raised in both rulings.

The Company continues to operate normally at Proyecto Riotinto and the JdA has publically supported the continuation of the mine. An update will be provided to the market in due course.

I would have though that with the state of the Spanish economy they would not want to shut it down.
However, if there is any truth in what the environmentalists are saying about that dam, they could have a disaster on their hands if it gave way.

I've held these since they were 30p BEFORE the consolidation and bought as low as 3p so am hanging in there.

[laurence llewelyn binliner] 26/4/2019 14:05

Top-up time, a few weak hands enabling shares to migrate from the impatient to the patient... :o)

The TSJA has not accepted the requests by EeA for the cessation of activities at the mine and an increase in the scope of the environmental plan.

[sirmoori] 26/4/2019 14:03

I shouldn't wait too long!

[pawsche] 26/4/2019 13:58

I'm waiting for a few more panicky individuals to sell and knock the price down a bit more before I pick up a shedload at bargain prices.

[husbod] 26/4/2019 13:30

Looks like Fangs has achieved his goal at least short term wise as a few have sold.Gives the lie to those who say posters don't affect share prices.The Company response is pretty clear cut.

[riotinted_specs] 26/4/2019 13:26

This whole environmental thing has already been covered... this is old news and simply some historical admin errors on the part of the Junta which need to be back filled

[shortarm] 26/4/2019 13:22

From the year end results: made very clear that the AAU was correct and therefore, rejected the issues raised by EeA and confirmed the decision of JdA not to suspend the AAU.

[shortarm] 26/4/2019 13:11

You're using the wrong login.... you never said anything of the sort :-)

[bigdaddio] 26/4/2019 13:09

That article is a bit difficult to translate, but here is some of it........

Atalaya says that the sentence of the TSJA does not put "in question" the "continuity" of the mining project of Riotinto

Atalaya Riotinto Minera, operating company of the Riotinto copper mine (Huelva), said on Friday that the ruling issued by the First Section of the Contentious-Administrative Chamber of the Superior Court of Justice of Andalusia (TSJA) that annuls the Administrative resolution of the year 2015 of restarting the activity of said enclave - granted by the Junta de Andalucía - does not put "in question the normal continuity of the mining activity in the project". In concreteAtalaya says that the sentence of the TSJA does not put "in question" the "continuity" of the mining project of Riotinto

to, the aforementioned judgment of the TSJA considers the lawsuit filed by Ecologists in Action against a resolution of the Junta de Andalucía that endorsed the authorization of the autonomous administration to restart the works and the restoration plan for the exploitation of polymetallic sulphides in Minas de Riotinto, promoted then by Emed Tartessus, currently Atalaya Riotinto Minera. Atalaya says that the sentence of the TSJA does not put "in question" the "continuity" of the mining project of Riotinto

the authorization to restart the mining works. "In a statement, Atalaya Riotinto has reacted to this ruling stating that" it confirms that it is the Administration of the Junta de Andalucía that has to solve the situation generated by the administrative defects in the processing of the Unified Environmental Authorization (AAU) of the Riotinto mine ".

Atalaya says that the sentence of the TSJA does not put "in question" the "continuity" of the mining project of Riotinto

"All this is done without questioning the normal continuity of the mining activity in the project," according to the Atalaya company, for which "the doubts generated in the shareholders, employees and, in general, in the field of influence of the operation that today represents an important economic flow in the province "of Huelva," supporting more than 800 jobs, and that, after years of neglect, has led to the Riotinto mine to meet all the ...

Atalaya says that the sentence of the TSJA does not put "in question" the "continuity" of the mining project of Riotinto

Therefore, Atalaya "is still available to all interested parties, including administration, environmental organizations, trade unions, employees and citizens in general, to continue collaborating transparently for an excellent mining in environmental and security plans, and to continue this way contributing employment and wealth to the region in a sustainable manner ".

They seem to think there is nothing to worry about.

[husbod] 26/4/2019 12:52

Oh well it was nice while it lasted - van being a slightly positive member of the board but I suppose once a bat always a bat.And now we've got a mini bat.

[vanhelsingjr] 26/4/2019 12:29

hxxps://www.europapress.es/andalucia/huelva-00354/noticia-atalaya-dice-sentencia-tsja-no-pone-cuestion-continuidad-proyecto-minero-riotinto-20190426122936.html
Company report in spanish press Why no RNS?

[sonofvan] 26/4/2019 12:29

This is what I said so many months ago: Riotinto is going to close. Now is already closed. It comes from the Court. There is also a nes government and new rules. By the way, Touro is never going to open.

[vanhelsingjr] 26/4/2019 12:23

Very serious situation, the mine is operating without environmental and mining permits just as a good garimpeiro in the Amazon jungle, but garimpeiros are not quoted.

[sithuk] 26/4/2019 12:23

From Tommy's link via google translate:The company also considers that the new ruling "neither questions the continuity of the project, nor does it affect the plans already known by the Administration to invest more than 80 million euros in the modernization necessary to expand productive activity".Looks like operations continue as normal and the council sort out the paperwork in parallel.

[v11slr] 26/4/2019 12:07

Well I've sold my holding at a decent profit pending clarification. I thought holding a European mining company rather than one in the wilds of the 'stans would be freer of political uncertainty. Seems not!

[husbod] 26/4/2019 11:46

Hmm - on the face of it this requires an urgent clarification RNS from the Company.Maybe they're in emergency talks with the Junta to sort it out and are awaiting the outcome before informing the market.Knowing how environmentally aware they are this hopefully is a minor storm in a teacup but you only have to mention the possibility of a damn collapse for everyone to panic.

[bigdaddio] 26/4/2019 11:35

My translation of this is.....

"This means that, today, the AAU of the Riotinto Project is canceled, and, therefore, the mining operation does not have the necessary environmental authorization to continue operating. And most importantly, the annulment of the AAU will immediately entail the nullity of the Resolution of 23 January 2015 of the General Directorate of Industry, Energy and Mines that authorized the restart of the mining exploitation, which is pending next sentence in the same Room of the TSJA. Precisely this matter is on which the TSJA now sentences.
Throughout the process and since its implementation in 2015, Ecologists in Action has questioned whether the Rio Tinto Project can guarantee the safety of its large sludge dams during the ten years of life authorized by the annulled AAU. The first dams of Gossan-Cobre were built in the years 1969-1972, once the dam of Gossan was filled, the Aguzadera dam was designed in 1987, which in turn was modified in 1995. All of them were abandoned in 2001.

According to Ecologists, since 2015, the rafts are being reused by Atalaya Riotinto Minera, to store the new mining waste from the restarted mining production, and re-creations and modifications of the Copper and Aguzadera rafts have been carried out, in breach of the conditions that were established in the AAU now canceled, putting them at serious risk of breakage.

Ecologists explains that "in November 2018, the Junta de Andalucía of Susana Díaz authorized the reduction of the solids content of the sludge, from 50% to 35%, legalizing a practice that the company was already carrying out without authorization, and seriously danger the stability of them ".

Those permits were granted, underlines Ecologistas, just before the Andalusian elections that Susana Díaz anticipated in March 2015, and just before those that she advanced to December 2018.

So in his opinion, "electoral interests have prevailed over environmental legality, over information rights and citizen participation and over the risk of catastrophic rupture of sludge ponds, which contain 10 times more sludge than the Boliden raft that burst in April 1998 in Aznalcóllar."

Which means that we are operating without the necessary permits?
Earlier in the article it seems to suggest that mining should stop.........

"In the opinion of the organization Ecologists in Action and as recalled just three weeks ago its then spokesman, Antonio Ramos, the final annulment of the Unified Environmental Authorization (AAU) and "the serious risk of catastrophic rupture of sludge ponds of the complex mining should lead to a precautionary stoppage of mining activity. "

Am I panicking unduly. I have read the whole thing and none of it looks very good.
It looks like the environmentalists have the upper hand?

[tommyttrades] 26/4/2019 11:08

Diane Abbot school of economics....

Do the maths

[vanhelsingjr] 26/4/2019 10:36

hxxps://www.ecologistasenaccion.org/?p=119506
Th court resolution has been issued on april 23 and received by the parties on the following day and Atym?

[vanhelsingjr] 26/4/2019 09:53

hxxps://www.diariodehuelva.es/2019/04/25/el-tsja-anula-los-permisos-de-explotacion-que-la-junta-otorgo-a-la-mina-de-riotinto/
Serious problems.
The company has received the resolution and no information to the markets Why?

[mronions] 25/4/2019 13:16

still can't work out shareholder position . Looks like shares held greater than float, which would suggest our float has been increased by stock which is out on loan / has been shorted .

Those who have done their best to keep stock int the 230-240p range may have borrowed stock on contract for difference CFD , stock borrowed from PB, as its CFD not declaration needed . This however has increased float. Dangerous stuff for those short and if need to get out ... they will struggle to find stock. Question is borrow costs . Also, if anyone gets wind that a major shareholder has sold stock on CFD to avoid making any declaration.