Atalaya Mining Share Discussion Threads

[stockknobjockeyvanbookstino] 18/6/2019 19:25

Possible share issue on the way........they can't raise any debt at the moment with no mine permit........and the Astor ruling.

Possible raise of 27,500,000 at £1.70 for £45,750,000 gross.

[rougepierre] 18/6/2019 18:03

July N.Y. copper closed up 545 points at 270.10 cents today. Prices closed nearer the session high today and hit a three-week high on more short covering. The copper bears still have the overall near-term technical advantage. However, a seven-week-old downtrend on the daily bar chart was negated today. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 280.00 cents.

Onwards and upwards....

[mronions] 18/6/2019 15:24

@waterloo ... Cyprus law protects us, its one of the reason Harry set up here . It offers a degree of security for minorities. I stress the point again :

resolution 13 : 20% capital increase at a price 20% below market and we cannot participate . No thanks. they can issue us with rights which we can exercise or sell. Would almost be like a first dividend. VOTE against resolution 13 .

Our current articles of association law 60b allows us to participate at 20% discount

[waterloo01] 18/6/2019 14:58

Are these different to last year. Most companies have some share issue authorisations.

[mronions] 18/6/2019 14:36

Share options are ok , but should be at a premium to share price so as to act as an incentive otherwise its free money / give away.

so resolution 12 : two questions , i. what price relative to market price and ii. 10% of share capital seems a bit much, 10% to directors ?

I know Alberto has some deep out of the money share options. This hopefully incentivises him.

resolution 13 : 20% capital increase at a price 20% below market and we cannot participate . No thanks. they can issue us with rights which we can exercise or sell. Would almost be like a first dividend. VOTE against resolution 13 .

[husbod] 18/6/2019 13:55

Mr OTwo things I would ban if I were in charge of this country namely shorting and directors share options. Directors are paid quite enough and much more than enough in some cases and they can afford to buy shares in the open market just like the rest of us if they think the company will improve. Share options are generally not particularly onerous and anyway encourage directors to make decisions that may not actually do anything positive for the company eg buy backs that simply enable those less than onerous share price targets to be hit. They then get their shares and we're diluted. And the company hasn't invested that money.I always vote against them.

[mronions] 18/6/2019 12:44

Ok , AGM please take a look at resolution 12 and 13

Resolution 12: Authority to Grant Options under the Share Option Plans
Under Section 60B of the Companies Law, every time a Cypriot public company issues shares for cash, or grants rights to subscribe, it must first offer those shares or rights to shareholders on a pro rata basis. The rights of pre- emption in Section 60B of the Companies Law may be disapplied by a resolution of Shareholders in general meeting.
Shareholders will be asked to consider and, if deemed appropriate, to approve a resolution to authorise the Board to grant future options pursuant to the Share Option Plans to subscribe for up to 13,733,912 Ordinary Shares (approximately 10% of the current issued share capital of the Company), as if the rights of pre-emption in Section 60B of the Companies Law did not apply to the grant of such options or the issue of such Ordinary Shares pursuant thereto. Shareholders should note that the Board will be restricted under the Share Option Plans to limiting the grant of options to ensure that at any one time the number of Ordinary Shares subject to outstanding option grants (both pursuant to the Share Option Plans and under existing arrangements) shall not exceed 10% of the Company’s issued share capital. Further, options will be granted with a minimum exercise price of the nominal value of an Ordinary Share.
Resolution 13: Authority to Allot Shares
The Shareholders will be asked to consider and, if deemed advisable, to approve a resolution to authorise the Directors to allot, or grant rights to subscribe for, up to an aggregate of 27,467,825 new Ordinary Shares (representing approximately 20 per cent. of the Company’s issued share capital at the date of this Circular) as if the rights of pre-emption in Section 60B of the Companies Law did not apply. In accordance with the terms of Resolution 13 any Ordinary Shares issued, or rights to subscribe for Ordinary Shares granted, pursuant to this authority will be at a price of not less than a 20 per cent. discount to the Market Price of an Ordinary Share on AIM for the ten trading days immediately preceding the issue or the grant and subject to compliance with, and obtaining any requisite approvals required by, the AIM Rules and the rules of the TSX. Such authority, unless previously revoked or renewed, will expire at the annual general meeting of the Company to be held in 2020.

[husbod] 18/6/2019 09:41

Flogged a few yesterday just for a little excitement with Saga. It could keel over, be bid for or just stay where it is and recover or sink gracefully.The whole gamut of emotions are in play.Anyone having a pint on Keith?That was my predictive text equivalent of anyone having a punt on Keir?

[stockknobjockeyvanbookstino] 18/6/2019 07:22

Mid price still £2.125.............

[rougepierre] 17/6/2019 09:59

Sooo my doubling up in ARS at 4.25 says copper has hit a triple bottom...

AIMHO as usual...

[rougepierre] 14/6/2019 09:54

Gold and silver...boommmm!

Just waiting to break out from $1350 and $15 respectively...

Some pundits see $50 silver which would be excellent here...

Copper ready to go again...?

AIMHO as usual...

[husbod] 11/6/2019 17:02

Traf posts sharp rise in first half profits. Wonder if it's actively reviewing its holding in ATYM or is it just happy to stay on for the ride?

[stockknobjockeyvanbookstino] 10/6/2019 19:34

I get the feeling something is up with the mid price being held at £2.125..........bid or placing...........

[waterloo01] 10/6/2019 19:00

After you old boy.......but it is a serious point, illustrated by the threat of a major holder of a resource (China and rare earths) to restrict supply, and all of a sudden it comes into clearer focus. It's probably always been about resources (and the Chinese are well ahead of the curve on that).the

Edit: I do like gold though. Again the Chinese, Russians, Indians all buying which is a reflection of a different dynamic to copper. Gold is about the dollar and the freakish financial system currently.

[husbod] 10/6/2019 18:54

Cheers centipede - never even heard of Thorium. Have a holding in a uranium based investment company (mentioned by Rouge some time ago) which has done very little following the Japanese disaster and Merkels brilliant decision to close all of Germany's nuclear plants.Waterloo - the general consensus is that future wars will be fought over water. Maybe we should mobilise instead to invade Ecuador and secure the SOLG resource.

[centipede] 10/6/2019 17:45

Strange thing is, there is a fairly clean source of nuclear energy, based on Thorium.
Uranium was initially used since a side product can be used for weapons.
Anyway, there is some work being done on this, all it needs is some investment, which might come about with greater need.
Coupled with some progress with batteries, and motors based on copper wiring ......

[rougepierre] 10/6/2019 17:28

The ultimate irony for Greenpeace et al...

The cleanest, most efficient form of energy generation is nuclear, but...

They consider it to be the most dangerous...

Which is more likely to destroy our planet? A nuclear disaster or even current levels of carbon based pollution.../

(Yes I know...wind and solar...but the wind doesn't blow consistently; the sun doesn't always shine; and both are more expensive than nuclear over the long term...)

AIMHO as usual...

Meanwhile copper up 2.5% since friday...

[waterloo01] 10/6/2019 17:26

I wasn't really referencing how the electricity is generated, just the amount of copper/nickel et al that will be needed in meeting govts targets, far far exceeds current known resources.

I would add that it will also matter a great deal where the mine is located politically going forward as demand accelerates (and trade disputes carving up resources). Every Nation will want to assure supply and European based copper resources should/will eventually attract a political premium. IMO

[scrappycat] 10/6/2019 16:50

I imagine, that the MPs are praying that Nuclear Fusion will come to the rescue. Of course, if it does, then this will have little effect on the environment and offers boundless amounts of electricity. If we cannot hack the current difficulties in producing it, the world, as we know it, is in trouble.

[husbod] 10/6/2019 16:22

The only way to create the energy for all electric cars is nuclear so that presents a nice little conundrum for the environmentalists.And of course for politicians as amazingly you can't just flick your fingers and hey presto a nuclear power station appears.And for some reason I really don't understand the fifth biggest economy in the world hasn't got the expertise and money to build the bloody things without French or Chinese imput. 'Tis a national disgrace.

[waterloo01] 10/6/2019 12:26

No idea, but the move to more electrification and automation looks unstoppable, so they will either need to find more copper et al, refine the tech so it uses less or maybe even eventually get to situation where you will 'rent' the metal content. Who knows?

[pawsche] 10/6/2019 12:11

@Waterloo01... Does the requirement for copper include that which will be needed to completely upgrade the UK's entire electricity infrastructure? The standard mains supply to a house is insufficient to allow an EV to be charged in a reasonable time. Thus, the supply to every house, flat, office and a fair number of other commercial premises will need to be approximately doubled. Which invloves a massive upgrade to every substation and the National Grid...

Then, they're going to need about another half-a-dozen nuclear power stations to provide the extra elecricity...

One gets the impression that "our betters" haven't really thought this one through terrible well!

[waterloo01] 10/6/2019 10:24

No question about the fundamentals of copper/cobal.



In a letter to the UK’s Committee on Climate Change (CCC) on Wednesday (5 June), a team of scientists suggests that the CCC’s proposed target of net-zero emissions by 2050 will need almost all cars and vans on British roads to be electric-battery powered.

The team, which supports that goal, outlined the raw material needs and challenges that will come hand-in-hand with such an ambitious target. Current battery production requires materials like cobalt, copper and nickel.

Professor Richard Herrington of the Natural History Museum said in a statement that “there are huge implications for our natural resources not only to produce green technologies like electric cars but keep them charged”.

He and his colleagues calculated that switching all of the UK’s light vehicles to electric will require 207,900 tonnes of cobalt, 264,600 tonnes of lithium carbonate and over 2,300,000 tonnes of copper.

That amount of cobalt is twice the current global output, while the required amount of lithium is 75% of production and accounts for at least half of the copper output.

The calculation does not include heavy or light goods vehicles.

“Over the next few decades, global supply of raw materials must drastically change to accommodate not just the UK’s transformation to a low carbon economy, but the whole world’s,” Herrington adds.


EU’s Sefcovic: Real risk that ‘raw materials become the new oil’
Europeans have to be “very vigilant” that today’s dependency on imported oil and gas is not replaced by dependency on lithium, cobalt, copper and other raw materials that industries need for the green transition, Maroš Šefčovič told EURACTIV in an exclusive interview.

In terms of worldwide impact, the scientists estimate that cobalt production will have to increase nearly fourfold and copper will have to double, in order to satisfy the demand of 2 billion cars, the current projected total global fleet in 2050.