Atalaya Mining Share Discussion Threads

[scrappycat] 01/7/2019 10:25

MrO,

I doubt the board will consider dividends until the payment demands of Astor are, finally, mutually agreed, and the possible expansion plans of the company determined. I, too, would appreciate dividends, plus a main board listing. However, I do recognise, that in relation to the latter, there is, at the moment, too small a free float. This could possibly be rectified by an equity increase to purchase additional assets. We will see.

[mronions] 01/7/2019 10:09

I believe the company also shares our aspirations for a listing beyond AIM ,
One thing they are worried about is the float is too small to support a listing elsewhere,

One way we can organically increase our float, is with a stock dividend.

5% stock dividend

issue 7 millions shares a year through stock dividend

similar shareholder dealings as santander

holders will have the options to sell the options, hold cover and sell at a future date or just hold.

Either way the float will be increased

all this post Astor

[mronions] 01/7/2019 09:53

The case for dividends post Astor
There are 138,652,126 shares on a fully diluted basis.
I own 0.08% of the company ;-)


a 5% yield on 200p, is a 10p dividend
0.1£ * 138 652 126 = £13.8 million / year

We can easily afford that

What few shareholder our there we should lobby management for a dividend

starting at 10p and a 200p : that's 20 years to get paid out investment
- considering growth ; expansion; possible mine life; copper price : dividends may grow

Please lobby management: I think they will listen

[mronions] 01/7/2019 09:48

Post Astor.
Once Astor negotiated all options possible.
We can access debt markets for our expansion: the best finance option.
IMO if Astor refuses to a deal, then we are likely to go the equity route again (with core shareholders likely to put their hands up to invest).
IMO if Astor agrees to instalment payments rather than all in one lump , then many options open up for us: sure we may continue to self fund from free cash flow, but all this investment can only take place at Atalaya site not Touro or any other further away opportunities.
Our FC means we are in a strong position to acquire assets that don't have our healthy balance sheet.
The question now, IMHO, is that Trafigura would like to own us and have access to our FC rather than Atalaya to grow as an independent mining business. Therefore IMHO Trafigura and Carlos Estevez may continue to hassle us / frustrate us ... where Astor fits in here, I am not sure.
I still think the business could easily start paying some dividends post Astor and still be expansionary.

[thebrewster] 01/7/2019 09:00

Looked at the holdings data on Morningstar.com and comparing 30th June position to 31st May. Only significant change is Abaco Capital have picked up 843,000 shares during the month....

[husbod] 30/6/2019 19:32

Sounds like a bitter and twisted human being. Is he sponsoring van as well?

[pawsche] 30/6/2019 08:19

Probably a lot depends on whether the ecology group is genuinely interested in the environment and ecology of the region or whether they're just a cover for extreme political interests that wish to "smash" the mining industry along with any other bits of "capitalism" that they can get stuck into.

Remembering the near-rabid behaviour of their representatives at last year's AGM, I'd be tempted to consider the latter reason more likely!

[mronions] 28/6/2019 14:57

IMHO Alberto does not share our (or my anger) towards the cause of the ecologists. Rather, he takes the higher ground and wants to engage and meet expectations. A good mine will have a happy workforce, locals and ecologists. So maybe Alberto is trying to re-assure ecologists that ATYM wants and to the best of its ability is doing everything right with consideration for the environment. That is not to say the ecologists will not scrutinise / hold ATYM to account going forward. WhatI am trying to say, is that I believe there has been progress in the relationship.

[laurence llewelyn binliner] 28/6/2019 12:32

#Onions, the item that didn’t get put out to consultation..., is it expected that this will invite further backlash from the Eco warriors within the 30 days and we will have to further rectify and report, or is it a simple case of correcting the procedural oversight and then the AAU is reinstated ..?

[mronions] 28/6/2019 11:23

AAU : there was a procedural administrative mistake . At the time an item was agreed upon and waved through, the mistake was that the item was not put out for 30 day consultation. This has or is about to be re-filed and the 30 days or more (factoring in potential holidays or any other mitigating reason) has or will start. Nobody is rushing. The important thing is to get it right.

However, mining continues. No risk of halt. The court judges have made that clear.

[rougepierre] 28/6/2019 09:12

O...well done sir!

[stockknobjockeyvanbookstino] 27/6/2019 19:34

Mr O, thanks, when do they anticipate getting the new AAU please ?

[sirmoori] 27/6/2019 18:30

Thanks so much Mr O. Really useful.

[husbod] 27/6/2019 16:08

Looks like a nasty accident at a Glencore mine in the DRC involving illegal miners.Must be a nightmare operating in some countries - even worse than Spain.

[husbod] 27/6/2019 16:03

Yep thanks Mr O - all sounds nice and positive.

[mronions] 27/6/2019 15:25

Hi all ... am back from AGM

Feedback:

- Everyone looked relaxed, as was the good-natured tone. Much more than previous AGMs meetings.
- board members got close to 100% in all cases for reelection, so not many proxy shareholders voicing opposition.
- no ecologists lawyers or Touro pressure groups present at the meeting
- presentation is in public domain ... everything on track, under budget for 15mt expansion. I note we have a proper annual report, the real thing (thik A4 booklet), the first time I have seen this. Institutional shareholders will like this.
- we were shown video of recent works and completed 2nd crusher , new mill and floatation areas.
- our cost to produce copper still amongst the best, as is the cost per tn to bring on new copper projects
- AUU paperwork completion by Junta happening, 30 days (that were missed last time will now happen)
- Astor liability provisioned and will be paid in due course.
- Touro moving slowly forward
- Damns are operating above expectations (no flood as ecologist lawyer said there would be last AGM).

Questioned on :
- dividends : they will look at and continue to discuss, but still in expansion phase (nothing can be done anyway until Astor sorted).
- we should leave AIM : they are investigating listing on full main / standard board (not sure what this meant), but they are looking into options. They think float is still too small, but appreciate general shareholder support for progress beyond aim.
- Listing in Spain : not on tjheir agenda. Can probably account for 10-12% of free float in hands of Spanish institutions, therefore listing in UK ans TSX not an issue.

Conclusion
They are relaxed.
Mining is going very well.
Expansion on track.
Only raised 50% for expansion via shares, balance has come from free cash flow. We are self funding.
We have a state of the art mining asset.
The management team world class and hungry for more opportunities ... things move slowly: Touro.
I asked about adjacent lands held by Trafigura, maybe something to do there.
Astor: now court cases are over and we are stuck in a status quo, I got the impression that lawyers are in the figure it out stage. If sorted / agreement : good value bank debt around the corner; if Astor won't budge then they will have to wait for payments another 2-3 years and we can raise through equity if needed. Astor slowing us down.

[sirmoori] 27/6/2019 11:27

I would be really grateful for any commentary on the AGM from holders who are present.

[sonofvan] 27/6/2019 10:51

I wonder how the new plant will work from now on without the permits. By the way, It seems that the Junta de Andalucía does not have very good lawyers or much interest in defending the mine operating.

hxxps://www.diariodehuelva.es/2019/06/27/el-tsja-comunica-a-la-junta-la-firmeza-de-la-sentencia-que-anula-la-aau-de-la-mina-de-riotinto/

Facts, fatcs, facts...

[scrappycat] 27/6/2019 10:39

Laurence,

Yes, apparently Copper has an important part to play, in that some of those extremely rare elements have been associated with Cu ore. However, amounts are miniscule, so the search for more, or acceptable substitutes, goes on.

[scrappycat] 27/6/2019 09:46

Interesting, I see my last post has been voted down. Since it was, basically, a statement of fact, one can only assume that the downvoter doesn't appreciate facts being posted.

[husbod] 27/6/2019 09:32

Fwiw I got nicely stung on a tungsten mine in Devon - Wolfe Minerals which promised much but eventually went bust. Thought a rare metal in a stable country - what could possibly go wrong.......

[scrappycat] 27/6/2019 09:21

A BBC tv 4 programme last night, dealing with Super Elements, and their rarity, devoted a significant amount of time to Tungsten, and included demonstrations of the fact that it is the strongest metal known, and its expanding uses.

Pity the market appears totally oblivious to the potential of WRES.