Atalaya Mining Share Discussion Threads

[rougepierre] 04/9/2019 15:53

Switched some FRES back into GGP...copper gold prospect...

Thanks for the tip whoever gave me it...had to wait to get back in at exit price...

[laurence llewelyn binliner] 04/9/2019 14:58

#RP on balance the timing looks good doesn't it.. Copper may have bottomed and turned a corner, Silver making strong gains from $15-19/Oz... and 20+ doesn't look far away..

Q3/Q4 ramping up towards our target of 50-55,000 Tonnes.. :o)

[rougepierre] 04/9/2019 12:36

Doubled up both in KAZ and bought more ATYM at 185.74...now fully invested unless I switch more out of FRES into ATYM...

[riotinted_specs] 04/9/2019 01:54

Got it so I'll reinvest in 24-30 months

[mronions] 03/9/2019 10:54

another print on IG ... have to pay 190.4 small premium

[rougepierre] 03/9/2019 08:43

Bought 3000...

[mronions] 02/9/2019 16:15

purchased few additional clips via IG index .... nice levels

[waterloo01] 30/8/2019 17:33

Some groups will never accept mining, which is ironic given the need for copper in electrification. No idea how influential or not this group are. Sure Van will tell us!



They ask for a stoppage of the Riotinto mine (Huelva) until they have authorization

[laurence llewelyn binliner] 29/8/2019 20:06

TTT, we've always expected the Astor liability due to get paid, and we have successfully kicked the can down the road for a few years to enable building the plant expansion and to get positioned to be able to pay it down.., which IMO will happen before Touro so 2019/2020 will take care of it.., the company is moving forward well if not reflected in the current share price ., in summary I would say it's all coming together nicely..

Copper looks to be on the edge of turning a corner now as Silver gets its skates on too.. :o)

[waterloo01] 29/8/2019 17:35

Quite correct tommytrades, it's not been paid as yet as it's still not due (doubly so with copper under $1.60) it's just been partly moved to current liabilities, but all the broker notes account for the full amount. It's accounted for in the targets.

[tommyttrades] 29/8/2019 17:27

On the Astor liability CANA stated last week...

. From an investor’s perspective, the key point
is, in our view, not the split of the deferred consideration between current and noncurrent liabilities, but the fact that full repayment of the deferred consideration should
be possible within the next few years. In our valuation of ATYM, given the expected
imminent repayment of the deferred consideration, we do not discount the €53m that
is due.

[laurence llewelyn binliner] 29/8/2019 14:09

Mr O.... I'm getting close to adding too, if Copper has bottomed and as Silver has been on a roll the past week or 2 reducing our AISC with its credits.., overlaying COMEX Copper against ATYM tells a story..

50% of the Astor liability has been accounted for now, and 50% to go next year..

[mronions] 29/8/2019 13:04

Am well, think the miners out of favour due to China / US woes ...

[mronions] 29/8/2019 13:03

+2604 +1300 me

[tommyttrades] 28/8/2019 17:28

Earlier link doesn't work ,so I guess is 30 days for the comments + reply, as suggested.


The Eco's are against all mining.






hxxp://www.huelvainformacion.es/promociones/

Air quality best in area for decades.Similar to the National park(Doñana)...

n addition to the continued irrigation in the mining facilities, Atalaya Mining, managing company of the Riotinto Mining Project , projects the construction of a new roof for the thickness warehouse. It is a large civil work that includes a shield with the total closure by means of a new metal roof that will reduce dust emissions, particularly in areas near this facility, such as the village of La Dehesa.

[laurence llewelyn binliner] 28/8/2019 07:55

Thanks TTT.. 30 days to lodge objections to the AAU, let's see what we get but I've no doubt the Eco's will have some to say on the matter.., but on the plus side Copper may have bottomed now and Silver is on a good run offsetting our AISC with its credits.. :o)

[stockknobjockeyvanbookstino] 27/8/2019 19:17

TT I think thats 30 days to receive comments, then got to deal with those....?

I'm sure the Ecologists had one or two comments....

[tommyttrades] 27/8/2019 12:56

tommyttrades - 29 Jul 2019 - 15:35:46 - 13474 of 13579
hxxps://www.juntadeandalucia.es/export/drupaljda/tramite_informacion_publica/19/07/BOJA19-135-00002-10821-01_00159097.pdf


Publication date:
07/16/2019

Term:
07/17/2019 - 08/28/2019

30 business days, from the day following its publication.

Hopefully we'll hear on this tomorrow..

.
I wish the Co. would also release updates on how the drilling campaign at Filon Sur is progressing.... Surely nearing completion along with more at Atalaya

[tommyttrades] 23/8/2019 17:00

Post edited 29/08/19.......see below



Didn't know if you were going to post..?


So put up the highlights, there's 15 pgs.....
( If anyone wants the full note send a PM with an email address, I'll send over the weekend)


Riotinto mine expansion successfully completed
Production on track; cost guidance to be reviewed
Atalaya Mining (ATYM) produced 21,108t of copper in H1 19, and with the expansion
of Riotinto to 15Mtpa now complete, the company is confident of meeting its full year
guidance of 45,000-46,500t Cu. Current guidance for cash costs for the year is US
$1.95-2.15/lb. Given that the H1 average was US$1.81/lb, the company has said that it
will review guidance. We have revised our assumptions, and are forecasting production
of 46,050t (previously 45,460t) and average cash costs of US$1.86/lb (previously US
$2.10/lb) for the year.

Riotinto expansion reaches mechanical completion

The expansion to 15Mtpa is now complete and ramping up. We forecast that 11.1Mt
of ore will be milled this year, rising to 14.75Mt in 2020 as the mine reaches full
capacity. We forecast copper production of 54,800t in 2020 (company guidance is
50,000-55,000t) and we have lowered our cash cost assumption from US$2.10/lb to US
$2.00/lb.
Changes to our assumptions

Apart from the changes to Riotinto production and costs, we have also reviewed our
copper price and US$/€ assumptions, lowering our copper price forecast for 2019
from US$2.94/lb to US$2.80, and our US$/€ estimate from 1.16 to 1.14. We have also
revised our longer-term copper price assumptions, changed our ongoing tax assumption
from 25% to 19% (ATYM paid an effective c.17% in 2017 and 2018, and 14.6% in H1
19),

EDIT.........29/08/19
(I've deleted a paragraph here due to it being linked to on a Eco huggers sites ( Anyone wants I'm happy to send).Just not going to let them use for their own actions


Changes to our estimates
For 2019, lower cost, higher production assumptions and a weaker Euro more than
offset the lower copper price assumption, and we increase our EBITDA estimate for 2019
from €58.2m to €72.0m (H1 19 was €31.5m). These factors and a lower tax charge
result in an increase in fully diluted EPS from €c22.2 to €c34.1 (H1 19 was €c15.3). Our
2020 EBITDA estimate increases to €99.8m from €77.8m, and fully-diluted EPS from
€c32.9 to €c47.6.
Our 2021 estimates are negatively impacted by the delay in assumed
start up at Touro from early 2021 to early 2022.
Changes to our NPV modelling

We have reduced our NPV valuation from 467p to 360p.

This is as a result of the net
effect of a number of parameters including changes to our copper price and exchange
rate assumptions, changes to our near-term production and cost profile at Riotinto,
delays in our assumed start-up at Touro and our increased discount rate assumption
on the asset, changes to our treatment of the Astor deferred consideration, and a lower
cash position.

Increase in target price to 380p


Our target price is calculated as the rounded weighted average of three factors: our NPV
analysis, PE (based on the rolling 12-month FTSE All-Share PE) and EV/EBITDA analysis.
While our NPV estimate is lower, our near-term earnings enhancements result in an
increase in the contribution to target price from both PE and EV/EBITDA.

As a result,we have increased our target price on ATYM from 330p to 380p.

We retain our BUY recommendation on Atalaya Mining.
........................................................................................................................................................................

EDIT.....from note
The expansion was based upon a NI 43-101 compliant technical report*, released in
July 2018. The key parameters outlined in the report were:

 Recoverable copper from open-pit reserves estimated at 696,500t, with 9.4Moz
of silver;
 Average annual production of 50,000t Cu and 670,000oz Ag in concentrate;



Seen that silver is over $17 p/oz today....... extra $159m $11.4m p/a

[stockknobjockeyvanbookstino] 22/8/2019 22:05

Canaccord just put a new buy note out at £3.80. Will add once the permit is sorted.

[erric] 20/8/2019 12:03

I’m very well, thanks, though a little poorer, presently.

[rougepierre] 20/8/2019 09:28

BTW Erric...I've found those witco links incredibly useful over the years...I probably use them pretty much every day...not just for copper...

Hope you are well

Cheers