Atalaya Mining Share Discussion Threads

[tommyttrades] 25/1/2020 13:57

Huelva, January 25, 2020 - 06: 05h

La delegada del Gobierno andaluz en Huelva, Bella Verano, aseguró ayer que la mina de Riotinto, que explota Atalaya Mining, tendrá la nueva Autorización Ambiental Unificada (AAU) antes de que venza el plazo y tenga que cumplirse la sentencia del Tribunal Superior de Justicia de Andalucía (TSJA) y paralizar la actividad.

The delegate of the Andalusian Government in Huelva, Bella Verano, said yesterday that the Riotinto mine, which operates Atalaya Mining , will have the new Unified Environmental Authorization (AAU) before the deadline expires and the sentence of the Superior Court of Justice has to be fulfilled of Andalusia (TSJA) and paralyze the activity

.


Bella Verano explicó que queda un mes y medio para el vencimiento y que todos los departamentos de la Junta trabajan sin pausa y detalladamente para que la AAU sea efectiva lo antes posible.

Bella Verano explained that there is a month and a half left for expiration and that all the departments of the Board work without pause and in detail so that the AAU is effective as soon as possible

Precisamente ayer Atalaya Mining dio a conocer, a través del boletín de la empresa, que la mina de Riotinto ha cerrado 2019 con “récord histórico de producción” con 10,5 millones de toneladas de mineral tratados y 44.950 toneladas de cobre producido.
Precisely yesterday, Atalaya Mining announced, through the company's newsletter, that the Riotinto mine has closed 2019 with a “historical production record” with 10.5 million tons of treated ore and 44,950 tons of copper produced.

Las cifras reflejan un incremento de la producción de metal del 6,7% el pasado año con respecto al ejercicio anterior, la cual fue expedida en su totalidad hasta el puerto de Huelva para su venta. Por otra parte, se mantienen los buenos resultados en metalurgia, donde la recuperación de cobre se mantuvo en torno al 87%, por encima de los registros históricos de esta mina.

The figures reflect an increase in metal production of 6.7% last year compared to the previous year, which was issued in its entirety to the port of Huelva for sale. On the other hand, good results in metallurgy are maintained, where copper recovery remained at around 87%, above the historical records of this mine.



+Riotinto
A pesar de los buenos resultados, Atalaya Mining augura un 2020 pleno de “nuevas metas y retos”. La implementación del nuevo proyecto +Riotinto, en el que la compañía invierte 80 millones en tecnología, impone un nuevo objetivo: llegar a la producción de 55.000 toneladas de cobre. Ello gracias a la incorporación de nuevas reservas de mineral y a la con la instalación de equipos que incrementan su capacidad de tratamiento un 60%.
+ Riotinto
Despite the good results, Atalaya Mining predicts a full 2020 of “new goals and challenges”. The implementation of the new project + Riotinto, in which the company invests 80 million in technology , imposes a new objective: to reach the production of 55,000 tons of copper. This is thanks to the incorporation of new ore reserves and to the installation of equipment that increases its treatment capacity by 60%.

De cara al futuro, han remarcado "la apuesta" de la compañía por el legendario yacimiento pasa también por mantener la inversión en investigación y exploración de otras áreas históricas de Riotinto: Corta Atalaya y Filón Sur. Durante este 2019, la campaña de sondeos desarrollada ha abarcado 1.019 y 1.170 metros, respectivamente, en cada zona y continúa definiendo y validando los datos históricos, que confirmaban "un stockwork rico en cobre en estas dos áreas".

Looking ahead, they have remarked "the bet" of the company for the legendary site also to maintain investment in research and exploration of other historic areas of Riotinto: Corta Atalaya and Filón Sur . During this 2019, the survey campaign developed has covered 1,019 and 1,170 meters, respectively, in each area and continues to define and validate the historical data, which confirmed "a stockwork rich in copper in these two areas

[brockwl2] 24/1/2020 14:29

Given I posted recently when the price was around 184p, that I felt risk/reward here, at that point was strongly in favour of reward, and I went very overweight in these. I think its only right that I declare I have sold about 7500 shares at 208.5p today to bring my position size back to a more sensible % of my portfolio.
My decision is purely based on where the short term copper price is going and nothing to do with the company's prospects. Which I still see very positively.
Copper has come down quite quickly, and most other copper plays have seen their price fall. Given how overweight I was, it was the sensible thing to do, given the current Chinese virus situation doesn't look like improving quickly.
Once the situation is clearer with that, I'll be more than happy to go overweight again, especially if the price has fallen further. If not there are a number of other copper plays ie CAML, KAZ, which have fallen significantly, and are now looking cheap. However my preference would always be ATYM, price aside.
The price has held up well, and there is clearly a willing buyer, also likely good news on the horizon, so I may not get a chance to buy back cheaper.
But that's fine as this has been a wonderful share to be in since Alberto took the reins, and I still have a decent holding.

Lee

[waterloo01] 23/1/2020 11:23

Yes we usually rely on VAN to highlight negatives! Maybe he's trading before he appears!

[husbod] 23/1/2020 11:16

Thanks LLB - just making sure you were paying attention.Nevertheless it's presumably the final regional court of appeal and there seems to be no suggestion of an appeal to a higher court so I remain of the view that shareholders should be appraised of the decision and what is being done about it. If it weren't for the diligence of posters here we would be lacking material information.Maybe the company is formulating the RNS as we speak.

[laurence llewelyn binliner] 23/1/2020 10:56

#Husbod..., it's the Superior Court of Justice of Andalusia (TSJA), so it is local level, not Spanish Supreme court level.., and mining continues as normal.., the Eco warriors are coming up with new questions daily to try and derail the project, Junta lawyers are involved to make sure that due process is adhered to and no more oversights occur on the AAU permitting..

[waterloo01] 23/1/2020 10:43

If I understand it correctly they have a period (couple months?) to sort out the AUU. As they have not issued a statement one assumes mining continues until then.

[husbod] 23/1/2020 10:37

Completely agree.Surely a decision by the Spanish Supreme Court that dismisses our and the Juntas appeal is material information that should be disclosed and if it is not material , due to leeway granted by the Court, then that should also be disclosed with a statement confirming that the company is confident that the Junta will be able to rectify the problem within the specified period.

[waterloo01] 22/1/2020 16:45

needs a statement imo

[laurence llewelyn binliner] 22/1/2020 16:43

One of the Spanglish conversions below seems to indicate the Superior Court have given the Junta 2 months to get the AAU done and dusted.. :o)



The Ordinance of the TSJA requires the processing in two months of the new AAU to be granted by the Junta de Andalucía to return legal security to the Rio Tinto Project, questioned by legal judgments ratified by the Supreme Court..

[waterloo01] 22/1/2020 16:15

Shortarm, yes that's what makes me think I have got the wrong end of it

[husbod] 22/1/2020 16:14

Strange share price reaction to what on the face of it looks like bad news. Maybe the junta have been doing very little pending the Supreme Court decision and now they're going to have to extract their digits tres rapidement as presumably ATYM will have to abide by the SC decision that the consent under which they are mining is now void?

[shortarm] 22/1/2020 16:09

That's bad! Weird that the share is up?

[waterloo01] 22/1/2020 16:06

At least Astor don't get paid! Also the locals look like they are up in arm about it, so it will get done, but how long will it take and can they continue mining?

As I say please DYOR

[waterloo01] 22/1/2020 16:06

At least Astor don't get paid! Also the locals look like they are up in arm about it, so it will get done, but how long will it take and can they continue mining?

As I say please DYOR

[waterloo01] 22/1/2020 16:05

The TSJA declares firm the sentence that leaves the Riotinto mine without permission to restart
EFE HuelvaJan 22 2020

The Superior Court of Justice of Andalusia (TSJA) has declared firm the sentence issued in April 2019 that annuls the resolution of January 23, 2015 of the General Directorate of Industry, Energy and Mines of authorization to restart the work and the plan of restoration in the mine of Riotinto (Huelva).

Sources of the Andalusian high court have informed Efe that the Administrative Litigation Chamber has issued an order of diligence, dated January 13, where it declares that firmness, after the Supreme Court inadmissible the appeal filed by Atalaya Riotinto Minera, owner of the mine, against that sentence.

[tommyttrades] 22/1/2020 15:57

hxxps://www.lavanguardia.com/local/sevilla/20200122/473070240396/tribunales--el-tsja-declara-firme-la-sentencia-que-anula-la-autorizacion-de-la-mina-de-riotinto.html

[waterloo01] 22/1/2020 15:56

From what I can find it seems the local mayors and workers have been banging on the Xunta's door, demanding the AUU be expedited, at the same time it looks to me (and PLEASE DYOR) it looks like the permit is now cancelled and mining......

I'm really not sure if I have the right end of the stick here so DYOR (atalaya rio tinto google search)

[waterloo01] 22/1/2020 15:46

Not sure it's good though.

[stockknobjockeyvanbookstino] 22/1/2020 14:58

Something happening ?

Price just moved significantly....

[mronions] 20/1/2020 15:45

To my understanding its a good thing. There is a proportion of what we mine that is in off take which means it is effectively pre-sold at market price - discount. Then I guess we are shipping our ore outside off take. Means your management not taking too much risk on prevailing copper price. A profit is a profit. If Astor messes us around, then I can see our stocks increasing.

[ilot] 20/1/2020 15:18

This statement always appears in the quarterly trading RNS:

"All concentrate in stock at the beginning of the quarter, and produced during the quarter, has been delivered to the port at Huelva."

What does it mean? If all concentrate produced in a quarter was delivered to Huelva, then there be no stock at the beginning of the next quarter?

[tommyttrades] 18/1/2020 17:50

Update was short on information tbh...More a holding statement.


AAU does look to be imminent as you say LLB..


Positives


AISC will be lower ...Smelter costs have fallen dramatically from last year...Was $80.8 down to $62.6
hxxps://www.crugroup.com/knowledge-and-insights/spotlights/2020/copper-concentrates-key-themes-for-2020/

TBH....I'm more interested in the reserves upgrades to Rio.
Lots of clues with previous statements on self processing plant and upgrades.. The ongoing drilling programme should be fully updated by end of Q1....Has been ongoing for yrs
HAA would have issued half a dozen RNS by now.!
(Read the reserves and exploration sections)
hxxps://atalayamining.com/wp-content/uploads/2018/07/RioTinto-July-2018-Complete-Report-Rev-6.pdf

Galician Gov still looking at process, has been ongoing for months.

hxxps://www.galiciapress.es/texto-diario/mostrar/1677763/pp-rechaza-pedir-xunta-deniegue-autorizacion-proyecto-mina-touro-porque-seria-prevaricar





Also ....CANA sent a flash note out this week..Still on BUY @380p

ATYM mined and milled 2.3Mt and 2.9Mt, respectively, in Q4 at grades of 0.56% Cu and a
copper recovery of 83.58% to yield 13,527t of copper. This record figure was 28% higher
than the 10,568t produced in Q3 19 and 21% higher than the 11,172t produced in Q4 18.
For 2019, ore mined was 10.4Mt (2018: 9.8Mt) and 10.5Mt (9.8Mt) was milled. Ore grades
were unchanged at 0.49% Cu, and recoveries were a little lower, 87.09% vs 88.30%. Fullyear copper production was 44,950t compared with 42,114t in 2018