Atalaya Mining Share Discussion Threads

[charlieeee] 21/10/2020 09:04

Once a second project is running, particularly having synergies with Rio Tinto, it becomes impossible for 3rd parties to identify excess cash.

What stops the company buying for Rio Tinto and then transferring it as surplus and at second hand values/zero to Touro or even easier, just up the road? Will grades "mysteriously" drop, once "new co" becomes operational?

Astor are plugging holes in a sieve, one at a time.

If it was not a matter of ego, all parties would be better with a deal and move on.

[mip55] 21/10/2020 08:50

More pressure on copper prices.....from Antofagasta this morning Group copper production for the first nine months of the year was in line with expectations at 541,300 tonnes, 7.3% lower than in the same period last year mainly on expected lower grades at Centinela Concentrates.....

[mip55] 21/10/2020 08:41

It is indeed the English High Court and it is worth re-reading the judgement which will explain how we get round paying for this project:By reason of clause 6(g)(iv) of the Master Agreement, however, other than up to US$10m a year if required for EMED Group expenses not related to the project, EMED Tartessus cannot make any distribution or any repayment of the money lent to it by EMED Holdings and must apply any excess cash to pay the Deferred Consideration, until it has been paid in full.

[sithuk] 21/10/2020 08:13

Isn't it the English high court that is ruling on Astor, not a Spanish court?

[waterloo01] 21/10/2020 08:10

Good point.

[erric] 21/10/2020 08:08

Waterloo- I don’t think the cash is an issue because we don’t even pay 50% until permissions are granted and by then the English Courts (thanks Sithuk) should have given a definitive opinion on the “Astor Cash”

[gisjob2] 21/10/2020 07:40

Mass Valverde used to be a Cambridge Mineral Resources project, for those on here old enough to remember that disaster !

[laurence llewelyn binliner] 21/10/2020 07:35

#waterloo01, now it becomes clear why we are heading to court for a definition of 'excess cash'..But for the price, it looks like they got it for next to nothing..., maybe a cash flow royalty, but I have not seen it mentioned in the terms so far...

[waterloo01] 21/10/2020 07:24

Erric, that was my 1st thought as well. 2nd is how are they paying for it under 'excess' cash?

[erric] 21/10/2020 07:23

That will keep Alberto busy for a while.
So much for the worries about him leaving because he will be bored by just a brilliantly functioning copper mine.
Strong moves on copper in the last week surely can’t be just a reaction to a few strikes around the world so that is encouraging for the final quarter.

[laurence llewelyn binliner] 21/10/2020 07:06

Well, I did not see that coming... :o)Atalaya Mining plc (AIM: ATYM, TSX: AYM), is pleased to announce that it has entered into a definitive purchase agreement to acquire 100% of the Masa Valverde polymetallic project located in Huelva, Spain ("Proyecto Masa Valverde" or "Masa Valverde") through the acquisition of 100% of a Spanish company (altogether the "Transaction").

[qs99] 20/10/2020 19:08

will take a look, thanks RP

[rougepierre] 20/10/2020 18:53

Hope some of you followed me into VAST...up 10.5% today...more to come?

[leopoldalcox] 20/10/2020 16:24

I bought at 183 in 2018.When copper was lower and production was lower and Touro was less exploredSurely this will push above 2 quid if copper stays around 3 usd?!They should be making 100m usd operating profit

[qs99] 20/10/2020 15:44

thanks LLB, appreciate the response.

Good afternoon to you

QS99

[laurence llewelyn binliner] 20/10/2020 15:41

#QS99, it is frustrating, but the progress the company is making is not yet reflected in the share price ., my take on it is with such thin liquidity we have a seller(s) reducing into any small rise.., sooner or later they will clear and the brakes will come, we have seen it before, but more patience required currently and if we see a TR1 we will know who it is...The company is making big strides forward, next news at month end....

[qs99] 20/10/2020 15:21

copper heading North on futures, yet ATYM heading South, really don't understand this share if it should be making so much EBITDA, why has it gone down 20%+ from recent high? Opinions v. welcome!

[laurence llewelyn binliner] 20/10/2020 07:59

#VISH65, yes that got my attention too from the last RNS, ref using the extra flotation capacity to drive efficiency, 2020 so far, has delivered 0.45% against a 0.48% from the updated DFS, so we can expect grades to go up with some spill over of the 0.52% grade into 2022 as well...

2021 has the potential to over deliver on many fronts with recovery efficiency improvements, we also now know the plant can run at 16MTPA, with USD3 Copper, some higher grades and reducing AISC is a fine recipe to look forward to ... :o)..

We know the drilling is ongoing so RnR will not run out at year 14, in addition to the 20% upside from having USD3 Copper over 2.60 and the reduced cut off grade that comes with it..

[vish65] 19/10/2020 21:31

In 2021 the grade is predicted at 0.52 according to the mining plan so possibly 63-68,000 tonnes.Plus targeting improved recovery rates as per the last RNS

[laurence llewelyn binliner] 19/10/2020 19:31

#mipp55, Q3 financials by month end October, even better, the sooner we see where we are on costs, EBITDA and profits the sooner we can justify a higher share price, and then forecast for Q4/FY2020..

2021, 58,000 Tonnes, and USD3.00/lb Copper is going to be very profitable indeed.. :o)

[erric] 19/10/2020 12:03

Ha ha
Rouge I think you’ve taken leave of your senses engaging with the other board, particularly as the comments are over a year old.
Settle back down with your mates here.

[mip55] 19/10/2020 11:53

Or even earlier.......Further details on costs will be provided with the Q3 Financial Statements to be reported in late October 2020.

[rougepierre] 19/10/2020 10:29

OMG I just accidentally stumbled onto the other Bulletin Board...

Talk about idiots...what's Onions doing there?

Safe at last...

[rougepierre] 19/10/2020 10:27

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

"Poor outlook for metals prices..."

Please read the link I posted on the other site last week...

Copper prices ready to take off and set new all time highs soon...