Atalaya Mining Share Discussion Threads

[charlieeee] 22/10/2020 16:26

O/T

Vaste looks a two bit operation...and what are you making of Solg price action?

[rougepierre] 22/10/2020 11:16

O/T in case any of you followed me in...

Have sold up VAST for a small profit

Good RNS this am but market not enthused. 21/22 looks good but I fear a rights issue.

Apologies for O/T just keeping you informed...

Meanwhile, still think the Masa Valverde deal is brilliant for ATYM...

[erric] 21/10/2020 20:58

And copper just keeps rising slowly and inexorably

[robmcelf2] 21/10/2020 18:52

And the good news is ATYM seem to have a great relationship with the Junta de Andalucia which is crucial in permitting. They have built stronger green credentials to combat the almost inevitable environmentalist objectors. Maybe the deposit is bigger than initially indicated with more exploration? If only we could get touro going as well we would be really motoring!! Great stuff.

[laurence llewelyn binliner] 21/10/2020 17:26

#Sithuk, yes, but polymetallic and almost 6 times as profitable lb for lb.. :o)

[rougepierre] 21/10/2020 16:06

Meanwhile, If anyone is interested in a leveraged gold/silver play while we wait for the cows to come home here, you might like to review my analysis on the GPM Board...

AIMHO as usual...and DYOR of course...

[rougepierre] 21/10/2020 16:05

Oops...left out the Horizon Masa Valverde page link...

Its inserted now, but here it is anyhow...

hxxp://www.hmgl.uk/spain.html

[waterloo01] 21/10/2020 15:21

The ability to move it by road to process at Rio Tinto would be an excellent low cost option

[sithuk] 21/10/2020 15:19

66MT is around 4 years of added life for ATYM?

[waterloo01] 21/10/2020 15:06

Alberto hopefully played another blinder with a low risk investment that leverages the skills and time in the team. Look forward to the full details but looks like a good move. Will they raise to fund or out of cash?

[qs99] 21/10/2020 15:00

CAML also moving up nicely with copper price DYOR

[laurence llewelyn binliner] 21/10/2020 14:56

#RP, value accretive...?, just a bit..66MT, at 2.67% Cu equivalent...., that's almost 6 times the revenue per tonne of our our current activities... :o)..

[qs99] 21/10/2020 14:54

$ looking weak as well IMO helping commodities...DYOR

[vish65] 21/10/2020 14:50

Thanks for sharing this RP

[rougepierre] 21/10/2020 14:30

This has to be massively value accretive in the long run...market not yet woken up to this...

AIMHO as usual...

[rougepierre] 21/10/2020 14:26

Cambridge Mineral Resources entered into a JV with Horizon Mining Group.

Here's the key link on their website...

hxxp://www.hmgl.uk/spain.html

The map at the bottom of the page is relevant.

The "major mining group" is Glencore...

hxxp://www.hmgl.uk

Horizon Mining is a subsidiary of Horizon Corporation

Brad Rawson is CEO

Looks like Horizon Corp wanted to liquidate their non-performing asset...

[laurence llewelyn binliner] 21/10/2020 13:57

#RP... good finds thanks for sharing, I was sure there would be a royalty, but unsure to who, a 43-101 ready deposit(s) is a very valuable project to pick up for next to nothing..

So GLEN now retain the full 1.5% NSR having earned into 100% of the CMR share..?

[shortarm] 21/10/2020 13:51

I had 55 grand in CMR!

[rougepierre] 21/10/2020 13:49

From Huelvahoy December 2013: Look at those tonnages...

The mining exploration and production company, Cambridge Mineral Resources PLC, through its Spanish subsidiary, Cambridge Minería España SL, has been awarded the exploration permits for mining resources in the Masa Valverde area, granted by the Junta de Andalucía already those who opted at the beginning of 2013 several companies in the sector.

The permits cover an area of ​​38.71 km2 of the sulfide deposit located in the Masa Valverde polymetallic volcanic zone, in the central part of the Iberian Pyrite Belt. This deposit has fissure deposits of massive sulphide and copper. The company estimates that this area has geological resources of approximately 100 meters and 50 meters of ore, respectively. According to the forecasts that the company manages, the area is home to some 500,000 tons of zinc, 60,000 tons of copper, 150,000 tons of lead, 16 million ounces of silver and 300,000 ounces of gold.

The planned investment in Masa Valverde, which will amount to six million euros, will generate 40 jobs in this research and exploration phase. This amount, in addition to the significant revitalization that the project will have in the economy of the region, will benefit the autonomous administration through tax revenues. In the same way, the winning company will take care of a training program in coordination with the Provincial Council for people in the area, as stated in its offer.

Likewise, the company has signed an agreement with Glencore International by virtue of which the latter will finance and develop the research work in the area necessary to continue defining the mineral resources of the same.

For the director of CMR, Geoffrey Hall, "the Iberian Pyrite Belt houses the largest accumulation of massive sulfide in the world and Masa Valverde represents one of the largest unexploited sulfide deposits in Western Europe". Hall, who has presented the project in the Provincial Council of Huelva, accompanied by its president, Ignacio Caraballo, the delegate of the Andalusian Government in Huelva, José Fiscal, and the Territorial delegate of Economy, Innovation, Science and Employment, Eduardo Muñoz, has highlighted the alliance with Glencore, "a first-class company with extensive experience both in mining and in the trade of raw materials."

For the president of the Provincial Council, Ignacio Caraballo, "this is the most important mining project in the province of Huelva and denotes the future of this sector in our province." "An important mining project - he said - that is accompanied by another large company such as Glencore Internacional and that guarantees its ability to generate wealth."

For his part, the delegate of the Andalusian Government in Huelva, José Fiscal, has encouraged companies in the sector "to turn their gaze to the province of Huelva" and has been convinced that "this activity can be a shock to the province ”.

The Territorial Delegate for Economy, Innovation, Science and Employment, Eduardo Muñoz, has welcomed "a modern mining company that will carry out a work that is socially committed to the territory in which they operate."

With Masa Valverde, the company significantly increases the asset base at a time when the prices of base metals and precious metals are at levels that can be classified as the highest in history.

CMR also has other acquisitions planned in Andalusia that will further develop its Spanish property portfolio.

About Cambridge Mineral Resources PLC

It is a new exploration and mining company. It is mainly focused on the exploration and production of gold and base metals in Spain.

The company has a growing portfolio of mining projects in different phases of commercialization, which reaffirms its strategy of offering investment opportunities with upward potential to interested parties.

[rougepierre] 21/10/2020 13:44

Masa valverde is only 42 minutes away by road on the way to the port of Huelva, from which Ataklya ships...

Terrific synergies...

[erric] 21/10/2020 13:38

Good research RP - Thanks

[rougepierre] 21/10/2020 13:38

In light of the above, I'm guessing Traf may have had a major part to play in this...

From the CMR website...

"Cambridge Mineral Resources Plc is a junior mining exploration and development company founded in 1992. Our main focus is the Iberian Pyrite Belt in southern Spain where we have a royalty-interest, alongside our former partners Glencore, in the Masa Valverde major copper-zinc deposit near Huelva, which is now under development by a third-party. Masa Valverde is thought to be one of the largest unmined polymetallic deposits in western Europe."

AND

"The Masa Valverde polymetallic volcanic-hosted massive sulphide deposit is located in the central part of the Iberian Pyrite Belt in south-western Spain, approximately 70km from Seville and 40km from the port of Huelva. CMR’s permit covers an area of 14km2.

The deposit was discovered in July 1986 by the consortium Peñarroya-ADARO, a former Spanish State-owned mining company, after drilling a geophysical residual gravity anomaly of 0.8mGal extending over 1,000m x 850m in an area of steep topography. A total of 25 drillholes were completed between 1986 and 1993 of which 19 tested the main gravity anomaly and 6 to test satellite anomalies. A total of 13 of the 19 holes intersected massive sulphide and 3 holes intersected a well-developed stockwork.

The drilling to date has defined a body of massive and stockwork sulphides covering an area of at least 1,200m by 200m, lying within an anticlinal axis and plunging 30º northwest from depths of about 430m to 800m. The mineralized envelope is effectively open in all directions.

CMR has evaluated the geology, geochemistry and geophysics of Masa Valverde and estimates the massive sulphide and cupriferous stockwork ore bodies to have resources of approximately 100Mt and 50Mt of ore respectively.

A preliminary resource model developed by CMR technical staff has calculated the following Inferred Resources (massive sulphide and stockwork):

Cutoff Tonnage Cu% Pb% Zn% Ag g/t Au g/t
3.0% Zn 12 Mt 0.57 1.28 4.30 41.9 0.86
0.5% Cu 80 Mt 0.76 0.38 1.28 22.4 0.43
1.0 g/t Au 16 Mt 0.45 0.86 1.49 46.1 1.26
Potential also exists for a high-grade deposit in the adjacent area of the massive sulphide mineralization as well as for upgrading and extending the stockwork mineralization.

CMR has joint-ventured Masa Valverde with a major mining and commodity-trading group. An extensive program of investigation works is underway to further define the mineral resources."

Those are the sort of copper grades Alberto is used to working with...

[waterloo01] 21/10/2020 13:33

It might not have cost them much or anything if they are putting up the development costs.

[rougepierre] 21/10/2020 13:30

From CMR Chairman's Blog...note the EMED reference in July 2014...

June 2013

I am delighted to report that it has been officially announced by the Provincial Mining Authorities in Sevilla and Huelva, Spain that a highly significant mining permit to exploit metal resources at Masa Valverde in Western Andalucia has been awarded to Cambridge Mineria Espana SL, a wholly owned subsidiary of Cambridge Mineral Resources Plc. A company press release has been posted elsewhere on this website, giving further details of the awarded permit.

The award of this permit is the culmination of many months of hard work by the executive directors of CMR, and as chairman and on behalf of shareholders I thank them warmly for their intense efforts. Senor Navalon has carried out very important work, establishing a visible and positive presence for CMR in Spain; Michael Burton and Mark Slater have worked tirelessly to enable CMR to step up and exploit this new opportunity.

In the near term CMR will seek to fund the initial work on the permit by signing a Joint Venture Agreement with an International Mining Major. who would finance the first exploration phase on Masa Valverde and thereby earn-in to a share of the project. This is a commonly used source of funding for junior mining companies, and will allow Cambridge to prepare itself for the future. The company will be identifying further additional mining projects in the Masa Valverde region and will seek to expand operations thereby creating a regional mining business with a wide range of metal resource and a balanced future cash flow profile.

CMR will be undertaking a minor fund raising programme immediately to finance the company’s expenses over the next few months, and In order to pay our way in the later stages of the Masa Valverde project, CMR will need to consider a more substantial fund raise. This may include an IPO and a return to the markets, or there may be alternative ways forward. The Masa Valverde project is going to transform CMR into an active mining company once again.

January 2014

There has now been substantial multi-media publicity concerning Cambridge's ("CMR")successful acquisition of the Masa Valverde concession. Both I and Jose Navalon have appeared on local television and in the press, alongside members of La Junta de Andalucia to publicise the award.

CMR shareholders will be pleased to know that a project manager has already been appointed to manage the joint venture established with Glencore International to develop Masa Valverde. The project is to be managed within CMR's wholly-owned Spanish subsidiary Cambridge Mineria Espana SL. Glencore will finance and control the project, and CMR's interests will be represented by regular project management meetings, comprising Glencore and CMR executives.

Masa Valverde is a very large and also a long term project, and the CMR board is actively seeking to bring in other mining concessions in Andalucia, which we would intend to develop and bring into production in a much shorter time frame. Negotiations are continuing with the current owners of a number of existing concessions, which are not subject to public competition. CMR is optimistic that we shall acquire options over some of these very soon. With a portfolio of mining interests that will deliver cash flows in both the nearer term and longer term, the board believes that CMR will once again become a highly focused and coherent Andalucian mining company.

July 2014

Progress at Masa Valverde proceeds under the management control of our Joint Venture partners, Glencore Xstrata. Current activities include geophysical surveying ahead of the drilling programme due to commence in September.

In June we, together with EMED (Rio Tinto mine) and Matsa (Aguas Tenidas mine), presented our plans to the local communities in Beas in an important event hosted by the Ministry of Economy and the mayor. With these communities providing personnel, goods and services to each of us we felt it was important as part of our social responsibility policies to present our plans for information and discussion.

October 2014...struggling...need an IPO...

Since my last blog, work has continued at Masa Valverde. The geophysical and related work has taken longer than planned but that is time well spent in order to maximize the efficiency of the drilling to follow. Our partners Glencore are currently finalizing infrastructure arrangements necessary for drill rigs to be able to move on to site in the next few weeks. Masa Valverde is a very large polymetallic deposit in the Iberian Pyrite belt, and we are expecting to learn more about the extent of the ore body, and the mineralization from the drilling programme due to start in the very near future

At our other concessions in Huelva province, our technical team has been developing our knowledge base on these properties whilst we await the issuance of our drilling permits. CMR has high hopes that these concessions, all of which are 100% attributable to our company, will prove to have attractive ore bodies. We plan to commence drilling at one location very shortly, and other concessions are being evaluated by our consultants.

It remains our firm intention to seek to refloat CMR, and to achieve this the company has been advised that our Masa Valverde interest, together with a satisfactory formal resource report one of our separate concessions will be necessary. Consequently once we receive satisfactory drilling results on one or more of our Huelva projects we will be commencing the process towards floatation.

July 2015

Operationally, the company is now in suitable shape for an IPO. Firstly, our joint venture at Masa Valverde is proceeding as planned, and indeed, is slightly ahead of schedule. There are currently several drill rigs on site with three of them working 24/7. The drilling programme results confirm CMR’s previous data and the attractiveness of the Masa Valverde resource.

December 2015

Our joint venture Masa Valverde project has advanced over 28,000 metres of drilling and our partners exercised their option to take 40% of the business. The ownership situation at Masa Valverde is under constant review, and this may change shortly.

December 2016

The exploration permit for Masa Valverde is held by our Spanish subsidiary Cambridge Mineria Espana SL (“CME”). As you know, CMR has an Investment Agreement with Glencore under which Glencore could earn-in to CME by way of their funding of expenditures; at the same time CMR had the option to match Glencore’s funding in order to retain our share of CME according to milestone levels. However, CMR has not been able to raise further finance in the current harsh climate in commodity markets and mining, and thus could not contribute any funding to CME and therefore Glencore has now completed its earn-in to 100% of CME. That leaves CMR with its entitlement to a 1.5% Net Smelter Return (Royalty)on Masa Valverde. This is potentially very valuable if and when Masa Valverde goes into production at some stage in the future and indeed it underpins the share capital value of CMR. Currently Glencore is evaluating the results of its drilling campaigns at Masa Valverde. A great deal more work is required to take Masa Valverde towards production for which there is no certainty in these volatile economic times. We therefore await further news.

February 2018

Glencore, having completed its work following the exploration phase, decided to transfer its main interest in Masa Valverde to a third-party, with a view to the development and production phases being taken forward from there. Glencore has retained a NSR royalty alongside that of CMR’s NSR royalty. An independent 43-101 study of Masa Valverde has recently been completed and plans are now being made for the next steps. We await developments. As previously reported, our royalty is potentially extremely valuable as and when Masa Valverde enters production.

June 2019

We, together with Glencore, retain a royalty interest in this exploration-stage project. We await developments on this project by the current owner, which we will announce as and when they arise.

May 2020

We, together with Glencore, retain a royalty interest in this exploration-stage project. We await developments on this project by the current owner, which we will announce as and when they arise.