Atalaya Mining Share Discussion Threads

[mip55] 03/11/2020 16:21

From the Q3 Operations update RNS dated 15 October Cash operating costs for the Period are expected to be slightly below the 2020 cost guidance ranges previously provided. Further details on costs will be provided with the Q3 Financial Statements to be reported in late October 2020.

[vish65] 03/11/2020 16:21

The big trades all look like rollovers to me.However copper back up at $3.11.

[saintb] 03/11/2020 16:03

The company may have said financials by the end of October although I must have missed it, but if you look at the Atalaya Website at "Investors-Financial Calendar" it quite clearly says the announcement would be w/c 16th.November.

[robmcelf2] 03/11/2020 15:38

Lots of big trades?

[mip55] 03/11/2020 14:12

Emailed investor relations

[laurence llewelyn binliner] 03/11/2020 13:40

#mipp55..., interesting, can I ask where this intel came from...?

[mip55] 03/11/2020 11:34

Q3 financials not being released till 19th apparently

[laurence llewelyn binliner] 02/11/2020 13:04

#Charlieeeee, see my above post 14735, but my reading is, the FS is for a new plant to produce 10,000 Tonnes of Copper, and to process around 60,000 tonnes of concentrate, which is 22% Copper.., up from the current pilot plant which process c2000 tonnes a year, so it needs to be a whole lot bigger (*30 capacity)

[charlieeee] 02/11/2020 11:02

To some extent, the Q3 financials are probably "old news" and this latest development is making more of the reserves that we do have.

Up there with the "big boys" in advancing technology, but no mention of Eva Lain (who has a brilliant academic record: to call it first class does not do it justice).

"The primary sulfide minerals of copper have been difficult to leach for the purpose of direct copper extraction. In particular, chalcopyrite has been observed to undergo a type of “passivation” under a variety of oxidative leaching conditions.Over the last 10–15 years, a variety of biological and chemical leaching processes have emerged for overcoming the passivation of chalcopyrite. A number of these processes are now entering commercial production or are approaching this status. The BIOCOP™ process of BHP Billiton has now been commercialized at the Alliance Copper plant in Chile. The Total Pressure Oxidation technology has been implemented by Phelps Dodge at Bagdad, Arizona. The Mt. Gordon copper process and the Sepon copper process both use autoclave processes in the overall metallurgical circuit. In the Mt. Gordon circuit, the autoclave was used to leach copper while at Sepon the autoclave is used to produce acid and ferric sulfate to meet the requirements of an atmospheric leach. CESL and CVRD have completed a feasibility study to apply the CESL copper process in Brazil. PLATSOL™ technology for copper, nickel, cobalt and precious metal recovery is now under final feasibility study for application by PolyMet Mining at the NorthMet deposit in Minnesota, USA.The number of available options for copper recovery from primary sulfides is multiplying. In addition to the above options utilizing stirred reactor leaching, a number of heap leach options for primary sulfides are also emerging. For this paper, the various processes for copper extraction from concentrate were reviewed, including the underlying mechanisms of leaching, followed by a comparison of the advantages and disadvantages of selected process options."

From recollection on the old scoping study, it was a tale of two halves: lower grades and easier to extract and higher grades, but with penalties. If this is a means of addressing that, then it is highly significant as a development.

Am I reading it wrong, to say the scale up is from 2 000 tpa to 10,000 tpa?

( I get that from 250k p hour and it roughly xchecks with 5t p day, but is that capacity or output?)

[mip55] 02/11/2020 08:41

The problem is that it's the last two promises they have failed to keep in a row. Both statements rely on 'by the end of....' wording. Clearly the bean counters and the PR people need to start talking to each other and come up with concrete, realistic dates and abide by them if the company is not going to seen as one which cannot be relied upon to keep its promises.

[robmcelf2] 02/11/2020 07:33

To be fair it's very unusual for Alberto and the team to miss 2 dates they communicated to the market. First they said reserves update by end of Q3 and then Q3 financials by end of October. Not sure what's going on and it is strange on the financials promise given that they normally occur in the following month....

[mip55] 02/11/2020 07:22

Disappointed that the company has not followed through with its promise to release Q3 financials by the end of October- poor PR and, had the copper price not been up where it is, the delay may have been interpreted as a red flag.

[laurence llewelyn binliner] 31/10/2020 09:41

Our Ore is c0.44% Copper, recovery rate ranges between 84-86% and we produce a 22% Copper concentrate, the new E-LIX process recovers well over 90% of the Copper in the concentrate or effectively 90%+ payable Copper and deals with the impurities which the smelter applies penalties to..

Current payable Copper after smelting costs, impurity penalties and after Silver credits is 95.5% so smelting fees are -4.5% historically but with Silver now so much higher I am very much looking forward to seeing the payable price vs the spot price to do a comparison from the Q3 financials next week..

The new E-LIX process needs to recover 95.5% or more from the concentrate to be as efficient financially and cost less to run than the total of our smelting fees over a year, less the trucking costs, and any Silver the new process can recover ..? or is it lost..?

There is a lot to consider which is why it is going to cost EUR1M to do the FS, not my 10 minutes of free thinking time here.. :o) but if the new study results in a plant build to produce 10,000+ tonnes of Copper cathode, then that equates to c60,000 DMT of concentrate less to move around so it is diesel and environmentally efficient if nothing else....

[edit] October Copper USD3.05/lb

[charlieeee] 31/10/2020 09:12

Exactly right, Scargs.

Part of the "pitch" on the state of the art laboratory is that it would provide an ongoing business and high skilled technical jobs in a mining district

The solar will also provide a legacy business.

Now this bold third strand to enhance the profitability (and hence extend, as you say) the of later life of mine and continue beyond.

Ultimately, a center for innovation and excellence in mining related technology.

[scargs] 31/10/2020 08:49

E-LIX System

This has the potential to add huge "Added Value" to ATYM. The Euros 1,000,000 budget for the Feasibility Study is money well spent as potentially the new plant would process the tonnage that is NOT currently identified in the Rio Tinto Reserve and Resources + the tonnage at Vervelde. In addition there is the potential to do deals with other mines in Southern Spain and Southern Portugal.

These are early days but the potential is huge and would obviously extend the life of Rio Tinto.

Good to see 3 late trades reported yesterday after the bell.

22,558 @ £1.75.

65,000 @ £1.80.

55,290 @ £1.772716.

Scargs

[laurence llewelyn binliner] 28/10/2020 18:48

#robmcelf2, same here...

Nobody noticed the 4 big trades printed 725,000 total at 175.5p (GBP1.3M)..? quite likely to be what has been holding the share price back while they were being filled on such low daily volumes..? and the timing to print those the day before the numbers are due is uncanny, lets see what the financials have to say in the morning hopefully, the FS for the new cathode plant roll out would have got lost in the numbers if it was not released in a separate RNS .. :o)

[edit] Q3 financials possible tomorrow, more likely next week.., but an October Copper price average of 3.05/lb is a great start to Q4..

[robmcelf2] 28/10/2020 18:11

Hopefully ATYM will report Q3 financials tomorrow?

[charlieeee] 28/10/2020 07:54

Ha ha .....

What will AL think of next?

I do remember when I visited the site laboratory back in 2015 that it was state of the art, striving for excellence and innovation: indicative of the attitude of the man in charge.

So much evidence of that ongoing: the plant working like clockwork,solar, now progressing to include final stage processing with new technology: a perfectionist always looking to improve something.

Who thought AL might get bored!

[laurence llewelyn binliner] 28/10/2020 07:53

Erric, I can hear them grinding too but perhaps with the solar and the E-LIX projects the potential delays will bring Astor to the table to cut a deal and reduce the overall cost to us.., the next hearing should be this week, but the trial would be in 2021/22..Could be a useful negotiating tool...!

[erric] 28/10/2020 07:49

I can hear the gnashing of teeth as Alberto provides yet another production cost to avoid paying our Astor debt for a bit longer.

[robmcelf2] 28/10/2020 07:13

They kept that one very quiet indeed - sounds very promising!!

[laurence llewelyn binliner] 28/10/2020 07:12

I didn't see that coming either... :o)FS in a substitute E-LIX plant to smelting, erasing concentrate transport costs, smelting costs, and emissions...

[rougepierre] 26/10/2020 13:16

I hope anyone who followed me into VAST saw my post last week...

Just had an uneasy feeling...dumped the lot...much better here...

AIMO as usual...

[rougepierre] 22/10/2020 17:15

Oversold...may buy some more tomorrow if we're still at these levels...

Cheers...

[charlieeee] 22/10/2020 16:26

O/T

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