Atalaya Mining Share Discussion Threads

[qs99] 16/3/2021 08:01

Bit odd to have historic director sales now reported? Suggests poor governance no?

DYOR

[robmcelf2] 15/3/2021 17:24

This could be the start of some good news flow. Atalaya are due to update the market on a few things like resources upgrade, ELIX, end of year results etc. I guess we may also get the latest position on Touro. All hopefully while copper stays over $4 per lb..

[waterloo01] 15/3/2021 16:28

And it's the only debt the company currently carries.

[nedludd] 15/3/2021 16:21

Borrowing over the next few years at 2% makes sense to me.

If you are optimistic about the potential growth in the company over the coming 2 years and onward, the repayments will become more and more a relatively insignificant proportion of their costs.

The loan is unsecured. An arrangement like this would normally require it to be backed up by collateral so a very supportive and confident attitude shown by the lender IMO.

[qs99] 15/3/2021 14:41

thanks LLB....volumes shows this is still below the radar IMO

DYOR

[waterloo01] 15/3/2021 14:09

Great stuff.

[leopoldalcox] 15/3/2021 14:08

I've refrained from buying any more since 2017 because I thought the deferred consideration would put off investors. I'm happy the company have taken this step, which should allow more freedom in the balance sheet and possible allow for dividends to be paid. Topped up today

[laurence llewelyn binliner] 15/3/2021 13:58

Uptick payments still payable over USD3.00/lb Copper, marketing fees per DMT payable to Astor, but a great step forward nonetheless... :o)

But does it now unlock dividends on the deferred consideration settlement stand alone, with Touro to possibly build, and Masa Valverde to pay for...?

2% on bank debt is a testament to the strength of the project/company though, and the impact of 4 dollar Copper.. :o)

[gekks] 15/3/2021 13:58

& also the banks are lending unsecured - another good sign as they must have been presented with robust financials.

[qs99] 15/3/2021 13:55

borrow at 2% over 2-3 years as they said? Why wouldn't you? DYOR

[lanty33] 15/3/2021 13:51

`would of?`

[brockwl2] 15/3/2021 13:48

Yes good news. I'm surprised they have decided to borrow to pay back though. Would of thought could have been done from cash flow, in a few months. No details on how much was borrowed either.
I'm guessing the mention of future potential dividends is the share price driver today.

The fact they have chosen now to pay up, may suggest they have plans to expand, and have something in mind soon.

Cheers

[robmcelf2] 15/3/2021 13:43

Special dividend now possible...

[gekks] 15/3/2021 13:38

Wow that is fantastic news ! Guess some knew already ....

[qs99] 15/3/2021 13:36

Boom, great news indeed.....onwards for new funds for projects and hopefully divis.....DYOR and looking forward to bagging again and again here as copper price hits new heights with the demand out stripping supply....DYOR

[sithuk] 15/3/2021 13:33

RNS. Astor has now been paid in full.

[robmcelf2] 15/3/2021 12:28

Share price moving on nicely

[davidpqzz] 11/3/2021 21:55

Goldman Sachs have predicted a range of prices for copper in 2021. Would anyone care to comment?

[qs99] 11/3/2021 18:25

really interesting thanks

[lasata] 11/3/2021 17:47

Today...........DL knows the copper market better than anyone.

David Lilley, who founded the commodities investment management company, said during Fastmarkets' Copper Seminar that the metal is coming off a long bear market and money simply was not invested in the space. “I’m not forecasting prices, but it is a dangerous environment where everything is pointing in the same way – the investors want [copper exposure], they haven’t got it and the physical industry is really tight,” he said. “I’m certainly nervous, whether nervous is the right word, that markets like copper which have largely been behaving rationally, could behave irrationally. I think that’s something that anybody who runs a copper business has to think about,” he said, noting the potential stresses on working capital that could arise. Copper prices have soared in recent months, with the three-month London Metal Exchange price reaching new multi-year highs above $9,550 per tonne, roughly double year-ago levels. According to Lilley, large sections of the investment community..

[lasata] 11/3/2021 15:42

Looks like the healthy correction is over........

[qs99] 11/3/2021 15:24

Can't even by £1k, DYOR

[tommyttrades] 11/3/2021 14:31

Would have thought there will be news on current exploration/ upgrading in Andalucia...Should have full data by now.

Possibly formal presentation of Touro development plans addressing the two issues flagged up ..

ELIX ....further news on engineering study

Masa Valverde ....ongoing



From 14th Jan 21 operations update.....



· An independent consultant is finalising the Cerro Colorado open pit reserve and resources update taking into consideration the exploration results with current copper prices, operating costs and geotechnical parameters.

· An independent evaluation of the historic polymetallic San Antonio/Planes deposit has begun. This shallow deposit is located East of the open pit Cerro Colorado, which is currently being mined, and would require underground mining methods.

· The independent evaluation of the resources at San Dionisio, West of the Cerro Colorado pit, is ongoing. Current indications show there is good potential for it to be mined with a combination of open pit and underground methods. San Dionisio contains copper as well as polymetallic mineralisation.



Growth projects

Proyecto Touro

· Atalaya has yet to receive formal communication from the local government in Galicia rejecting the plan to develop Proyecto Touro. The Company is expecting the communication during Q1 2021. Once received, Atalaya will evaluate its options to address the feedback from the Xunta de Galicia.

· The Company continues to be confident that its world class approach to Proyecto Touro, which includes fully plastic lined tailings with zero discharge, will satisfy the most stringent environmental conditions that may be imposed by the authorities prior to the development of the project.



Masa Valverde

· Work has started, and will continue through 2021, on general permitting and new geophysical surveys. Additional drilling will continue and first scoping studies are also planned during the year.



ELIX update

· An engineering company has been engaged to carry out a feasibility study for an industrial plant using a third-party-patented ELIX System followed by conventional SX-EW.

· The ELIX pilot plant is fully operational and is gathering real data to be incorporated in the leaching section of copper and zinc concentrates.