Share Name Share Symbol Market Type Share ISIN Share Description
Atalaya Mining LSE:ATYM London Ordinary Share CY0106002112 ORD 7.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +0.25% 198.00p 196.00p 200.00p 198.00p 197.50p 197.50p 77,917 14:58:48
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 83.8 -0.1 8.8 21.8 268.24

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Date Time Title Posts
24/2/201814:36Atalaya BB without the idiots10,754
23/1/201813:55ATALAYA MINING - Spanish Copper (ex EMED)2,459
25/8/201715:01Atalaya Mining - Debt free Spanish Copper producer37
09/3/201618:50Atalaya Mining - Debt free Spanish Copper producer961
17/2/201614:09Copper-bottomed Dream7

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Atalaya Mining Daily Update: Atalaya Mining is listed in the Mining sector of the London Stock Exchange with ticker ATYM. The last closing price for Atalaya Mining was 197.50p.
Atalaya Mining has a 4 week average price of 183.50p and a 12 week average price of 155.50p.
The 1 year high share price is 201p while the 1 year low share price is currently 110.50p.
There are currently 135,475,650 shares in issue and the average daily traded volume is 235,164 shares. The market capitalisation of Atalaya Mining is £268,241,787.
tommyttrades: So Canna updated last week after the announcement... .I'll try and format some of the figs. later After the last note and drop in target of 270-50 they've upgraded to 260p Highlights below as in total 11 pages...OR can mail One of the lowest capital intensities in the industry The focus of this project firmly remains its impressive capital intensity. At a ~US$94m cost, ATYM plans to build the growth project at a capital intensity of just US$6100/t. That is not only below our US$7000/t forecast, but also one of the lowest capital intensities in the industry. On a cumulative basis, the total capital intensity of Riotinto should now come to just US$4600/t. Cash costs expected to drop Cash costs expected to drop 6-8% Management has also forecast operating costs to drop 6-8% post completion of the project, which we forecast in mid 2019. Under the previous 40ktpa mine plan, ATYM had forecast lower grades in later years of the mine plan resulting in an average all-in sustaining cost (AISC) of USc233/lb. Under the expansion plans, ATYM management now expects the average AISC over LOM to come in closer to USc218/lb, a 6% reduction, and at no point in the revised 13-14 year LOM are costs forecast to go above USc230/lb. Target price up 4% to 260p, maintain Buy rating We continue to value ATYM using a weighted average of shorter term P/E and EV/ EBITDA based valuations (using market and sector multiples, respectively) as well as a longer term NPV valuation (cyclical multiple). On this basis, we have increased our target price on ATYM by 4% to 260p/share on a 2018 basis, reflecting an improved longer term valuation in our NPV. However, we also note that when we look at ATYM on all valuation measures we think the Riotinto growth project provides significant medium term valuation uplift by 2020. ATYM management now expects the average AISC over LOM to come in closer to USc218/lb, a 6% reduction. It is also worth noting that at no point in the revised 13-14 year LOM are costs forecast to go above the USc230/lb mark. This creates a more steady cost profile going forward due to the flexibility of the expanded operations and newer and scaled up equipment in 55ktpa phase of the project. During the recent share offering the ATYM share price receded to 163p at its low this week. We now see 58% potential upside to our revised target. With significant potential upside to our revised valuation (on a 2018 basis), we maintain our BUY rating on ATYM. However, our 2018 valuation range is now significantly wider and weighted towards our NPV, due to longer term benefits from the Riotinto expansion. Figure 8 below sets out our more consistent 2020e valuation range with Riotinto producing at +50ktpa. Figure 8: Longer term valuations project further significant uplift forecast by 2020e estimates Value Value Method Multiple p/sh Weight Weighted P/E 11.3 212 33% 71 EV/EBITDA 5.4 223 33% 74 NPV 1.0 347 33% 116 Total 261 Value Value Method Multiple p/sh Weight Weighted P/E 11.3 393 33% 131 EV/EBITDA 5.4 360 33% 120 NPV 1.0 347 33% 116 Total 367
erric: With grateful thanks to SH on iii board, who is as enthusiastic an LTH as a lot of us and posts quite a lot of interesting stuff on the other website. I have copied and pasted the entire post as I have no aspirations to become an editor. " Weekend thoughts Even though it is now over a month since we have had an RNS, another good week with the share price continuing to climb. The copper price Finishing the week at $3.12/lb the momentum has continued upwards. Many analysts and some copper producers have said that the copper price has risen too far too soon and this may be the case. There is no doubt that hedge funds and speculators have played their part but the momentum is still positive. Yesterday China’s PMI figures were positive and in about 10 days we will get the August import figures for China, if these are positive I believe the upward trend will continue. Even if the copper price is currently too high, it couldn’t have come at a better time for Atalaya. As a newly producing copper miner this increased margin means they can get some good figures released and reduce debts. Risks For the last few years, aside from the copper price, a lot of the risks were internal. Will they get permits, the mining licence, will they have sufficient funds to survive through to production, the Astor Court Case and will the company be taken over by Trafigura. Now I believe the greatest risks, apart from Astor, are mainly external, the copper price, the North Korean situation and the risk of another financial crisis. Apart from the copper price the other two would affect your portfolio whatever shares you hold. Astor This is a strange one, it creates uncertainty, is a potential drag on the share price and effectively stops dividends until it is resolved. However the company do not see it as all bad, they have an interest free loan, on which they are currently making no payments. If an appeal is allowed they could potentially end up with a better result. The good thing is we should find out this month if the appeal is to be allowed, that applies to both sides. The €8m EU grant I know this has been written off by the company but that is just for accounting purposes. The company believes it has fulfilled the conditions correctly but the Junta disputes this. Atalaya has made a claim in the Administrative Court in Spain. Apparently these claims are common in mining and Atalaya has a quite good record for winning. The downside is they take forever but don’t write this off yet as it isn’t a dead duck. If a positive result is forthcoming down the road they could pay a special dividend of 5p a share (just my idea) News to come The Half Yearly Financials should be released this week, quickly followed by a September Investor Presentation. Following the financials we should start to get updated broker notes, as far as I am aware the share price has only passed the Mirabaud target price of £1.75, all the others are still north of the current share price. Given that most of those were written months ago, in the case of Mirabaud I believe a year ago, the new respective target prices should be an improvement on the previous ones. At the end of October we will get the Q3 Operations Update, we are in a fortunate position because each of the three quarters will be progressively better in terms of financial results, the rise in the copper price has guaranteed that. The technical report for Touro should be on its way as well and obviously the Astor appeal decision. The copper demand looks strong for the future and, whilst most analysts cannot agree about where the copper price is going in the short term, most agree that a copper deficit is coming. That will support the copper price and in turn the Atalaya share price. AIMHO "
stockready: Keis thanks for your line of wisdom, I am not here to enlighten you or anyone, nor I suggested you all don't understand the fundamentals. I was referring to our master hero Eric who seems to be on supper charger pulling figures out of hats and expecting people to follow, not to mention the ridicules thread he created and seems getting some satisfactions Moderating people who speak slightly different to his views. if you talk about double the share price from this point (without any proper justifications) that means you know nothing, I mean him and not talk about others, I have already highlighted challenges ahead of us, as well as potentials of adding more values here risk/rewards are go hands in hands, you have to invest back to grow if you want to stay competitive so please don't think we make profit here or production goes up and suddenly our pockets gets full of money or share price double, it wouldn't, there are loads of factors involve including the global market on copper price and copper performance longer term, as well as paying off debts (even if they don't have a senior debt). This lead us to understand how important and sensitive ATYM is to the price of copper (very much)before even talking about production increase. base on potential maintenance costs and some of the unforeseen costs related to the repairs which comes with the age of the plants as well as some of the upgrade costs which they have already talked about and we are paying for those and will all be taken out from the profits, you potentially can't assume double the share price from here without considering all sort of potential scenarios that I just discussed which some can completely put a stop in to production for months. Operating costs needs to come down at faster rate, reduce the working capital deficit so it is truly silly and ridicules to say we double the share price from this point on (which already kind of double in the past 12 months) base on production increase alone, really means you have no clues, no idea, no understanding of your investment here, and I am referring to Eric specifically not anyone else, so please don't be offended. if you ask me I say for the next two years at least they should not even talk about PROYECTO TOURO exploration project, the focus should be production and not throw money after such a costly projects with unknown results and lots of risks, I didn't like that and I already express that to the board. there is no doubt the company have more visibility now than ever before that what is attracting investors, and I hope they realise they have come such a long way before set foot on throwing money/profit after pointless project which we comes with lots of risks, if they want to add value focus should purely be delivery and production for now at least in the next 2-3 years to come before set foot into costly exploration. Astor case still hanging and potentially may effect us negatively, on the positive side, prediction for commodity price increase from March 2018 on wards is very positive , specially oil and gas and also metal price, it will not surprise me at if we go above $3.6/lb at the very short space (next 8 months) which will have a massive positive impact here, but I still say PROYECTO TOURO should be stopped and I already told Al about this but pressure is from higher up to keep that going. GLA IMHO
stockready: Eric, having invested here for many years, visited the site twice, know about the company inside out, this is the most ridicules comment (above) that I ever hear from anyone to date! this shows you absolutely have no idea of your investment here, you created a board "without idiots" moderating people comments thinking you are running a classroom and you are the most idiots of all who needs to be moderated with misleading comments and poor knowledge about this company. you are suggesting : double the share price without understanding the fundamentals! what will cause the double share price is NOT necessarily the production, do you remember this was still considered as explorer company till few years ago and even with production the share price still supressed and not moved, it has been excellent managements to bring it to this point and make the production line up and running at the minimum costs and lots of saving of using the old parts, still many issues underway as the production line goes to full swing and expands, as an engineer I fully understand the challenges ahead which you may not even have a clue with that stupid board you created it tells me you have no idea mate. anyway, what makes the price DOUBLE FROM THIS POINT ON WARDS are the price of copper nearly 4 as it was few years back, that is the deal breaker, not the production here, still lots of holes to fill and all the profits goes to debts or costs or explorations etc, it is a step forward but not the key to add value here SHORT TERM, longer term I agree this would have a impact but not short term (2-3 years). please stop talking about dividend and mislead people! that will not happen for at least next 6 years, you have no clue what we are up against here do you? no clue at all mate you can't MODERATE me here, so I say what I like and make people understand your stupidity of your unrealistic views it is great to see the share price going up, and remember the valuation is around £2.30 max, so will not push beyond that for now, and if it does is purely copper price related and not performance here! do some research, understand your investment before spouting comments like that in public board good luck IMHO GLA Stockers
scargs: waterloo01 I don't think Orion will be thinking about selling. Orion will be delighted to see the ATYM share price going up and they will be enjoying the ride but I cannot see them selling until they have made a healthy profit. Scargs
rougepierre: Bloomberg TV have just featured a major chart showing that "inflation adjusted copper" has broken sharply up out of a downtrend dating back to 2010!!! And surprise surprise, the hook at this end looks almost identical to the hook up in the ATYM share price...
acamas: rp, My opinions and comments have little effect on ATYM's share price. It is Traf's silence and non action towards the share price. They could if they wished be more proactive towards boosting the share price. To me it seems right now they do not want to engage with the share price for whatever reason. Plus I do attempt to be factual and offer a balanced view to the problem
langostino: rp - bb piffle neither damages nor enhances a share price. If supporting the share price is the reason you outpiffle the rest of us put together you are wasting your time. Play more golf. The share price will still do what the share price does.
rougepierre: Hi SBT and others...please read the following carefully... I've read every one of small holding's recent posts and also gone back and re-read every detail of the Q1 Results RNS. Apart from disgracefully failing to RNS the Astor Appeal for a month after it was lodged on 25 April 2017, there are some very revealing facts in the Accounts. Collectively these lead me to the conclusion that small holding is right that no payments will be made to Astor during 2017; further that this is a clever plan by ATYM almost certainly orchestrated with Indeed, given that the Company expects the Appeal to be resolved by the end of Q3 2017, this leads me to be certain that the plan is not to create a precedent by starting payments; and 'squeezing' Astor up to and beyond the Appeal. Furthermore, if profits are being restrained until after the Appeal, then ATYM will have the potential for a Bumper Q4 profit and cashflow to announce, either to soften the final Astor blow or, if the judgement is favourable, to give a double whammy boost to the share price .. 1 SH suggests that the Inventory is being deliberately built up and that may continue for the rest of the year. I concur completely and would go further, suggesting that production is being held back, for two reasons: First, I agree with SH's suggestion that this is a means to keep profits and thereby available cashflow down, so that Astor payments are not triggered. Second, on all reasonable expectations (and especially the Board of ATYM), copper prices should be significantly higher in a year's time. If copper trends higher during 2017 then we will be selling the accumulated inventory at a higher price than now and thereby making more profit. I believe the Board took a view on what sort of profit figure was acceptable for Q1 and left the rump in inventory. Remember, the Accounting Principle is that stock is valued at "the lower of cost or net realisable value"...i.e. in this case, cost. That leaves all the profit for the future. This also may explain the puzzlement about why the AISC isn't dropping. So...Cash cost is 1.83 (which means inventory value is low) and AISC is 2.15 (although it is STILL projected to drop to $2.00/2.10 in FY 2017...) So...profit is not accounted for until Inventory is sold; but the balance of AISC (i.e. $0.32) is accounted for as incurred, i.e. right now... So that's the first part of the ATYM Plan: keep profits reasonable, but defer as much as possible by means of building up Inventory, so as not to trigger Astor. But it goes much deeper than that... just read this core element of the Judgement carefully... "the Judgment requires that, in accordance with the Master Agreement, ARM must apply any excess cash (after payment of operating expenses, sustaining capital expenditure, any senior debt service requirements and up to US$10 million (for non-Proyecto Riotinto related expenses))" So there we have the incentive to make the Sustaining Expenditure as high as is reasonable until the Appeal is decided... There are no "senior debt service requirements", BUT.... ATYM is allowed to pay "operating expenses" before the Astor payments are triggered... And guess what...small holding has quite rightly identified that there is a "Working Capital deficit", but he has missed a very much important point... Trade Payables have been built up to a very high level... Operating Costs in Q1 were 11.498 million Euros, but only 7.15 million Euros were actually paid during the Quarter, leaving an outstanding balance of 61.716 million Euros, up from 49.309 million in Q4!!!! Now we have previously assumed that ATYM was using its Trade Creditors to finance the mine and working capital, but there were net Cash INFLOWS of 8.876 million Euros during the period and the Outstanding Cash Balance at the period end was 10.011m, up from 1.135m.... summary, it looks like ATYM has, with the support of all its major shareholders who have off take agreements, deliberately kept 19.434 million Euros of stockpiled copper (up from 6.195m!!) so as to defer profit and net cashflows... With the agreement of its Trade Creditors, deliberately held back payment they could have made, so that Trade Payables could easily exceed net cashflows for the whole of 2017 and beyond, entirely at the Company's discretion... Maximised Sustaining Costs to the highest legitimate level (maybe by front end loading), to keep profits down (but not cashflow, because most are not a cashflow item) And all of the above is legal and legitimate! And if you want the final kicker...while ATYM cannot repay any formal borrowings out of spare cash (they don't have any, anyhow), they can allow a build up of Trade DEBTORS, to keep available cash down...and guess what? Trafigura owes ATYM 4.139 million Euros... And indeed there seems to be nothing that I can see preventing ATYM from allowing Traf to build up this Trade Debtor, nor indeed asking Traf to make 'agency' payments on its behalf, e.g. progress payments for the Touro project... So all in all, this looks like a VERY SMART strategy by the Board and Management of ATYM (no doubt orchestrated by Traf), with just one catch... If it is Trafigura manipulating the share price to keep it down, with a view to a Bid, the reported underperformance would hold back the growth of the share price also and, supposing Traf made their bid after the settlement of the Astor Appeal, they would be getting all the held-up, accumulated value from the build-up of Inventory and the inflation of sustaining costs, and nobody would be the wiser.... And who's on the ATYM Board? The M&A Director of Trafigura.... AIMHO as usual and all observations welcome as usual...(not on the 'conspiracy theory CuFe...we've doe that one to death...)
acamas: LLB, We have always to my knowledge been undervalued. HAA was tub thumping this 10 years ago. However clearing all the potential booby traps out of our path the share price sits currently at 3p/4p old money. When one considers it was once at 20p old money or £6 by todays Then 128p looks like the bargain of the year or the dogs dinner. Without liquidity in The Market for this share I cannot see anyone rushing to purchase until Astor is out of the way and Tuoro is profitable in its own rights. Even then if our 4 major share holders stay united I do not see how an outside party can get a piece of the action. That is the chief reason for my departing the scene. There are two elements here The Company and The Share Price. Whilst The Company is good for the II. The share price is suffering a malaise. I fail to see harmony between The Company which has momentum and the share price which does not Please challenge my thoughts
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