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Above 450p for a short time, and the copper price keeps rising.
Last time it was above 450 was 2011.
GLA
Am expecting this to reach 550p before the year end, almost reaching the brokers recently upgraded 580p target.
We're pushing new long term highs and we're now on the main market. There's also a rising copper price, increasing output and potential to reduce costs, with a potential M&A frenzy beginning over copper assets.
Any chartists have a view on where this could go and next resistence points?
''Won't see any significant benefit from this until 2025.''
True statement but the company is currently enjoying a very favourable energy market environment so although the benefits are slightly delayed, the consequences do not look to have an adverse overall effect given the current energy costs per see. as they are now lower than they were in Feb 2021 see below: https://www.statista.com/statistics/1267552/spain-monthly-wholesale-electricity-price/
That solar plant issue has crept in under the radar. As recently as the Q1 update issued on 11 April:
"Construction activities continue at the 50 MW solar plant at Riotinto, with initial power generation expected in Q2 2024."
Now in the Prospectus issued on 24 April:
"As a result of further construction delays by the Company’s contractor at the 50 MW Solar Plant, start-up is now expected in late FY2024."
Won't see any significant benefit from this until 2025.
Yes, some will, and that will probably outweigh the AIM funds that will need to divest their holdings. Some of these funds will be managed within the same 'umbrella' group so they can often shuffle shares around off market as needed first, helps reduce volatility. They also have their own rebalancing dates and procedures to follow so it doesn't need to happen immediately.
But I’m guessing fund managers who may be restricted on what they can trade may then be able to take a position when we move off AIM.
Just a reminder that although we will be main market from Monday we will not automatically qualify for the UK indices. They need to complete Re-dom first for that to happen and we already know that has been delayed due to the change in Cyprus law in March.
They then have to pass further eligibility conditions that FTSE Russell apply to index candidates and it’s not clear from the Prospectus that they will pass them, although they have highlighted that inclusion in the indices is a benefit to shareholders they would like to achieve so will likely do what’s necessary in time. I don’t anticipate we will be considered for the FTSE 250 until the September rebalance, looks unlikely to get everything done in time for early June.
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I think it may be possible that no stamp duty will apply to share purchases from Monday as we are incorporated outside the UK, normally need UK incorporation for that to apply on a main market listing. Anyone buying from Monday maybe post here if confirmed?
There it is, a five year high. Plenty more to go with this with increasing output, lower costs with the solar farm, a rising copper price, m&a activity and a main market listing on Monday that will see Atalaya included in many indexes. With their dividend policy we can look forward to higher dividends this year too.
Good luck to all holders, I suspect this has a lot more to go in the very short term.
Copper price on the rise again at 4.58
Urzz > from the recent presentation, it reads ''50MW solar plant: Initial power generation expected to begin in Q2 2024''
Link: https://atalayamining.com/investors/presentations/
I read in the Prospectus that the Solar plant will not switch on until "late FY24". News to me. Lucky that market electricity costs are so low.
It's been a good day for ATYM. Hope that there will be more to come tomorrow. 460 to finish the week would be wonderful. Good luck everyone, onwards and upwards!!
Some big buys going through at good prices. Can’t imagine who’s selling.
All 444 are in sight again and the Solar switch is turned ON not to forget the E-Lix plant works which should be ramping up production next month meanwhile, the Copper price is breaking out to the upside above 4.5 targeting the high 5 and could be a cracking interesting debut on Monday when hitting the big board.
We're testing the 5 year high of 440, just a matter of time, today, tomorrow or Monday.
Good luck all, let's hope the main listing turbos this.
The 3 main problems are getting sorted- Energy costs down (Solar) and therfeore production costs down
Copper price over and above $4.50 - will it go for £5??
Going onto Main Market so Funds buying in to get Tracker Funds/levels correct
Woop woop but may need to sell some soon for business deal funding
£600m MCap
This sounds like good news, will be interesting to see if big players start buying. Could be significant for teh SP, particularly as the copper price is holding up and we may be at the start of a long-term multi-year copper bull run, as widely reported/predicted.
At the current MCap they would be automatically listed in the FTSE250...which means Trackers and major funds will have to buy them..
Happy Days.
£6 by the end of 2024...or more...
He is correct
https://polaris.brighterir.com/public/atalaya_mining_plc/news/rns_widget/story/rdld3mx
Main market from Mon 29th April - great news
At last things are moving.
If I recall correctly we need a dollar that’s rising against the euro.
Am I correct ? If so, it’s moving the other way.
$10000 a ton consistently is good. Not there yet