Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
ended 30 September 2016 amounted to €5.5 million. Cash used for investment activities was €19.8 million. · The average market prices of copper for the three and nine months ended 30 September 2016 were US$2.17/lb for the third quarter and US$2.14/lb for the nine months. The Company's realised copper prices for the same periods were US$2.18/lb and US$2.16/lb respectively. Corporate Highlights · Astor case - There has been no update to the Astor case since the release of the Q2 2016 financials. Atalaya continues to work closely with its legal advisors in preparing for trial at the High Court of Justice in London on 30 January 2017. Atalaya remains confident of a positive outcome of the upcoming trial and will update shareholders following the trial, or if there are any material developments in the meantime. Alberto Lavandeira, CEO commented: "We are gradually beginning to see the fruits of our efforts with positive cash flows from our operations. The combination of falling operating costs and improved levels of recovery and production reflect the increasing on-site efficiencies. The effect of the recent increase in the copper price on our share price demonstrates our leverage to copper. With the plant working now almost at nameplate capacity we are well placed to benefit from any future improvements in the copper price."
Operating Highlights · 97% increase quarter on quarter in production of tonnes of copper in concentrate (Q3 2016: 8,752 tonnes, Q2 2016: 4,442 tonnes). · Increase in recoveries to 83.60% during Q3 2016 (Q2 2016: 80.46%). Plant performing very well and achieving a recovery rate of 87.09% during October 2016. · Copper concentrate grades of over 21% remained consistent with the previous quarter and penalties are now well below the maximum levels stipulated by some smelters. · 8,752 metric tonnes of copper metal produced during the quarter, with accumulated production of 17,241 metric tons for the nine months period, including January pre-commissioning production. · 50% more tonnes of ore processed during Q3 2016 (2.0 million tonnes) compared to Q2 2016 (1.3 million tonnes). · Following mechanical completion of the expansion project in May 2016, ramp-up is progressing according to plan. Minimal additional capex required until the end of the year. · Updated NI 43-101 technical report for Proyecto Riotinto filed in September 2016, reporting a 12% increase in open pit reserves and extending the life of mine to 16.5 years. · Water treatment plant now fully operational after successful commissioning during Q3 2016. De-watering of Cerro Colorado open pit progressing according to plan. · Atalaya maintains its copper production guidance of 23,500 to 27,000 metric tons for 2016, with a bias towards the higher end of the scale. Financial Highlights As commercial production was declared in February 2016, no comparative operational data is available for 2015. · Working capital position improvement of €4.2 million from Q2 2016. · Revenues of €27.2 million and €49.9 million for the three and nine month periods, respectively. · Cash cost reductions during Q3 2016 to $1.97/lb of payable copper (Q2 2016: $2.36/lb), with further reductions targeted in coming months as production levels get closer to the nominal plant capacity of 9.5Mtpa. · EBITDA improved significantly in Q3 2016 compared with H1 2016 (negative €3.6 million) as a result of an increase in volume of copper concentrate sold, lower cash costs and higher realised copper prices. Positive EBITDA of €1.9 million for the period compared with a negative EBITDA of €1.6 million for the year to date. · Loss of €1.5 million (or 1.3 cents per share) and €8.0 million (or 6.8 cents per share) for the three and nine month period respectively. · Inventories of concentrate at 30 September 2016 amounted to approximately €9.3 million. · Completion of US$14 million copper concentrate prepayment funding agreement with Transamine Trading S.A. to improve working capital position. · Positive cash flows from operating activities for the nine months
http://friscofastball.com/2016/11/22/atalaya-mining-plcs-stock-is-buy-after-reaching-52-week-high/
Atalaya Mining Plc (ATYM.L) After a recent check, shares of Atalaya Mining Plc (ATYM.L) have a 200-day moving average of 95.61. The 50-day is 90.43, and the 7-day is sitting at 121.59. >>>Related articles: http://hotherald.com/investors-are-looking-at-levels-for-atalaya-mining-plc-atym-l/44240/
Atalaya Mining shares can jump to 160-170p in early 2017 Atalaya Mining Plc (LON:ATYM) shares could jump to trade around 160p to 170p by the end of the first quarter if not before, so says technical analyst Zak Mir. >>>Related articles: http://www.proactiveinvestors.co.uk/companies/stocktube/6417/atalaya-mining-shares-can-jump-to-160-170p-in-early-2017-6417.html
The stock of Atalaya Mining PLC (LON:ATYM) reached all time high today, Nov, 11 and still has GBX 211.93 target or 73.00% above today’s GBX 122.50 share price. This indicates more upside for the GBX 170.58 million company. This technical setup was reported by Barchart.com. If the GBX 211.93 PT is reached, the company will be worth GBX 124.52M more. Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 13.43% or GBX 14.5 on November 11, hitting GBX 122.5. About 979,247 shares traded hands or 1475.54% up from the average. Atalaya Mining PLC (LON:ATYM) has risen 14.49% since April 14, 2016 and is uptrending. It has outperformed by 8.34% the S&P500.
The Cerro Colorado pit is roughly 2 km long by 700 metres wide, and the Atalaya pit is 1 km long by 700 metres wide (and about 400 metres in depth). Lavandeira and his team believe the area offers lots of exploration upside.. There has been only limited exploration to date on lateral extensions to Cerro Colorado because the main focus was on the confirmation of the open-pit potential. But the company is planning more near-mine exploration in the future — with an emphasis on closer drill spacing and testing extensions of mineral targets. In addition, the company will undertake grassroots exploration of anomalies identified on its exploration licences. http://www.northernminer.com/news/atalaya-mining-breathes-new-life-old-rio-tinto-asset/1003780680/
Active Trading Watch on Shares of Atalaya Mining Plc http://hotherald.com/active-trading-watch-on-shares-of-atalaya-mining-plc-atym-l/33820/
Copper hits 15-month high after Trump wins White House http://www.reuters.com/article/us-global-metals-idUSKBN134234