Member Info for Xhita

Information changes all the time. The losers are those that hold regardless of global events.

It's dangerous to fall on love with a company. This is simply a means to an end. If the situation for copper changes tomorrow I am gone.

I don't care what happens when I don't hold

The chart shows some very abrupt movements. I traded a couple of those and added some free shares to my holding.

A decent night for copper and it will move quickly because sub £8 is copper in the $5.60s not $5.90s

Yes but they didn't do that today, trump has been behaving like a moron for quite a while. Copper is in a massively profitable range for Atalaya. It seems that the share price followed copper to here but now is decoupling. Geopolitical risks are high and complete sectors like travel are about to be obliterated so I would have expected a better performance

Gotta wonder why it's struggling at £8.05 with copper at $5.93. It was £9 to £10 before at that level. The fund raiser is held as cash earning interest one assumes so it can't be that.

I have bought and sold many times. Currently I am holding for a bit. The price seems too low to make sense here.

I hold until I sell.

$C 3.92 so plus 30% for the Lara investment so far.

If copper holds the £9 near term is looking very likely in my opinion.

I suspect many are looking well beyond £9. My average is below 7.50 so 9 looks very good to me.

The excessive winter rains are a new thing. We have had at least 12 years of very low winter rains. Stockpiles cost money and may need a modified site plan or even a permit. I suspect they have around 7 days by onsite has worked up to now. This year my car was destroyed by the weather at the end of January so it was extreme.

The share price will rise, I don't think anything is holding it back. Copper needs to stabilise around $6 and the share price will make it's way to £9.

Share price should be well over £9 at $13222 ton

It'll be for the company to determine when they announce the project has the go ahead. It's not really a case of a defined point where the authority signs off it's really an ongoing process. It seems obstacles are being removed. I know work is ongoing and had been stepped up. Clearance and confirmation drilling, site access and preparations.

I guess it'll get to a point where they are happy to talk about it as a starting point. I am again guessing that'll be when the regulatory hurdles are overcome but it could also be influenced by local politics.

I have been in Spain 15 years and I live in the same region as the mine. Extreme winter weather has been experienced the last 2 years. The 12 year drought has come to an end and Atalaya needs to be better prepared next year with a substantial stockpile outside of the pit.

Unfortunately mining and processing is one thing after another and a clear quarter is a rare thing. The copper price remains strong and the future looks positive so clearly there's substantial value to head at the current share price.

It does make the fundraising and Trafigura sells timing look a little awkward with a flooded pit.

Touro appears to be progressing. Site clearance for improving access is underway now after local hires for groundworks

The average realised copper price (excluding QPs closed during the Period) was US$5.87/lb in Q1 2026 (Q1 2025: US$4.26/lb), compared with US$5.10/lb in Q4 2025. The average spot copper price was US$5.83/lb in Q1 2026

Copper production was 9,939 tonnes in Q1 2026.

Super high copper price and disappointing production numbers as was alluded to previously. Due to heavy rains and the addition of low grade stock work to occupy the process. Unfortunate but it's still going to be a very good quarter with super high prices.

Diesel and electric hedged mostly which are the big risk factors but clearly we'll see costs up.

These crazy times are really about survival and positioning. The bounds of trumps stupidity appears unlimited but Atalaya look well positioned to capitalise on the madness.

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The main cost increase is diesel. However as Spain has excess diesel refinery capacity they won't run out as is the case in some other countries. Oil isn't the issue it's jet fuel and diesel where some global businesses are going to struggle. Electricity in Spain hasn't moved and Atalaya has a fixed contract with Endesa that includes their solar array. Electric in Spain is the cheapest in Europe. Currently it's just 30% of the UK price and 18% of the Italy price.

Costs go up but it's very modest compared to the explosion in copper value

I have been in and out many times just ebb and flow trading. It's been fun but I am holding now between 8 and £9

Almost back to $13000 a ton spot and the share price is under £8. It seems crazy. At this point it was well over £9 on the way up. Yes we had a fundraiser but it's held as cash and at £10 a share.

It shouldn't be struggling here with the business throwing off cash.

This should be safe haven from the stupidity of trumps government

The average copper price for Q1 26 was $5.83 per pound.

The average for Q4 25 was $5.10 er pound.

This will produce an EBITDA around €50m or £500k a day 7 days a week.

Q2 is currently a bit below the Q1 average but still way ahead of Q4 25.

In the meantime airlines are paying much more for their hedged fuel because the crack spread on refined jet fuel is currently massive. This reflects the shortage. The refineries are taking extra margin and forcing the price up. The hedge is at the dollar price not the actual jet fuel price which varies airport to airport.

The real cost of hedged jet fuel is up around 50% because of the crack spread. Unhedged fuel is up around 100%.

I suspect the chances of sub 10 are more realistic. I am at a loss as to why the share price is so resilient. Airlines face the worse case scenario. Cancellations are guaranteed even if the strait opened today and the jet fuel production could be restarted in the next week. Best case Europe is 8 weeks away from supply.

As availability tightens the opportunity to steal loads destined for other countries deminishes.

It doesn't matter if the UK has accessed as one fuel from the US, that won't continue as the US can't import fuel from Asia currently. The global picture is jet fuel capacity is around 40% down. It's irrelevant who has the fuel as the world is short and aircraft has to have fuel to return. If they take extra from somewhere it doesn't solve the global problem.

These are tough times for a lot of reasons and sale of shares isn't always a matter of choice. Yes it had created a substantial overhang no doubt even if some didn't go through the market.

I am not thinking about Touro at the moment because it's well in the future even if we experience a small uplift on news.

This is s simply pegged to the copper price. The global risk has changed the pegged ratio from aggressive speculation on the way up to cautious optimism now.

The copper price is tied to global growth and that's not going to be super going forward.

Really all we need is for trump and America to stop behaving like morons for a bit. Diesel is a problem, price not availability because Spain produces plenty of diesel. Today I paid 1.86 euro per litre even with the IVA dropped to 10%. This is definitely going to increase costs but at this copper price it's highly profitable.

The cost is a big issue because airlines are currently paying well over the equivalent hedge price because of the massive crack spread on jet fuel. The hedge just covers the dollar equivalent. On current hedge European airlines are paying the equivalent of around 100 dollar a barrel. Obviously much better than 195 dollar a barrel which is the jet fuel cost.

Of course all this is academic if the aircraft are grounded which will probably be the best case scenario.

A tanker takes 6 weeks from the Gulf. Running out of fuel isn't the problem. Europe produces around 200000 mt a month mostly from Rotterdam, Spain, Germany and Italy. Europe needs 6 times that amount at 1.2m mt.

In a normal month most of that 1m Mt comes from the middle east. The reason is the middle east produces in mega tanker volumes and it's more cost effective.

America is an exporter of jet fuel but it's also an importer from South Korea to the West coast. The maths shows that they produce slightly more than they consume.

India is a potential option but it's likely from Russian oil and how acceptable is that. Nigeria seems the most viable but even if Europe took everything from Nigeria in a competitive marketplace it's not going to dent the deficit.

Europe seems to be reliant on outbidding shipments on the water, like stealing shipments from other areas.

This has limited impact because airlines can't fly somewhere that has no fuel to fly back.

The way to look at it is the middle east supplied 40% of the world's jet fuel directly and 25% more indirectly so somewhere on a compound basis that grounds aircraft.

It's guaranteed