Member Info for Xhita

March 2nd Spanish electricity was €23.18 MWh. Now 8 days later it's €136.66 MWh.

It's crazy because we are getting 9 hours a day sunlight.

Normally high production and high prices don't co exist

It's looking good but for now I have jumped out at 940.

I could go higher but clearly trump is floundering with this mess in the middle east and it's not going to end any time soon.

Trump still hasn't worked out that he can't win without an invasion and that's not going to happen. He can't end the war if Iran don't agree.

I think that we have several more rollercoasters ahead.

Interesting to see them switching to weekly reporting of buyback numbers. It's just an admin thing I guess and it saves a bit of money on regulatory announcements.

The wholesale electric price in Spain has increased substantially the last few days from a very low point. That has coincided with la Clima which has been present in the south. Yesterday we had excellent generation on our farm near Seville, today is somewhat cloudy but with la clima gone it's still well above last week. I expect the overall cost to come down this week.

Diesel is starting to creep up. I paid €1.37 today up 6c. It's going to go higher.

Ultimately the margins are very strong at these prices. Demand is high, spot prices are robust around $13000 a ton.

I am encouraged that copper behaved much better than silver which peaked unsustainably then dropped back to more sensible levels.

One would think that a bargain price. I hope it is.

Best of luck.

The madness continues.

The copper spot price is holding 5.7910 -0.008. The futures down slightly further as backwardation continues. Signalling strong physical demand and a moderate premium to the future price.

However the share price is down more than most airlines this morning when oil touched +25% overnight.

It's a crazy situation. Atalaya still making huge margins.

Q4 25 the average copper price was $5.14.

Q1 26 so far is $5.88.

Onions. Oil is currently $107. Copper futures opened down 1.7% .

What a mess. We can all thank the moron in the white house for this.

Onions you are so funny. I have been in and out of this many times. Possibly a few hundred trades. Along with Jet2 they are my best trades because they are volatile, tax-free and predictable especially with Ai trades in low volume . Have you noticed how they trigger at copper futures down 2%.

I am just talking my holding. I don't love the company. I do like the crazy golf course at the mine, not that I have played it this year.

It's unusual for me to hold over a weekend or enter any trade on a Friday afternoon but here we are.

I have strict rules which helps find ladders and avoids snakes.... mostly. That's why I am here because short term copper looks cheap and so does the share price.

A couple of months ago copper peaking looked over done and unsustainable now it looks like the top of the range but where the copper price is very rewarding.

Q4/25 copper prices were between $10200 and $12500 so obviously very healthy. Q1/26 we have seen consistently higher values, sometimes much higher.

It's clear that fractional movements in the copper price moves the share price disproportionately due to momentum traders and low volume. This isn't new but with more Ai traders it's definitely becoming more of an issue.

The full year results will be very strong and obviously we'll see them getting stronger still in Q1 26.

Now a lot of the froth has gone from the share it's a buy with relatively little risk and substantial upside.

Touro will greenlight in the next few weeks in my opinion. Much more activity on-site and local hiring for site preparation and access. Drilling ongoing for advanced modelling and target definition.

We are entering the best months for stripping and groundworks.

Looking at H1 and Q3 financials we can expect very good numbers. The through mill rate was top end of guidance and grades/recovery is as expected.

We need to see the projected costs but clearly margins have never been better.

2.6% down on the current copper price looks well overdone. Low volume and predominantly sells.

I am a buyer at the level fear grips the market and quality is marked down with trash.

Metals are supposed to be a safe space in times of trouble

I haven't seen the trucks recently. Spain exports as substantial amount of copper concentrate to China by rail. The line starts at Huelva port and opened June or July last year.

It's the most cost effective and quickest route so I would be surprised if they have abandoned the idea.

It's 18 to 22 days and is door to door in the same trucks Madrid to the Chinese smelter.

Does anyone know if Atalaya are still selling concentrate to China by train. I haven't seen the trains for a few months and they go right through the current war zone.

Huelva port links to Madrid and the Europe to China railway.

It does seem crazy going by train from a Port but I assume that's where they load.

I doubt that. The copper price and this chart are almost identical. Clearly I am not the only one trading this share for quick returns. I think I traded more than 40 times today. Generally £9000 chunks.

The Ai bots are triggered at -2% copper price.

It makes trading very easy. No tax on purchase and £30 or £40k moves the price.

At the end of the day at the moment with volatility nobody wants to hold.

It appears that Cobre San Rafael are now in the process of engaging a work force for site preparation and clearance.

Hopefully we'll get something announced soon that will indicate a move forward.

Permitting here in Spain isn't a definitive event like in the UK where it's issued or refused. It's more of a process of acceptance and pleasing or reassuring certain people.

Locally the people have been strongly against the re-opening with signs up creating a lot of resistance.

That situation appears to have eased and changed.

Spanish electricity is up 98% today. Hammering down with rain and it's set for a few days of extreme weather.

Https://tradingeconomics.com/spain/electricity-price

This is the wholesale price. Atalaya are probably+20%.

I receive this amount and it's pointless currently. Fortunately the panels are paid for as have around 1200.

Electric here in Spain is currently €28.43 mwh. It's almost not worth selling.

A few months ago I was getting five times as much for wholesale exports. I have 580kwh of capacity near sevilla that's making about €120 a day now. It's never been this low. A storage unit is being built onsite but currently even at night it's just a small premium.

Atalaya will be paying probably wholesale plus 20% but that's just a guess.

My buy at 08:16:04 is printed in red at 187.60.

I suspect there's some demand at these levels

It's difficult to understand. The price is down and I can't get a quote to buy just £9000 worth. Anything over £999 is no quote. At 999 it's full price.

It seems they are trying to slow what is already very slow trading.

3 shorts and how many longs? What do they know.

Ultimately the share price has dropped back a lot since I sold last time at 2.20. in that time the business case has got stronger. We'll see the update next week and hopefully it'll show progress despite the current issues.

I like the model here because it's light on commitments and AI can reduce many of the costs