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Atalaya Mining Plc has announced a new preliminary economic assessment (PEA) for its Riotinto operation, highlighting robust economic potential. The assessment projects a NPV after-tax of $1.07 billion at base metal prices and $1.57 billion at higher prices. With a mine life of 15.6 years and expected annual copper production of ~90 ktpa, the PEA suggests significant production growth driven by higher-grade material. The operation benefits from established infrastructure, potentially lower cash costs of $2.00/lb Cu, and strategic advantages in a supportive mining jurisdiction. However, the PEA remains preliminary and relies on inferred resources, indicating inherent risks in realization.
Atalaya Mining Plc has released its Q4 2022 operations update, highlighting strong production results despite challenges. Ore mined was stable at 3.5 million tonnes for Q4 2022, and total annual ore mined increased to 14.9 million tonnes from 13.5 million tonnes in 2021. Copper production reached 13,969 tonnes in Q4 2022, up from 13,872 tonnes in Q4 2021, though annual production decreased to 52,269 tonnes from 56,097 tonnes. The company expects copper production in 2023 to range between 53,000 to 55,000 tonnes and remains optimistic about its strong balance sheet with €126.2 million in cash as of December 31, 2022.
On January 10, 2023, Allianz Global Investors GmbH updated its holdings in Atalaya Mining plc, indicating a reduction in voting rights from 4.93% to 3.98%. This notification follows the requirement for major holdings disclosure and reflects a total of 5,567,715 voting rights held directly, corresponding to the total voting rights of 139,879,209. The notification was submitted on January 11, 2023, marking significant changes in shareholder influence within the company.
Atalaya Mining Plc (AIM:ATYM) has announced significant drilling results from its exploration program in southern Spain, highlighting a potential new massive sulphide discovery at the Mojarra Trend and a new high-grade zone at Masa Valverde. Key findings include:
- Mojarra Trend: 18.75m of polymetallic massive sulphides with grades of 0.84% Cu, 0.63% Zn, 0.66% Pb, and 76.24 g/t Ag.
- Masa Valverde: New high-grade zinc zone with 18.00m at 8.30% Zn and 0.25% Cu.
- Ongoing exploration is expected to enhance resource potential and copper production.
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Atalaya Mining Plc (AIM:ATYM) will release its Q3 2022 financial results on November 9, 2022, including unaudited financial statements for the nine months ending September 30, 2022. CEO Alberto Lavandeira and CFO César Sánchez will host a live presentation on the same day at 2:30 PM GMT via the Investor Meet Company platform, where existing and potential shareholders can submit questions. Interested investors can register for free on the platform to attend.
Atalaya Mining Plc reported consistent copper production in Q3 2022, with 13,453 tonnes mined, slightly above Q2's 13,386 tonnes. Ore mined totaled 3.6 million tonnes, matching Q2 2022 levels. Processing rates indicated capacity exceeding 15 million tonnes per annum, while copper grade improved to 0.41%. However, the average realized copper price fell to $3.83/lb from $4.32/lb in Q2 2022. The company maintains its 2022 production guidance of 52,000 - 54,000 tonnes. Despite challenges, CEO Alberto Lavandeira highlighted ongoing growth opportunities.
Atalaya Mining announced a significant change in major holdings on October 14, 2022. Cobas Asset Management acquired 10.0376% of the voting rights, up from 5.07%, indicating a substantial increase in their stake in the company. This acquisition occurred on October 12, 2022, and was reported in accordance with regulatory obligations. The total number of voting rights now stands at 14,040,518. Atalaya Mining is classified as a non-UK issuer, and this notification serves to inform the market of the updated shareholder structure.
Atalaya Mining Plc has declared an interim dividend of US$0.036 per Ordinary Share, payable on September 19, 2022. Shareholders can opt to receive their dividends in Sterling or Euros, with respective equivalent rates of £0.0313 and €0.0363. The company received confirmation from the Tax Department of Cyprus indicating that no withholding taxes are required for shareholders on dividend distributions. This provides clarity and encourages shareholder confidence regarding tax obligations.