Atalaya Mining PLC Q4 2019 Operations Update and 2020 Guidance (9490Z)
16 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMATYM
RNS Number : 9490Z
Atalaya Mining PLC
16 January 2020
16 January 2020
Atalaya Mining Plc.
("Atalaya" or "the Company")
Fourth Quarter 2019 Operations Update and 2020 Guidance
Atalaya Mining Plc. (AIM:ATYM, TSX:AYM), the European mining and
development company, is pleased to announce its operations update
for the fourth quarter of 2019 and to provide guidance for
2020.
Operating Highlights
Q4 Q3 Full year
2019 2018 2019 2019 2018 2020 Guidance
------- ------- ------- ------- ------- --------------
Ore mined (M tonnes) 2.3 2.8 2.7 10.4 9.8 15.0
------------ ------- ------- ------- ------- ------- --------------
Waste mined (M tonnes) 6.0 4.3 4.4 17.9 17.7 22.7
------------ ------- ------- ------- ------- ------- --------------
Ore milled (M tonnes) 2.9 2.6 2.6 10.5 9.8 14.0 - 15.0
------------ ------- ------- ------- ------- ------- --------------
Cu grade (%) 0.56 0.48 0.47 0.49 0.49 0.45
------------ ------- ------- ------- ------- ------- --------------
Cu recovery (%) 83.58 89.15 87.38 87.09 88.30 84 - 86
------------ ------- ------- ------- ------- ------- --------------
55,000 -
Cu production (tonnes) 13,527 11,172 10,568 44,950 42,114 58,000
------------ ------- ------- ------- ------- ------- --------------
-- Record quarterly copper production of 13,527 tonnes achieved
in Q4 2019 (Q4 2018: 11,172 tonnes);
-- Full year 2019 copper production increased by 6.7% to 44,950
tonnes (FY2018: 42,114 tonnes). This is in the upper range of the
updated guidance provided on 17 October 2019;
-- The expansion is now complete with the processing plant fully
commissioned and operating at an increased annualised rate of
15Mtpa since January 2020;
-- The annual copper recovery rate was 87.09% compared with
88.30% in 2018 driven by lower recovery rates achieved during Q4
2019 owing to the ramp-up of the SAG mill;
-- On-site concentrate inventories at the end of Q4 2019 were
approximately 2,221 tonnes. All concentrate in stock at the
beginning of the quarter, and produced during the quarter, has been
delivered to the port at Huelva.
-- Copper prices slightly decreased during the quarter compared
with the previous quarter, with an average realised price per pound
of copper payable, including the QPs closed in the period, of
$2.65/lb compared with $2.68/lb in Q3 2019. The average copper spot
price during the quarter was $2.67/lb. The realised price during
the quarter, excluding QPs, was approximately $2.67/lb.
-- Q4 2019 cash operating costs will be provided with the 2019 Financial Statements
2020 Guidance
-- Full year 2020 copper production is estimated to be in the range of 55,000 to 58,000 tonnes.
Exploration Highlights
Exploration and infill drilling continue in Atalaya pit and
Cerro Colorado pit. Results from ongoing exploration drilling in Q4
2019 were positive with 1,019 m drilled at San Dionisio in Atalaya
pit and 1,170 m drilled at Filón Sur in Cerro Colorado.
Results of new Atalaya drill data continue defining and
validating historical data of the rich Cu stockwork in the
area.
Corporate Highlights
Proyecto Touro
During the quarter, the Company continued addressing additional
information requests from administrative bodies. Atalaya addressed
comments from Aguas de Galicia, Natural Heritage and the General
Directorate of Mines. Further update will be provided in due
course.
Legal Update
As previously reported, the Company has received judgments
relating to certain issues on the AAU and the Mining Permits from
the Tribunal Superior de Justicia de Andalucía. The Junta de
Andalucía is continuing with the process of resolving the
administrative issues identified and is making public statements in
support of Atalaya. The Company continues to operate the mine
normally and remains confident that the process will not impact
operations at Riotinto.
Alberto Lavandeira, Atalaya CEO, commented:
"We are pleased to have completed the expansion at Proyecto
Riotinto which is now successfully operating at the increased
annualised capacity of 15Mtpa since January 2020. We are also
pleased to have delivered production rates at the higher end of our
expectations in the final quarter of the year. This track record
gives us confidence in our ability to achieve our increased 2020
production forecasts."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) no 596/2014.
Contacts:
Elisabeth Cowell / Adam Lloyd / + 44 20 3757
Newgate Communications Tom Carnegie 6880
+44 20 3170
4C Communications Carina Corbett 7973
----------------------------------- -------------
Canaccord Genuity
(NOMAD and Joint Henry Fitzgerald-O'Connor / James +44 20 7523
Broker) Asensio 8000
----------------------------------- -------------
BMO Capital Markets Tom Rider / Michael Rechsteiner +44 20 7236
(Joint Broker) / Neil Elliot 1010
----------------------------------- -------------
Peel Hunt LLP +44 20 7418
(Joint Broker) Ross Allister / David McKeown 8900
----------------------------------- -------------
About Atalaya Mining Plc
Atalaya is an AIM and TSX-listed mining and development group
which produces copper concentrates and silver by-product at its
wholly owned Proyecto Riotinto site in southwest Spain. In
addition, the Group has a phased, earn-in agreement for up to 80%
ownership of Proyecto Touro, a brownfield copper project in the
northwest of Spain which is currently in the permitting stage. For
further information, visit www.atalayamining.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDKKPBNOBKDBDD
(END) Dow Jones Newswires
January 16, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Atalaya Mining (LSE:ATYM)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Atalaya Mining (LSE:ATYM)
Storico
Da Apr 2023 a Apr 2024