Atalaya Mining PLC Announces Third Quarter Financial Results
Unaudited, Condensed, Interim, Consolidated Financial Statements for the period ended 30 September 2019
NICOSIA, CYPRUS / ACCESSWIRE / November 21, 2019 / Atalaya Mining Plc (AIM:ATYM) (TSX:AYM), the European mining and development company, is pleased to announce its quarterly results for the period ended 30 September 2019 (“Q3 2019”), together with the Unaudited, Condensed, Interim, Consolidated Financial Statements.
Quarter ended 30 September
Nine months ended
30 Sept 2019
Nine months ended
30 Sept 2018
Revenues from operations
Profit for the period
Earnings per share
Cash flows from operating activities
Cash flows used in investing activities
Cash flows (used)/from financing activities
Average realised copper price
Cu concentrate produced
All-In Sustaining Cost
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Expansion to 15Mtpa at Proyecto Riotinto (“Expansion Project”)
On 29 March 2019, the Company announced that it had received notification from the Supreme Court in Spain that it did not have jurisdiction over the appeal made by the Junta de Andalucía (“JdA”) and therefore the announced ruling by the Tribunal Superior de Justicia de Andalucía (“TSJA”) dated 26 September 2018 remains valid.
On 26 April 2019, the Company announced that a judgment relating to the Mining Permits to operate Proyecto Riotinto (the “Mining Permits”) was handed down by the TSJA. The TSJA declared the Mining Permits are linked to the environmental permits, ruled by the same tribunal in September 2018. The new ruling on the Mining Permits is based on the requirement to have an environmental permit before issuing Mining Permits and therefore invalidates the existing mining permits. The TSJA did not accept the requests by Ecologistas en Accion (“EeA”) for the cessation of activities at the mine and an increase in the scope of the environmental plan.
On 20 November 2019, the Company received an informal notification that its appeal to the Supreme Court on the ruling handed down by the TSJA on 26 April 2019 had been rejected. The Company has been advised by its lawyers that the rejection has no impact over the Company’s legal status quo.
The JdA is undergoing the process to resolve the previously reported administrative issues identified by the TSJA relating to the Environmental and Mining Permits. The Company continues operating the mine normally and remains confident that the ongoing process carried out by the JdA will not impact its operations at Proyecto Riotinto.
Alberto Lavandeira, CEO commented:
“We are pleased to demonstrate another strong quarter of operations at Proyecto Riotinto which was achieved at the same time as completing and testing of the new 15Mtpa expansion, illustrating the flexibility within the plant. With the additional power supply now fully up and running we are confident that our stated production rates will be met during Q4 2019.”
This announcement contains information which, prior to its publication constituted inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Elisabeth Cowell / Adam Lloyd / Tom Carnegie
+ 44 20 3757 6880
+44 20 3170 7973
Canaccord Genuity (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor / James Asensio
+44 20 7523 8000
BMO Capital Markets (Joint Broker)
Tom Rider / Michael Rechsteiner
+44 20 7236 1010
Peel Hunt LLP (Joint Broker)
Ross Allister / David McKeown
+44 20 7418 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
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SOURCE: RNS London Stock Exchange
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