Atalaya Mining PLC
TSX:AYM
Atalaya Mining PLC
Atalaya Mining Plc engages in the exploration and development of metals production operations in Europe. The company comprises a number of deposits including one of the largest copper deposits in Spain and is located in the Iberian Pyrite Belt. The open-pit mine has Ore Reserves totaling approximately 600,000 tones of contained copper and a processing facility.
Atalaya Mining Plc engages in the exploration and development of metals production operations in Europe. The company comprises a number of deposits including one of the largest copper deposits in Spain and is located in the Iberian Pyrite Belt. The open-pit mine has Ore Reserves totaling approximately 600,000 tones of contained copper and a processing facility.
Solid Quarter: Atalaya delivered a strong Q3, with solid production and good cost performance, keeping the company on track to meet full-year guidance.
Financial Strength: Strong free cash flow was generated even after capital investments, and the company ended the quarter with around EUR 90 million in cash and no debt.
Costs & Margins: Cash costs remain low at $2.55/lb in Q3 and $2.33/lb year-to-date, with all-in sustaining costs under $3/lb, benefiting from higher silver by-product credits.
Guidance Maintained: Full-year production and cost guidance remains unchanged. Q4 production may be slightly lower due to scheduled maintenance, but costs are expected to be flat or lower versus Q3.
Growth Projects: Progress continues at San Dionisio, Masa Valverde, and Touro, with Touro expected to start construction in 2026. Management is confident permitting for Touro will be secured soon.
Recovery Improvement: Copper recoveries at Riotinto are expected to improve above 80% in Q4 and stabilize in the low-to-mid 80% range longer term.
Market & Strategy: Management highlighted supportive copper market fundamentals, ongoing M&A activity in the sector, and Atalaya's intent to double copper production within three years.
