Atalaya Mining plc: Operational review and release of Q3 2016 Financial Statements
24.11.2016 | Marketwire
NICOSIA, Nov 24, 2016 - Atalaya Mining plc (AIM: ATYM) (TSX: AYM), the European mining and development company, announces its unaudited quarterly and interim results for the three and nine months to 30 September 2016, together with the unaudited, condensed interim consolidated financial statements. These results are also available on the Company's website at www.atalayamining.com
Operating Highlights
- 97% increase quarter on quarter in production of tonnes of copper in concentrate (Q3 2016: 8,752 tonnes, Q2 2016: 4,442 tonnes).
- Increase in recoveries to 83.60% during Q3 2016 (Q2 2016: 80.46%). Plant performing very well and achieving a recovery rate of 87.09% during October 2016.
- Copper concentrate grades of over 21% remained consistent with the previous quarter and penalties are now well below the maximum levels stipulated by some smelters.
- 8,752 metric tonnes of copper metal produced during the quarter, with accumulated production of 17,241 metric tons for the nine months period, including January pre-commissioning production.
- 50% more tonnes of ore processed during Q3 2016 (2.0 million tonnes) compared to Q2 2016 (1.3 million tonnes).
- Following mechanical completion of the expansion project in May 2016, ramp-up is progressing according to plan. Minimal additional capex required until the end of the year.
- Updated NI 43-101 technical report for Proyecto Riotinto filed in September 2016, reporting a 12% increase in open pit reserves and extending the life of mine to 16.5 years.
- Water treatment plant now fully operational after successful commissioning during Q3 2016. De-watering of Cerro Colorado open pit progressing according to plan.
- Atalaya maintains its copper production guidance of 23,500 to 27,000 metric tons for 2016, with a bias towards the higher end of the scale.
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This information is provided by RNS
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Contacts:
Atalaya Mining plc
Roger Davey / Alberto Lavandeira
+34 959 59 28 50
Canaccord Genuity (NOMAD and Joint Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000
BMO Capital Markets (Joint Broker)
Jeffrey Couch/Neil Haycock/Tom Rider
+44 20 7236 1010