It is a pleasing to see the improvement in this share. I would post it as buy if my screen worked correctly. It is also nice to be in a small theoretical profit after an awfully long time . Atayala is young and so I believe will go further so will play the waiting game . The 245 Peel Hunt price may prove to be conservative... I hope so anyway .Any thoughts out there ?
I don't know about 210p by Friday but it has the feel of a share bubbling away nicely. It's holding up in a falling market and looks like a little good news, even an announcement of a small dividend will double the price up quickly.
Hello again ,obviously the answer with this share is to accidentally say sell when you mean buy. Its going up faster than I anticipated !!...its a BUY anyway !! Nearly in profit as many others may be ..lets not sell out though until we have maximised !!
Well,well,well ! After years holding this share it looks like it is very gradually taking me towards a profit. Cracking 200 may be slow ,but progress is steady and once through the barrier it could go much much further as we all hoped all those years ago ,when we were young and bought in !
"In accordance with the royalty agreement signed in July 2012 between the Company and Rumbo, the former owner of certain plots of land currently used by Proyecto Riotinto (the "Royalty Agreement"), and as disclosed in Atalaya's financial information, Rumbo is entitled to receive a royalty payment of up to US$250,000 per quarter if the average copper sales price or LME price for the period is equal to or above $2.60/lb. As such, and given the fact that the average copper price for the third and fourth quarter of 2017 was above $2.60/lb, the Company is obliged to pay US$500,000 to Rumbo (the "Royalty Payment").
After discussions with Rumbo, both parties have agreed to satisfy the Royalty Payment through the issuance of 192,540 new ordinary shares of 7.5p in the Company ("Rumbo Shares"). The Rumbo Shares have been issued at the volume weighted average price for the period between 5 February 2018 and 9 February 2018 (the "Calculation Period") of 186.7p per share and using the average US$ to GBP exchange rate for the Calculation Period of 1.3909."
So, I guess they think the SP will go up (and not down) from here.
Yes. The interesting activity at the moment is the increase in volume over the past month or so and where it has come from. Large trades have been going through on a regular basis. There appears to be a buyer who will take anything up to 190.
In the last quarterly update RNS the company gave the following
"Copper prices rose during the quarter with an average realised price per pound of copper payable, including the QPs closed in the period, of $2.87/lb. The average spot copper price during the quarter was $3.09/lb. The realised price of shipments during the quarter excluding QPs was approximately $3.10/lb."
So we have the
A. the prevailing Cu price = $3.09/lb
B. The realised Cu price = $2.87/lb
C. The realised Cu price excluding QPs = $3.10/lb
A and B we have always been given but not C. So what is C and what is a QP? The answer is quotation period. The selling agreement works like this
1.Company delivers copper to the port
2.Company receives 90% of value based on expected payment terms, treatment charges, expected penalties, provisional assays and the prevailing copper price. (we now have an open QP)
3.Copper takes between 1 and 4 months to deliver to smelter depending on which of the 3 buyers the company is shipping to
4.Copper reaches the buyer. Buyer now settles the open QP at the new prevailing copper price. This balance could be positive or negative depending on the movement in the price of copper whilst the QP was open.
6. QP is closed
So I believe that the difference between the prevailing and realised Cu price for a quarter is not down to impurity but open QPs that were opened at lower copper prices early in the quarter. Last year each quarter averaged a higher Cu price than the last than the last.
The realised Cu price excluding QPs is the actual price that they are getting. $3.10/lb.
This is based on correspondence with representatives of the company.
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