Atalaya Mining PLC Announces Filing of New Riotinto PEA Technical Report

Rhea-AI Summary

Atalaya Mining Plc has filed a new Technical Report for its Proyecto Riotinto operation in Spain, revealing a Preliminary Economic Assessment (PEA) that indicates substantial economic potential. The PEA estimates an after-tax NPV(8%) of $1.07 billion at base case metal prices, and $1.57 billion under sensitivity scenarios. The report includes the Cerro Colorado mine and adjacent San Dionisio and San Antonio deposits, aiming to integrate these into a new mine plan. This assessment particularly highlights the anticipated improvements in production and the reduction in cash costs.

Positive

• After-tax NPV(8%) estimated at $1.07 billion at base metals prices.
• Higher sensitivity NPV(8%) of $1.57 billion at increased copper prices.
• Potential uplift in production and reduction in cash costs.

Negative

• None.

PEA demonstrated potential uplift in production and reduction in cash costs

NICOSIA, CYPRUS / ACCESSWIRE / March 24, 2023 / Atalaya Mining Plc (AIM:ATYM) is pleased to announce the filing of the technical report ("Technical Report") related to the new preliminary economic assessment ("PEA") for the Cerro Colorado, San Dionisio and San Antonio deposits at its Proyecto Riotinto ("Riotinto") operation in Spain, the results of which were announced on 23 February 2023 by the Company.

Riotinto is Atalaya's flagship asset and currently consists of the operating Cerro Colorado open pit mine, a modern 15 Mtpa processing plant and significant supporting infrastructure. The San Dionisio and San Antonio deposits are located adjacent to the Cerro Colorado pit and the objective of the PEA was to incorporate these deposits into a new integrated mine plan for Riotinto.

The PEA demonstrated strong potential economic results over a range of metals price assumptions, including an after-tax NPV(8%) of $1.07 billion at $3.50/lb Cu, $1.20/lb Zn and $0.95/lb Pb ("Base Case" metals prices) and an after-tax NPV(8%) of $1.57 billion at $4.03/lb Cu, $1.20/lb Zn and $0.95/lb Pb ("Sensitivity Case" metals prices).

The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.atalayamining.com.

Contacts:

SEC Newgate UK	Elisabeth Cowell / Axaule Shukanayeva / Matthew Elliott	+ 44 20 3757 6882
4C Communications	Carina Corbett	+44 20 3170 7973
Canaccord Genuity (NOMAD and Joint Broker)	Henry Fitzgerald-O'Connor / James Asensio / Thomas Diehl	+44 20 7523 8000
BMO Capital Markets (Joint Broker)	Tom Rider / Andrew Cameron	+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 listed mining and development group which produces copper concentrates and silver by-product at its wholly owned Proyecto Riotinto site in southwest Spain. Atalaya's current operations include the Cerro Colorado open pit mine and a modern 15 Mtpa processing plant, which has the potential to become a centralised processing hub for ore sourced from its wholly owned regional projects around Riotinto that include Proyecto Masa Valverde and Proyecto Riotinto East. 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, as well as a 99.9% interest in Proyecto Ossa Morena. For further information, visit www.atalayamining.com

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SOURCE: Atalaya Mining PLC

View source version on accesswire.com:
https://www.accesswire.com/745596/Atalaya-Mining-PLC-Announces-Filing-of-New-Riotinto-PEA-Technical-Report

FAQ

What are the results of Atalaya Mining's new PEA for ATLMF?

Atalaya Mining's new PEA estimates an after-tax NPV(8%) of $1.07 billion at base case metal prices and $1.57 billion at higher copper prices.

How does the PEA affect the Cerro Colorado mine?

The PEA integrates the Cerro Colorado mine with the adjacent San Dionisio and San Antonio deposits into a new mine plan.

What improvements were highlighted in Atalaya Mining's PEA?

The PEA demonstrates potential enhancements in production and reductions in cash costs.