SOURCE: Atalaya Mining PLC

July 25, 2016 02:00 ET

Atalaya Mining PLC Announces Second Quarter 2016 Operational Update

NICOSIA, CYPRUS--(Marketwired - Jul 25, 2016) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)

AIM: ATYM; TSX: AYM

Atalaya Mining plc ("Atalaya" or the "Company")
(AIM: ATYM; TSX: AYM)

Second Quarter 2016 Operational Update
Expansion Project Completed Ahead of Schedule and Under Budget

Atalaya is pleased to report the successful completion of the construction of its Expansion Project, with production ramping up towards 9.5Mtpa. The Company is also providing an operations update for Q2 2016.

Q2 2016 Highlights

  • The Expansion Project was declared mechanically complete during the first week of May 2016, ahead of schedule and under budget.
  • Copper production increased by 10% in Q2 2016 to 4,442 tonnes, compared with 4,048 tonnes in Q1 2016. The increase in production was significant considering the plant was temporarily shut down due to the administrative tailings discharge suspension and interruptions required to commission the Expansion.
  • 1.3m tonnes of ore were processed compared with 1.1m tonnes during Q1 2016, representing a 15% increase.
  • Copper grade in final concentrate remained consistent at 21.54% while recoveries decreased to 79.80% due to the commissioning of the new flotation circuit. Recoveries have now reverted to normal and averaged over 84% in July.
  • Updated Reserves and Resources statement released following the end of Q2 2016, indicating a 12% increase in contained reserves and extended life of mine to 16.5 years.

Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/0639F_1-2016-7-25.pdf

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

This information is provided by RNS
The company news service from the London Stock Exchange

Contact Information

  • 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