SOURCE: Atalaya Mining PLC

April 06, 2017 02:07 ET

Atalaya Mining PLC: Final Results

NICOSIA, CYPRUS--(Marketwired - Apr 6, 2017) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)

AIM:ATYM, TSX:AYM

6 April 2017

Atalaya Mining Plc
("Atalaya" or the "Company")
Final Results for the year ended 31 December 2016

Atalaya Mining plc (AIM:ATYM, TSX:AYM), the European mining and development company, announces its audited results for the year ended 31 December 2016.

The full audited report, including the consolidated Financial Statements is also available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.atalayamining.com

Project Highlights in 2016

  • Proyecto Riotinto reached its nameplate capacity of 9.5Mtpa in December 2016. Phases I and II were completed during the year with ramp-up below budget and ahead of schedule.
  • Updated NI 43-101 technical report for Proyecto Riotinto was filed in September 2016, reporting a 12% increase in open pit reserves and extending the life of mine to 16.5 years.
  • Management continued to look for efficiencies in order to reduce operating costs and will continue to do so.

Production highlights for the 12 months to December 2016

  • Atalaya processed 6.5 million tonnes of ore in 2016, including pre-commissioning production.
  • From Q2, recoveries improved quarter on quarter with an average rate of 83.29% achieved for the full year.
  • Copper concentrate grades of over 21% remained consistent throughout the period, achieving market standards and reducing penalties below the maximum levels stipulated by some smelters.
  • Production for 2016 was 122,468 tonnes of copper concentrate containing 26,179 tonnes of copper and 434,000 ounces of silver. Payable copper, including January pre-commissioning production, amounted to 25,353 tonnes.
  • Atalaya maintains its copper production guidance for 2017 of 34,000 - 40,000 tonnes.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/7382B_1-2017-4-6.pdf

Contact Information