REG - Atalaya Mining PLC - Filing of New Riotinto PEA Technical Report

Atalaya MiningAnnouncement

24/03/2023 07:00

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RNS Number : 0768U  Atalaya Mining PLC  24 March 2023

Atalaya Mining Plc

1 Lampousas Street

1095 Nicosia, Cyprus

Tel: +357 22442705

Fax: +357 22442708

www.atalayamining.com

 

24 March 2023

Atalaya Mining Plc.

("Atalaya" or "the Company")

Filing of New Riotinto PEA Technical Report

PEA demonstrated potential uplift in production and reduction in cash costs

 

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 (http://www.sedar.com) and on the Company's website at
www.atalayamining.com (http://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          Henry Fitzgerald-O'Connor / James Asensio / Thomas Diehl  +44 20 7523 8000

 (NOMAD and Joint Broker)
 BMO Capital Markets        Tom Rider / Andrew Cameron                                +44 20 7236 1010

 (Joint Broker)
 Peel Hunt LLP              Ross Allister / David McKeown                             +44 20 7418 8900

 (Joint Broker)

 

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
(http://www.atalayamining.com)

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