Business
1st Quarter Results
1st Quarter Results.
About this update from Atalaya Mining Copper Sa
[{"type":"text","content":"\n \nRNS Number : 1633G Atalaya Mining PLC 25 May 2017 \n \n\n25 May 2017\n \nAtalaya Mining Plc\n(\"Atalaya\" or the \"Company\")\nOperational review and release of Q1 2017 Financial Statements\nAtalaya Mining plc (AIM:ATYM, TSX:AYM), the European mining and development company, announces its unaudited, quarterly results for the three months ended 31 March 2017, together with the unaudited, condensed interim consolidated financial statements.\nThese results are also available on the Company's website at www.atalayamining.com\nOperating Highlights\n· Copper production during Q1 2017 was 8,805 tonnes in concentrate, in line with production levels of the previous quarter (Q4 2016: 8,938 tonnes). Q1 2016 copper in concentrate production was 4,048 tonnes as commercial production was only declared in February 2016.\n· Sustainable recovery rate during Q1 2017 at expanded throughput of 84.63% (Q1 2016: 82.93%), similar to Q4 2016 (84.47%).\n· 2.2 million tonnes of ore were processed during Q1 2017 (Q1 2016: 1.1 million tonnes). Ore processed during Q4 2016 amounted to 2.0 million tonnes.\n· Atalaya maintains its copper production guidance of 34,000 to 40,000 tonnes for 2017.\nFinancial Highlights\nNote: Commercial production was only declared at the start of February 2016.\n· Revenues of €25.6 million for Q1 2017 compared with €4.9 million in Q1 2016.\n· A reduction in cash costs during Q1 2017 to $1.83/lb of payable copper (Q1 2016: $2.28/lb), compared with a cash cost of $1.95/lb of payable copper in the previous quarter. All-in sustaining cost during Q1 2017 including capitalized stripping remains flat at $2.15/lb of copper payable.\n· Positive Earnings Before Interest, Taxation, Depreciation and Amortisation (\"EBITDA\") of €12.6 million in Q1 2017 compared with a negative EBITDA of €2.5 million in Q1 2016. The increase of €15.1 million in EBITDA was a result of the increase in the volume of copper concentrate sold, lower cash costs and higher realised copper prices.\n· Q1 2017 profits amounted to €5.2 million (or €4.5 cents per share) compared with a loss for Q1 2016 amounting to €3.3...