Business
Results of New PEA for Riotinto
Results of New PEA for Riotinto.
About this update from Atalaya Mining Copper Sa
[{"type":"text","content":"\n \n \n \n \n \n \n Atalaya Mining Plc\n \n \n \n 1 Lampousas Street\n \n \n 1095 Nicosia, Cyprus\n \n \n Tel: +357 22442705\n \n \n Fax: +357 22442708\n \n \n www.atalayamining.com\n \n \n \n \n \n \n \n \n 23 February 2023\n \n \n \n \n Atalaya Mining Plc.\n \n \n \n (\"Atalaya\" or \"the Company\")\n \n \n \n Results of New Preliminary Economic Assessment for Riotinto\n \n \n \n \n Demonstrates the potential for strong economics and production growth\n \n \n \n \n \n \n \n \n Atalaya Mining Plc (AIM: ATYM, TSX: AYM) is pleased to announce the results from a new preliminary economic assessment (\"PEA\") for the Cerro Colorado, San Dionisio and San Antonio deposits at its Proyecto Riotinto (\"Riotinto\") operation in Spain.\n \n \n 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. \n \n \n \n PEA Highlights\n \n \n \n ·\n Strong potential economic results over a range of metals price assumptions\n \n \n ‒\n $1.07 billion NPV(8%) after-tax at $3.50/lb Cu, $1.20/lb Zn and $0.95/lb Pb (\"Base Case\" metals prices)\n \n \n ‒\n $1.57 billion NPV(8%) after-tax at $4.03/lb Cu, $1.20/lb Zn and $0.95/lb Pb (\"Sensitivity Case\" metals prices)\n \n \n ‒\n Economics benefit from significant in-place infrastructure at Riotinto\n \n \n ·\n Potential uplift in production as a result of processing higher grade material\n \n \n ‒\n ~60 ktpa Cu during copper stockwork-only phase (2023-2026)\n \n \n ‒\n ~90 ktpa CuEq during polymetallic massive sulphide phase (2027+)\n \n \n ·\n Potential reduction in cash costs due to higher grades and by-product credits\n \n \n ‒\n $2.00/lb Cu payable Cash Costs (LOM average)\n \n \n ‒\n $2.03/lb Cu payable Cash Costs + Sustaining (LOM average)\n \n \n ·\n Mineralised material of ~241 Mt supports a potential mine life of 15.6 years\n \n \n ‒\n Provides significant long-term optionality to rising metals prices\n \n \n \n The PEA is preliminary in nature, and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic cons...