Slide 1: European copper producer with operations in Spain
European copper producer with operations in Spain 2023 Annual Results 19 March 2024
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by Atalaya Mining Plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers
Slide 3: Disclaimer: Technical Disclosure
Disclaimer: Technical Disclosure Technical Disclosure – Proyecto Riotinto Unless otherwise noted, all scientific and technical information relating to Proyecto Riotinto is based on and derived from a technical report entitled “Technical Report On the Riotinto Copper Project” dated September 2022, pr
Slide 4: 2023 Annual Financial Results
2023 Annual Financial Results
Slide 5: Review of FY2023
Review of FY2023 Lower costs and balance sheet strength position Atalaya for next growth phase ‒ Copper production of 51.7 kt in FY2023 (vs. 52.3 kt in FY2022) ‒ Strong plant throughput of 15.8 Mt and recoveries of 86.62%, partly offsetting lower grades Operating ‒ Cash cost of $2.79/lb Cu and AISC
Slide 6: Q4 2023 Production Results
Q4 2023 Production Results Good throughput helped to offset lower grades Copper production Ore Throughput (Mt) 12,775 tonnes Cu 13,969 tonnes Cu | Q4 2023 Throughput & recoveries 4.1 Mt ore processed 0.36% Cu ore grade Copper Recovery 4.0 Mt | Q4 2023 0.41% | Q4 2023 85.47% Cu recovery 19.83% con. g
Slide 7: Q4 2023 Financial Results
Q4 2023 Financial Results Lower concentrate sales resulted in lower EBITDA Income statement highlights Revenues (€m) Revenue: €85.6m Op. costs: €(71.7)m €99.9m | Q4 2022 €(81.7)m | Q4 2022 EBITDA: €13.9m Profits: €5.2m €18.2m | Q4 2022 €8.0m | Q4 2022 Cash flow statement highlights EBITDA (€m) Opera
Slide 8: FY2023 Financial Results
FY2023 Financial Results Higher EBITDA and operating cash flow due to lower operating costs Income statement highlights Revenue: €340.3m Op. costs: €(267.2)m €361.8m | FY2022 €(306.5)m | FY2022 EBITDA: €73.1m Profits: €36.7m €55.3m | FY2022 €30.9m | FY2022 Cash flow statement highlights Operating CF
Slide 9: Cash Costs & AISC Breakdown
Cash Costs & AISC Breakdown Achieved lower costs in FY2023, consistent with guidance $/lb Copper Payable Q4 2023 Q4 2022 FY2023 FY2022 ▪ Reduction in cash costs and Mining 0.92 0.70 0.86 0.79 AISC mainly due Processing 0.84 1.11 0.89 1.31 to substantially lower electricity Other site operating costs
Slide 10: Electricity Prices in Spain
Electricity Prices in Spain FY2023 realised prices were 60% below FY2022 and have fallen further in 2024 Spot Market + Adjustment in Spanish System (€/MWh)(1)(2) 1. Source: OMI, Polo Español S.A. (OMIE), day-ahead operations program 2. Since 15-Jun-2022, includes daily adjustment mechanism related t
Slide 11: AISC Benchmarking
AISC Benchmarking ATYM cost positioning is competitive vs. notable copper producer peers Reported AISC (US$/lb) Source: Company filings Note: Peers that do not disclose AISC include Central Asia Metals, Ero Copper, Sandfire and Taseko 11
Slide 12: 2024 Outlook
ATALAYA MINING > 2024 Outlook
Slide 13: 2024 Guidance
2024 Guidance Steady operations expected, with key investments focused on growth Operational Guidance ▪ Production Ore mined Mt ~19 ‒ Consistent with FY2023 levels ‒ Weighted slightly towards H2 Waste mined(1) Mt ~25 2024 due to grade profile Ore processed Mt 15.3 – 15.8 ▪ Costs ‒ Consistent with FY
Slide 14: San Dionisio Deposit
San Dionisio Deposit Initial stripping is underway to prepare the area for future mining phases February January 2024 2024 Copper Resource Grade (M&I) 14
Slide 15: E-LIX Phase I Plant
E-LIX Phase I Plant Commissioning in progress; expected to unlock significant value February 2024 Recoveries 15
Slide 16: E-LIX Phase I Plant
E-LIX Phase I Plant Capable of producing high purity copper and zinc at mine site January 2024 16
Slide 17: 50 MW Solar Plant
50 MW Solar Plant Expected to lower Atalaya’s carbon footprint and deliver cost savings February 2024 Electricity Sources 17
Slide 18: Proyecto Touro
Proyecto Touro Past producing mine and currently operating as an aggregate quarry 18
Slide 19: Intention to Move to Main Market
Intention to Move to Main Market Premium listing expected to broaden appeal to new institutional investors Overview ▪ In November 2023, Atalaya announced its intention to apply for the Company's ordinary shares to be: ‒ Admitted to the premium listing segment of the Official List maintained by the F
Slide 20: Key Activities for 2024
Key Activities for 2024 E-LIX: Ramp-up expected during H1 2024 50MW solar plant: Initial power generation expected to begin in Q2 2024 San Dionisio: Continuation of stripping activities and permitting process for final pit Touro: Advance permitting process and continue stakeholder engagement Explora
Slide 21: Conclusion
ATALAYA MINING > Conclusion
Slide 22: Illustrative Production Potential
Illustrative Production Potential Growth driven by higher grades at Riotinto and potential Touro development Copper Equivalent Production (kt)(1)(2) 1. Recovered metal in concentrate. 2. Copper Equivalent production is calculated from results presented in the PEA and based on $3.50/lb Cu, $1.20/lb Z
Slide 23: Scarcity of Copper "Pure Plays"
Scarcity of Copper “Pure Plays” Atalaya is the 2nd largest copper “pure play” listed in London LSE Miners by Market Capitalisation (£bn) and Copper Contribution to Revenue Source: London Stock Exchange, company filings Note: Copper revenue contribution based on last reported financial or trading sta
Slide 24: Copper Market Outlook
Copper Market Outlook Near-term and long-term supply challenges support robust outlook for copper Copper Price (US$/lb) Copper Demand Drivers ▪ Steady annual demand growth of 2.5 – 3.0% ‒ Equivalent to the production of a top 5 global mine ▪ Visible copper inventories are at multi-year lows ▪ Accele
Slide 25: Appendix
ATALAYA MINING > Appendix
Slide 26: Investment Highlights
Investment Highlights ▪European MAP copper producer with scale, growth and consistency ‒ Copper production of >50 ktpa from Cerro Colorado alone ▪‒ ASSETS Potential to grow copper equivalent production to >100 ktpa via existing portfolio ‒ Riotinto reserves plus adjacent deposits support long life-o
Slide 27: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: AIM ATYM Share price (15-Mar-24) GBp 357 Basic shares m 139.9 Fully-diluted shares m 144.7 Market capitalisation (basic) £m 499 Market capitalisation (basic) US$m $637 Cash (at 31-Dec) €m 121 Debt (at 31-Dec) €m 67 Enterprise
Slide 28: Reserves and Resources
Reserves and Resources Attributable Grade Contained Metal Contained Metal Asset Ownership Tonnage Cu Zn Pb Au Ag Cu Zn Pb Au Ag CuEq Cu CuEq Notes Mt g/t g/t Mt Mt Mt Moz Moz Mt Mt Mt Cerro Colorado 100% Reserves 185.7 0.38% - - - - 0.7 - - - - 0.7 0.7 0.7 M&I 200.7 0.37% 0.15% 0.03% - - 0.7 0.3 0.1
Slide 29: Senior Management
Senior Management Decades of operations, project development and financial expertise Alberto Lavandeira César Sánchez Enrique Delgado Chief Executive Officer, Director Chief Financial Officer Operations – General Manager, Proyecto Riotinto Over 40 years’ experience Former CFO of companies in Former
Slide 30: Board of Directors
Board of Directors Mining, capital markets, sustainability and finance expertise Non-Executive Chair of the Over 40 years’ experience in the mining industry. Former Senior Mining Engineer at NM Rothschild & Sons; Roger Davey Board former Director, VP and GM, AngloGold (Argentina). Currently a direct
Slide 31: Atalaya Mining plc
Contacts: Atalaya Mining plc Alberto Lavandeira, CEO +34 959 59 28 50 info@atalayamining.com