Slide 1: European copper producer with operations in Spain
European copper producer with operations in Spain Q1 2024 Financial Results 21 May 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 Competent Persons Report (CPR) entitled “An Independent Competent Persons Report on the Mineral Asse
Slide 4: Corporate Activities Update
Corporate Activities Update
Slide 5: Move to LSE Main Market
Move to LSE Main Market Admission to Premium listing segment marks major milestone for Atalaya Admission: 29 April 2024 5
Slide 6: Proposed Re-domiciliation
Proposed Re-domiciliation Opens the possibility for inclusion in the FTSE UK Index Series(1) Background to Revised Process Tentative Timetable ▪ Intention is to re-domicile the Company by Publication of Cross-Border 21 May 2024 transferring its registered office from the Conversion Report Republic o
Slide 7: 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 as at 30 April 2024, company filings Note: Copper revenue contribution based on last reported fina
Slide 8: 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, $1.20/lb Z
Slide 9: Copper Market Outlook
Copper Market Outlook Near-term and long-term supply challenges support robust outlook for copper Copper Price (US$/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 10: Q1 2024 Financial Results
Q1 2024 Financial Results
Slide 11: Review of Q1 2024
Review of Q1 2024 Good cost control expected to support performance as copper market strengthens ‒ Copper production of 10.7 kt Cu due to lower grades and recoveries ‒ Two plant shutdowns were scheduled (for maintenance and 50 MW solar plant connection) Operating ‒ Cash costs of $2.99/lb Cu and AISC
Slide 12: Q1 2024 Production Results
Q1 2024 Production Results Lower production due to lower grades and recoveries Copper production Ore Throughput (Mt) 10,666 tonnes Cu 12,139 tonnes Cu | Q1 2023 Throughput & recoveries 3.7 Mt ore processed 0.34% Cu ore grade Copper Recovery 3.7 Mt | Q1 2023 0.38% | Q1 2023 84.74% Cu recovery 86.88%
Slide 13: Q1 2024 Financial Results
Q1 2024 Financial Results Lower operating costs party offset lower copper revenues Income statement highlights Revenues (€m) Revenue: €69.9m Op. costs: €(59.7)m €91.2m | Q1 2023 €(66.8)m | Q1 2023 EBITDA: €10.3m Profits: €1.6m €24.4m | Q1 2023 €11.1m | Q1 2023 Cash flow statement highlights EBITDA (
Slide 14: Cash Costs & AISC Breakdown
Cash Costs & AISC Breakdown Q1 2024 unit costs were within guidance range for FY2024 $/lb Copper Payable Q1 2024 Q1 2023 FY2023 FY2022 ▪ Cash costs and AISC in Q1 2024 Mining 0.99 0.83 0.86 0.79 were within the Processing 0.91 0.97 0.89 1.31 FY2024 guidance range Other site operating costs 0.67 0.52
Slide 15: AISC Benchmarking
AISC Benchmarking ATYM cost positioning is competitive vs. notable copper producer peers Reported AISC (US$/lb) Source: Company filings Note: Peers that do not disclose AISC include Central Asia Metals, Ero Copper, Sandfire and Taseko 15
Slide 16: Focus for 2024
ATALAYA MINING > Focus for 2024
Slide 17: San Dionisio Deposit
San Dionisio Deposit Waste stripping is underway and will prepare the area for future mining phases April 2024 Copper Resource Grade (M&I) 17
Slide 18: San Dionisio Deposit
San Dionisio Deposit Waste stripping progress May 2024
Slide 19: E-LIX Phase I Plant
E-LIX Phase I Plant Commissioning in progress; expected to unlock significant value April 2024 Recoveries 19
Slide 20: E-LIX Phase I Plant
E-LIX Phase I Plant Capable of producing high purity copper and zinc at mine site January 2024 20
Slide 21: E-LIX Phase I Plant
E-LIX Phase I Plant Commissioning and ramp-up is progressing Recovered zinc precipitate “Cleaned” copperJanuary 2024 concentrate 21
Slide 22: 50 MW Solar Plant
50 MW Solar Plant Expected to lower Atalaya’s carbon footprint and deliver cost savings May 2024 Electricity Sources 22
Slide 23: Proyecto Touro
Proyecto Touro Past producing mine and currently operating as an aggregate quarry 23
Slide 24: Key Activities for 2024
Key Activities for 2024 Main Market: Admitted to trading on 29 April 2024 Re-domiciliation: Advancing process according to new Cyprus legislation E-LIX: Commissioning and ramp-up continues 50MW solar plant: Start-up is expected in late 2024 San Dionisio: Continuation of stripping activities and perm
Slide 25: Appendix
ATALAYA MINING > Appendix
Slide 26: Key Information
Key Information Capitalisation Share Price Performance (GBp) Ticker - LSE: AIM ATYM Share price (17-May-24) GBp 480 Basic shares m 140.0 Fully-diluted shares m 144.7 Market capitalisation (basic) £m 672 Market capitalisation (basic) US$m $851 Cash (at 31-Mar) €m 86 Debt (at 31-Mar) €m 50 Enterprise
Slide 27: 2024 Guidance
2024 Guidance Unchanged Operational Guidance ▪ Production Mt ~19 Ore mined ‒ Guidance unchanged due to expectation of higher copper Waste mined(1) Mt ~25 grades in coming quarters (to be reviewed on ongoing Ore processed Mt 15.3 – 15.8 basis) ▪ Costs Copper ore grade 0.39 – 0.41% ‒ Guidance is consi
Slide 28: Electricity Prices in Spain
Electricity Prices in Spain Market electricity prices have returned to long-run historical averages 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 to leg
Slide 29: 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 132.0 0.37% - - - - 0.5 - - - - 0.5 0.5 0.5 M&I 156.6 0.37% 0.15% 0.03% - - 0.6 0.2 0.0
Slide 30: 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 31: 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 32: Atalaya Mining plc
Contacts: Atalaya Mining plc Alberto Lavandeira, CEO +34 959 59 28 50 info@atalayamining.com