3rd Quarter Financial Results

2017-11-16 / @fscwire

3rd Quarter Financial Results

Nicosia, Cyprus (FSCwire) - Atalaya Mining Plc (AIM: ATYM; TSX: AYM) with its subsidiaries is pleased to announce its unaudited quarterly results for the three and nine months ended 30 September 2017, together with the unaudited, condensed, interim consolidated financial statements.

Operational Highlights

Proyecto Riotinto

· Copper production during Q3 2017 was a record of 10,679 tonnes, 18.0% higher than the previous quarter´s production of 9,058 tonnes. Copper production during the nine months ended 30 September 2017 ("YTD17") was 28,542 tonnes compared with 16,728 tonnes during the nine months ended 30 September 2016 ("YTD16").

· Ore processed during the quarter was 2,173,826 tonnes in line with prior quarter when ore processed was 2,154,907 tonnes. During YTD17 ore processed was 6,525,032 tonnes compared with 4,476,617 tonnes during YTD16.

· Copper recovery during the quarter was 85.95% slightly above the previous quarter of 85.16%. Copper recovery for YTD17 averaged 85.22% representing an improvement over 82.87% during YTD16.

· Guidance for copper production has been adjusted accordingly and is now estimated to be within the range of 36,000 to 39,000 tonnes for 2017.

Expansion of Proyecto Riotinto

· During the quarter, the study to demonstrate the feasibility of increasing mining and processing capacity beyond the current 9.5 Mtpa, to a maximum of 15.0 Mtpa at Proyecto Riotinto was finalised.

· The study has concluded the expansion is technically and financially robust. The Board is encouraged by these results and will provide further details on the expansion over the coming weeks.

· Estimated copper production of the expanded plant would reach approximately 50,000 - 55,000 tonnes per year.

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END

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Source: Atalaya Mining Plc (TSX:AYM, AIM:ATYM)

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