Atalaya Mining PLC Announces Q3 and YTD 2022 Financial Results

Full year guidance reaffirmed and positive outlook for Q4 and beyond

NICOSIA, CYPRUS / ACCESSWIRE / November 9, 2022 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM) is pleased to announce its third quarter and nine-month results for the period ended 30 September 2022 ("Q3 2022" or the "Period" and "YTD 2022" respectively) together with its Unaudited Interim Condensed Consolidated Financial Statements.

The Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 September 2022 are also available under the Company's profile on SEDAR at www.sedar.com and on Atalaya's website at www.atalayamining.com.

Highlights

· Consistent quarter of production, supporting confidence in full year guidance

· EBITDA of €37.1 million in YTD 2022 despite extremely high electricity prices and other input cost inflation, which resulted in EBITDA of negative €4.3 million in Q3 2022

· Maintained a strong balance sheet with net cash of €55.6 million

· Continued investments in growth, future cost reductions and decarbonisation via exploration programme, 50 MW solar plant and E-LIX Phase I project

· Lower power prices post quarter end support positive outlook for Q4 2022 and into 2023 when new power purchase agreement and 50 MW solar plant are expected to materially lower costs

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SOURCE: Atalaya Mining PLC