Atalaya Mining Reports Record Earnings and Ups Full-Year Outlook

Atalaya Mining has announced strong financial results for the second quarter and first half of 2023, with record earnings and a positive revision to its full-year outlook. The copper producer reported 13,175 tonnes of copper output in Q2, with half-year production reaching 27,466 tonnes, a significant increase from 22,249 tonnes in the same period last year. The company's quarterly earnings totalled €55.1 million and €107.6 million for the first half, both new company records.

Key Takeaways:

• Atalaya Mining's copper output in Q2 2023 reached 13,175 tonnes, a significant increase from 9,813 tonnes in the same period the previous year.
• The company's half-year copper production totalled 27,466 tonnes, up from 22,249 tonnes in the same period last year, thanks to higher grades and efficient plant performance.
• Atalaya's cash costs fell to $2.21 per pound of payable copper in Q2 2023, down from $2.88 last year, while all-in sustaining costs dropped to $2.81 per pound.
• The company's net cash position rose to €70.1 million at the end of June, with an interim dividend declared of €0.044 per share.
• Atalaya Mining upgraded its full-year production guidance to between 49,000 and 52,000 tonnes of copper, alongside lower cash cost estimates.
• Mining activity has ramped up at growth projects, including San Dionisio and Masa Valverde, with environmental approvals in progress.
• The company remains confident in delivering consistent performance while advancing its development pipeline.

Statistics:

• Copper output in Q2 2023: 13,175 tonnes
• Half-year copper production (2023): 27,466 tonnes
• Cash costs (Q2 2023): $2.21 per pound of payable copper
• All-in sustaining costs (Q2 2023): $2.81 per pound
• Net cash position (end of June 2023): €70.1 million
• Interim dividend (2023): €0.044 per share
• Full-year production guidance: 49,000 - 52,000 tonnes of copper

Sources:

• Atalaya Mining (AIM:ATYM, TSX:AYM) press release, as cited in the article.