Atalaya Mining PLC: Q3 Operations Update

ACROPOLIS, CYPRUS / ACCESSWIRE / October 12, 2017 / Atalaya Mining plc (AIM: ATYM, TSX: AYM) is pleased to announce its operations update for the three months ended September 30, 2017.

PROYECTO RIOTINTO

Third Quarter

Second Quarter

Full year forecast

2017

2016

2017

2017

Ore mined

(M tonnes)

2.4

2.5

2.3

9.0 – 9.2

Waste mined

(M tonnes)

5.2

3.6

4.6

18.1 – 18.2

Ore milled

(M tonnes)

2.2

2.0

2.2

8.7 – 9.0

Cu grade

(%)

0.58

0.52

0.49

0.49 – 0.51

Cu recovery

(%)

85.95

83.60

85.09

82 – 84

Cu production

(tonnes)

10,679

8,752

9,058

36,000 – 39,000

Copper production at Proyecto Riotinto has increased almost 18 % to record production levels versus Q2. All other parameters were well above targets for the quarter ended September 30, 2017. The operation reported an average copper head grade of 0.58%, a throughput rate of 2.2 million tonnes of ore processed and a recovery rate of 85.95 %. Record production of 10,679 tonnes of copper contained in concentrate is the result of higher copper head grade and recovery rates than initially anticipated. Guidance for copper production has been adjusted accordingly and is now estimated to be within the range of 36,000 – 39,000 tonnes.

Mining operations are running at a consistent rate quarter-on-quarter, as a result of improved operational efficiencies and the availability of additional mining fleet. On a combined basis, ore, waste and marginal ore amounted to 2.7 Mm3 in Q3 2017 versus 2.8 Mm3 in Q2 2017. As part of the mining fleet replacement programme three new excavators and eight new trucks have been delivered, assembled and commissioned during the quarter. The processing plant was down for maintenance during the last five days of the quarter when relining of the primary mill and other maintenance activities were completed.

Contacts:

Newgate Communications
Charles Chichester / James Ash / James Browne
+44 20 7680 6550

Canaccord Genuity (NOMAD and Joint Broker)
Henry Fitzgerald-O’Connor / Martin Davison / James Asensio
+44 20 7523 8000

BMO Capital Markets (Joint Broker)
Jeffrey Couch/Neil Haycock/Tom Rider
+44 20 7236 1010

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/3755T_1-2017-10-11.pdf

SOURCE: Atalaya Mining plc

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