Atalaya files technical report related to new Riotinto assessment
By Josh White
Date: Friday 24 Mar 2023
(Sharecast News) - Atalaya Mining announced the filing of a technical report related to the new preliminary economic assessment (PEA) for its Proyecto Riotinto operation in Spain on Friday.
The AIM-traded firm said the PEA incorporated the Cerro Colorado, San Dionisio, and San Antonio deposits into a new integrated mine plan for Riotinto.
Riotinto is the company's flagship asset, consisting of the operating Cerro Colorado open pit mine, a modern 15 million tonnes-per-annum processing plant, and significant supporting infrastructure.
The San Dionisio and San Antonio deposits are located adjacent to the Cerro Colorado pit, and the aim of the PEA was to incorporate those deposits into the existing mine plan.
Atalaya announced the results of the PEA on 23 February.
"The PEA demonstrated strong potential economic results over a range of metals price assumptions, including an after-tax 8%-discounted net present value of $1.07bn at $3.50 per pound of copper, $1.20 per pound of zinc and 95 US cents per pound of lead, and an after-tax 8%-discounted net present value of $1.57bn at $4.03 per pound of copper, $1.20 per pound of zinc and 95 cents per pound of lead," the board said in its announcement.
At 1435 GMT, shares in Atalaya Mining were up 0.36% at 351.25p.
Reporting by Josh White for Sharecast.com.
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