2021 Annual Results: Achieved new record production, EBITDA and cash flow as well as enhancing asset portfolio
NICOSIA, CYPRUS / ACCESSWIRE / March 24, 2022 / Atalaya Mining Plc (AIM:ATYM)(TSX:AYM) is pleased to announce its audited consolidated results for the year ended 31 December 2021 ("FY2021" or the "Period") and the publication of its Annual Report for the Period.
The Audited Consolidated Financial Statements and Annual Report for FY2021 are also available under the Company's profile on SEDAR at www.sedar.com and on Atalaya's website at www.atalayamining.com.
FY2021 Highlights
- Record annual copper production of 56,097 tonnes
- Record financial performance, including EBITDA of €199.1 million and cash flows from operating activities of €148.8 million
- Asset portfolio enhanced - Cerro Colorado reserves, optioned Riotinto East, acquired Ossa Morena, approved E-LIX Phase I and 50MW solar plant, Masa Valverde exploration
- Paid inaugural dividend of US$0.395 per ordinary share (~US$54.6 million) and announced future dividend policy
- Ended the Period with robust balance sheet including net cash of €60.1 million
FY2021 Financial Results Summary
| Year ended 31 December | 2021 | 2020 | Var. (%) | |
| Revenues from operations | €k | 405,717 | 252,784 | 60.5 |
| Operating costs | €k | (206,603) | (185,341) | 11.1 |
| EBITDA | €k | 199,114 | 67,444 | 195.2 |
| Profit after tax for the period | €k | 132,226 | 30,390 | 335.1 |
| Basics earnings per share | € cents/share | 96.7 | 22.9 | 322.3 |
| Dividend per share | $/share | 0.395 | - | |
| Cash flows from operating activities | €k | 148,841 | 62,916 | 136.6 |
| Cash flows used in investing activities (1) | €k | (87,531) | (30,160) | 190.2 |
| Cash flows from in financing activities | €k | 1,851 | 760 | 143.6 |
| Net cash / (debt) position (2) | €k | 60,073 | (15,233) | n.a. |
| Working capital surplus | €k | 102,430 | (17,904) | n.a. |
| Average realised copper price | $/lb | 4.14 | 2.70 | 53.3 |
| Cu concentrate produced | (tonnes) | 270,713 | 256,001 | 5.7 |
| Cu production | (tonnes) | 56,097 | 55,890 | 0.4 |
| Cash costs | $/lb payable | 2.18 | 1.95 | 11.8 |
| All-In Sustaining Cost ("AISC") | $/lb payable | 2.48 | 2.21 | 12.2 |
- Includes €53 million early payment of the Deferred Consideration to Astor.
- Includes restricted cash and bank borrowings at 31 December 2021 and 2020.
FY2021 Operating Results Summary
Units expressed in accordance with the international system of units (SI) | Unit | 2021 | 2020 |
Ore mined | Mt | 13.5 | 13.6 |
Ore processed | Mt | 15.8 | 14.8 |
Copper ore grade | % | 0.41 | 0.45 |
Copper concentrate grade | % | 20.72 | 21.83 |
Copper recovery rate | % | 85.97 | 84.53 |
Copper concentrate | t | 270,713 | 256,001 |
Copper contained in concentrate | t | 56,097 | 55,890 |
Payable copper contained in concentrate | t | 53,390 | 53,330 |
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SOURCE: Atalaya Mining PLC