Atalaya Mining PLC Announces Q1 2022 Financial Results

Good Financial Performance Despite Impact of Energy Prices, Inflation and Transport Sector Strike

NICOSIA, CYPRUS / ACCESSWIRE / May 19, 2022 / Mining Plc (AIM:ATYM); (TSX:AYM) is pleased to announce its unaudited quarterly results for the three months ended 31 March 2022 (“Q1 2022” or “Period”), together with its unaudited interim financial statements for Q1 2022.

The Unaudited Interim Condensed Consolidated Financial Statements for the three months ended 31 March 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

• Good financial performance including cash flows from operating activities of €28.3 million, despite unprecedented energy costs, inflationary pressures and transport sector strike
• Continued to strengthen the balance sheet, with net cash position growing to €86.8 million
• Maintaining 2022 full year operational outlook including copper production of 54 – 56 kt
• Growth pipeline advancing as outlined in the April 2022 announcements of new Mineral Resource Estimates for higher grade Riotinto District deposits – San Dionisio, San Antonio and Proyecto Masa Valverde

Q1 2022 Financial Results Summary

Quarter ended 31 March	Unit	Q1 2022	Q1 2021	%
Revenues from operations	€k	86,251	97,380	(11.4%)
Operating costs	€k	(54,789)	(48,026)	14.1%
EBITDA	€k	26,712	47,443	(43.7%)
Profit for the period	€k	18,257	33,702	(45.8%)
Basic earnings per share	€ cents/share	13.5	24.5	(44.9%)
Cash flows from operating activities	€k	28,298	36,803	(23.1%)
Cash flows used in investing activities (1)	€k	(7,552)	(63,930)	(88.2%)
Cash flows from financing activities	€k	(2,378)	52,948	(104.5%)
Net cash position (2)	€k	86,836	10,588	720.1%
Working capital surplus	€k	120,124	61,028	96.8%
Average realised copper price	US$/lb	4.42	3.62	22.2%
Cu concentrate produced	tonnes	54,209	67,260	(19.4%)
Cu production	tonnes	11,461	13,979	(18.0%)
Cash costs	US$/lb payable	3.33	2.04	63.5%
All-In Sustaining Costs (“AISC”)	US$/lb payable	3.59	2.46	46.0%

Quarter ended 31 March	Unit	Q1 2022	Q1 2021	%
Revenues from operations	€k	86,251	97,380	(11.4%)
Operating costs	€k	(54,789)	(48,026)	14.1%
EBITDA	€k	26,712	47,443	(43.7%)
Profit for the period	€k	18,257	33,702	(45.8%)
Basic earnings per share	€ cents/share	13.5	24.5	(44.9%)
Cash flows from operating activities	€k	28,298	36,803	(23.1%)
Cash flows used in investing activities (1)	€k	(7,552)	(63,930)	(88.2%)
Cash flows from financing activities	€k	(2,378)	52,948	(104.5%)
Net cash position (2)	€k	86,836	10,588	720.1%
Working capital surplus	€k	120,124	61,028	96.8%
Average realised copper price	US$/lb	4.42	3.62	22.2%
Cu concentrate produced	tonnes	54,209	67,260	(19.4%)
Cu production	tonnes	11,461	13,979	(18.0%)
Cash costs	US$/lb payable	3.33	2.04	63.5%
All-In Sustaining Costs (“AISC”)	US$/lb payable	3.59	2.46	46.0%

1. Q1 2021 includes €53 million early payment of the Deferred Consideration to Astor.
2. Includes restricted cash and bank borrowings at 31 March 2022 and 31 March 2021.

Click on, or paste the following link into your web browser, to view the full announcement text:

http://www.rns-pdf.londonstockexchange.com/rns/0290M_1-2022-5-18.pdf

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SOURCE: Atalaya Mining PLC

View source version on accesswire.com:
https://www.accesswire.com/701971/Atalaya-Mining-PLC-Announces-Q1-2022-Financial-Results

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