Aim- and TSX-listed Atalaya Mining on Thursday reported profit of €34.44-million for 2018 – an 89% increase on that of 2017.
The company, which operates the Proyecto Riotinto mine, in Spain, posted revenue of €189.5-million as a result of 183 368 t of concentrate sold in 2018. This compares with revenue of €160.5-million and sales of 158 591 t in 2017.
Group operating costs and corporate costs amounted to €128.9-million and €5.9-million, respectively, providing earnings before interest, taxes, depreciation and amortisation of €53.5-million for the 12 months.
Cash costs for 2018 were $1.94/lb of payable copper, below the revised guidance of $1.95/lb, providing healthy margins and positive cash flows at average realised copper prices of $2.95/lb during the year.
The all-in sustaining costs (AISC) averaged $2.26/lb of payable copper for the year, within the revised guidance of $2.25/lb to $2.40/lb.
Atalaya’s production guidance for 2019 is estimated in the range of 45 000 t to 46 500 t and the AISC is in a range of $2.25/lb to $2.45/lb.