Atalaya Mining PLC - Nicosia, Cyprus-headquartered copper producer with a portfolio of assets in Spain - Says operations mostly ‘performed well’ but copper production was down 6.8% to 52,300 tonnes in 2022 from 56,100 tonnes in 2021 due to lower grades and throughput. Processing plant ‘performed solidly’ despite stoppage related to transport sector strike in first quarter. Average feed grade of 0.4% copper and around 86% process recovery rate consistent with estimates and budget. Lower production and lower average realised copper price behind revenue decrease to €361.8 million from €405.7 million. However Atalaya says strong operating performance in late 2022 has continued into current year. Production guidance for 2023 therefore remains between 53,000 and 55,000 tonnes as announced in April. Figures given in statement by Non-Executive Chair Roger Davey, to be delivered at annual general meeting today.

Current stock price: 323.00 pence, up 0.9% on Wednesday

12-month change: down 3.9%

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