Video

Close Video

Overview

AfriTin Mining Limited (AIM: ATM) is the first pure tin company listed in London and its vision is to create a portfolio of globally significant, conflict-free, tin-producing assets. The Company’s flagship asset is the Uis Tin Mine in Namibia, formerly the world’s largest hard-rock opencast tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast-track Uis Tin Mine in Namibia to commercial production as Phase 1, ramping up to 5,000 tonnes of concentrate per annum in a Phase 2 expansion. To this end AfriTin achieved ‘nameplate’ tin concentrate production of 63.9 tonnes at its the Uis Tin Mine, at the end of 2020.

The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory, achieving production in the near term and further scaling production by consolidating tin assets in Africa.

www.afritinmining.com

Directors

  • Glen Parsons (Chairman):  20rs+ international experience in company building, corporate finance, treasury, operational and general management. Most recently as CEO of Mariana Resources
  • Anthony Viljoen (CEO):  Mining entrepeneur & founding shareholder of VM Investment Company. Founding director &CEO of ASX-listed Lemur Resources and NED of Bushveld Minerals.
  • NED’s: Terence Goodlace, Laurence Robb

Financials

P&L29 Feb 2020
£~000
28 Feb 2019
£~000
Revenue6927
Admin expenses(1,815)(1,098)
Operating Profit/ (Loss)(1,794)(1,071)
Profit/ (Loss) for the year(1,830)(1,058)
Balance Sheet29 Feb 2020
£~000
28 Feb 2019
£~000
Non-current assets19,90912,797
Cash & cash equivalents5751,781
Total equity & liabilities21,37915,079

Peer Group

  • Alphamin Resources (TSX: AFM): Tin production in DRC
  • Cornish Metals (TSX: CUSN): Tin exploration in UK

Major Shareholders

Directors

  • Anthony Viljoen – 1.11%
  • Glen Parsons – 0.33%
  • Laurence Robb – 0.11%

Other

  • Naminco Ltd – 14.08%
  • The Orange Trust – 9.9%
  • Bushveld Minerals – 7.96%
  • Acacia Resources – 6.31%
  • Hargreave Hale – 5.5%

Macro Indicators

Mining Journal: Tin to muscle in on EV revolution (December 2020)

“The tin industry is bracing itself for an uplift in demand driven by the rise of EVs and other high-tech applications….Annual demand growth for tin currently sits at 2%. The International Tin Association (ITA) sees that figure rising to 4% in 2024.”

Media Coverage

Miningweekly.com: “Uis mine reaches nameplate concentrate production in November” (Dec 2020)

“Aim-listed tin miner AfriTin Mining successfully completed Stage 1 of the Phase 1 production ramp-up of its pilot mining and processing facility, achieving 63.9 t of tin concentrate (containing 41.6 t of tin metal) in November – a 32% improvement on the previous month.

Broker Coverage

Turner Pope (December 2020: House Broker)

“Having seen spot Tin prices sustain the dramatic recovery that began in May 2020 now taking them close to 17-month highs in anticipation of governments around the world embarking on significant infrastructural and other development programmes to support their post-Pandemic economies, AfriTin has potential to deliver positive monthly operational cash flow for the first time during calendar H1 2021. ”

Submit your details to be kept up to date with announcements regarding AfriTin Mining Ltd

We have a strict data protection policy and will not share your details with external parties.