AfriTin Mining eyes tonnes of tin from flagship Uis mine

AfriTin Mining is a mining company with a portfolio of near production tin assets in Namibia (Uis project) and South Africa (Mokopane Tin).

(, ) reported revenues of GBP5.1mln in the six months to August 2021, an increase of 468% over the corresponding six-month period a year earlier.

Gross profit margin was 22, positive free cash flow generated was GBP560,000, and cash and cash equivalent amounted to GBP6.3mln at period as the company’s tin producing operation at Uis in Namibia really began to show its worth.

313 tonnes of tin concentrate were shipped to the company’s offtake partner, Thaisarco, during the six-month period.

Expansion is now underway at Ui, with testing ongoing in regard to the future production of lithium and tantalum.

(, ) said it has agreed a 90mln Namibian dollar (GBP4.5mln) loan facility with Standard Bank Namibia Ltd to fund the expansion of the Phase 1 processing plant at its flagship Uis tin mine.

The expansion is planned to increase tin concentrate production by 67% from 720 tonnes of tin concentrate per annum to 1,200 tonnes of tin concentrate per annum. Construction of the expansion and commissioning is expected to be completed in the second quarter of 2022 followed by a three-month ramp-up to nameplate capacity.

(, ) produced 185 tonnes of tin concentrate from its Uis mine in Namibia during the second quarter of 2021, beating target levels for the third consecutive quarter.

This strong operational performance was underpinned by a 9.9% increase in processing plant throughput and a 10.2% improvement in tin recovery.

(, ) (AIM:ATM, ) CEO of AfriTin Mining talks to Proactive London about reporting revenues of GBP5.1mln in the six months to August 2021.

These results mark an increase of 468% over the corresponding six-month period a year earlier.

Gross profit margin was 22, positive free cash flow generated was GBP560,000, and cash and cash equivalent amounted to GBP6.3mln at period as the company’s tin producing operation at Uis in Namibia really began to show its worth.