http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Wed, 25 Apr 2018 01:58:33 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Appointment of New Joint Broker ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180412070006_13601341/ Thu, 12 Apr 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180412070006_13601341/ <![CDATA[Media files - AfriTin Mining announces MoU with MRI Trading AG for buying tin concentrate ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9013/afritin-mining-announces-mou-with-mri-trading-ag-for-buying-tin-concentrate-9013.html Mon, 09 Apr 2018 12:48:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9013/afritin-mining-announces-mou-with-mri-trading-ag-for-buying-tin-concentrate-9013.html <![CDATA[News - AfriTin Mining signs MOU with MRI Trading AG for buying tin concentrate in Namibia ]]> http://www.proactiveinvestors.co.uk/companies/news/194510/afritin-mining-signs-mou-with-mri-trading-ag-for-buying-tin-concentrate-in-namibia-194510.html AfriTin Mining Ltd (LON:ATM) has announced the signing of a non-binding Memorandum of Understanding (MOU) with mineral and petroleum trading firm MRI Trading AG (MRI) for an artisanal buying operation for tin concentrate in Namibia.

The AIM-listed firm said together with MRI it intends to explore the possibility of sourcing cassiterite concentrate from local artisan miners and establishing a Buying Station, which would analyse the quality of tin concentrate.

WATCH: AfriTin Mining announces MoU with MRI Trading AG for buying tin concentrate

Under the terms of MOU, MRI would provide funding of up to US$200,000 for the set-up and operations of the Buying Station for an initial 12-month period.

AfrtiTin would repay the investment from its share of profits, while MRI would have exclusive rights to all material purchased from the artisanal miners. Also, AfriTin would receive 50% of the net profits received by MRI.

The mining company said these terms were still under discussion, therefore there could be no guarantee that the agreement would be progressed.

Anthony Viljoen, CEO of AfriTin, said: “First and foremost, we believe that by buying from local artisanal miners, we will increase the economic activity in the region and as a result contribute to the upliftment of poverty-stricken Damaraland.”

He added:”Secondly, the sale of tin concentrate from the area into the world market will signify the first steps in the return of Namibia as a global player in the world tin market.”

In early morning trading, AfriTin’s shares were up 1.75% to 2.90p.

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Mon, 09 Apr 2018 10:05:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194510/afritin-mining-signs-mou-with-mri-trading-ag-for-buying-tin-concentrate-in-namibia-194510.html
<![CDATA[RNS press release - AfriTin signs non-binding MOU with MRI ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180409083605_13596500/ Mon, 09 Apr 2018 08:36:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180409083605_13596500/ <![CDATA[News - AfriTin Mining completes detailed design for Uis tin mine in Namibia ]]> http://www.proactiveinvestors.co.uk/companies/news/194215/afritin-mining-completes-detailed-design-for-uis-tin-mine-in-namibia-194215.html AfriTin Mining Ltd (LON:ATM) has completed a detailed design for its flagship asset Uis Tin Mine in Namibia, targeting the V1 and V2 pegmatite bodies, previously identified as the priority to supply feed to its new intermediary processing plant.

The AIM-listed firm said the mine design includes an initial five-year mine production schedule to commence operations on the outcropping pegmatite bodies and existing excavations of the V1 and V2 pits.

READ: AfriTin says mapping of Uis mine in Namibia shows mineralisation throughout unmined surface extensions

The mining company said the run-of-mine feed to the processing plant for this phase of development is planned at 500,000 tonnes per year with an anticipated annual production of 800 tonnes of saleable tin concentrate.

The mining company said that a plant location has been identified in close proximity to the V1/V2 pegmatite bodies, the site layout and project infrastructure is being finalised and earthworks and civil works construction are scheduled to commence during May 2018 with production on track for the second half of 2018.

Anthony Viljoen, AfriTin’s CEO, said: “Whilst we believe Uis has the resources to be a long-life operation, this phased approach should provide a platform for sustainable early cash flows.”

He added: “It should also de-risk the implementation of a larger scale mining and processing facility which in turn should allow us to progress long term financing options.”

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Wed, 04 Apr 2018 07:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194215/afritin-mining-completes-detailed-design-for-uis-tin-mine-in-namibia-194215.html
<![CDATA[RNS press release - Completion of Mine Design at Uis Tin Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180404070003_13590502/ Wed, 04 Apr 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180404070003_13590502/ <![CDATA[News - AfriTin says mapping of Uis mine in Namibia shows mineralisation throughout unmined surface extensions ]]> http://www.proactiveinvestors.co.uk/companies/news/193130/afritin-says-mapping-of-uis-mine-in-namibia-shows-mineralisation-throughout-unmined-surface-extensions-193130.html AfriTin Mining Ltd (LON:ATM) said completion of detailed geological mapping has confirmed the presence of mineralisation throughout the unmined surface extensions over the V1 and V2 pegmatite bodies at the Uis tin mine in Namibia.

The AIM-listed firm said the information acquired during the mapping expedition will be used to create a 3-D geological model to be utilised to generate a block model from which a provisional mine production plan will be produced.

READ: AfriTin planning for annual revenues of US$60mln from Namibian mine

The mining company said the estimate Run of Mine feed to the plant is planned at 500 000 tonnes per year.

At this rate the V1 and V2 pit could be the sole supplier of mineralisation to the plant for the first 29 years of production, however, AfriTin stated its intention is to increase this production rate over the life of the mine.

Anthony Viljoen, AfriTin's CEO said: “We are very pleased with the results of the geological work recently completed at Uis, as this supports the detailed work that was contained in the historical SRK report that produced a 70 year life of mine plan.”

He concluded: “We believe the results provide a solid foundation on which AfriTin can base its mining programme, to resume early production at what was once the biggest hard rock tin mine in the world.”

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Wed, 14 Mar 2018 07:44:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/193130/afritin-says-mapping-of-uis-mine-in-namibia-shows-mineralisation-throughout-unmined-surface-extensions-193130.html
<![CDATA[RNS press release - Operational Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180314070005_13565868/ Wed, 14 Mar 2018 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180314070005_13565868/ <![CDATA[RNS press release - Statement re Broker ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180302132948_13553165/ Fri, 02 Mar 2018 13:29:48 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180302132948_13553165/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180129115821_13513012/ Mon, 29 Jan 2018 11:58:21 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180129115821_13513012/ <![CDATA[RNS press release - Director Dealing ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180122070004_13503745/ Mon, 22 Jan 2018 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180122070004_13503745/ <![CDATA[RNS press release - Directors Trading ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180118070019_13500485/ Thu, 18 Jan 2018 07:00:19 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180118070019_13500485/ <![CDATA[RNS press release - Operational Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180117070002_13498732/ Wed, 17 Jan 2018 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180117070002_13498732/ <![CDATA[RNS press release - Exercise of Warrants ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180111143002_13493536/ Thu, 11 Jan 2018 14:30:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20180111143002_13493536/ <![CDATA[RNS press release - Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171130070004_13448514/ Thu, 30 Nov 2017 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171130070004_13448514/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171121100445_13438818/ Tue, 21 Nov 2017 10:04:45 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171121100445_13438818/ <![CDATA[News - AfriTin planning for annual revenues of US$60mln from Namibian mine ]]> http://www.proactiveinvestors.co.uk/companies/news/187301/afritin-planning-for-annual-revenues-of-us60mln-from-namibian-mine-187301.html One of the key intellectual drivers behind the ongoing development of Bushveld Minerals (LON:BMN) and its new spin-out company AfriTin Mining (LON:ATM) is the idea that the Supercycle is not over.

Mining sector investors in particular will know that the idea of the Supercycle was what drove the last mining boom, and what made valuations soar to such unusually stellar heights. Even at the time, its proponents argued that its effects would be long-lasting.

WATCH: AfriTin PLC has its eyes on becoming the African tin champion

“The industrialisation of China and India is now moving into a new realm,” says Anthony Viljoen, chief executive of AfriTin, “that of the consumer.”

It’s a compelling thought. After all, it’s one thing mobilising the economies of China and India for manufacturing and technology, but it’s quite another when the net result is a potential new consumer base of two billion people and counting.

It will take many a decade to bring all of them up to the consumption levels of the middle classe, but at some point significant portions of those billions are going to be wanting metals for housing and cars, and in particular for consumer electronics.

Bushveld has been doing a nice line in specialty metals for a few years now, to the point where its market capitalisation has now pushed past £75mln. All told, it has had a lot going on, particularly in the vanadium space, and so the time had come for some of the more independent of its operations to stand on their own two feet.

READ: Bushveld Minerals and Bushveld shareholders to own roughly 41.9% of AfriTin Mining when it lists

Accordingly AfriTin listed on the AIM market of the London stock exchange on 9th November following a placing and subscription that raised £3.5mln in new money, with a further £1mln raised from loan notes that convert on admission.

The key asset is the Uis tin project in north-west Namibia, a formerly producing mine that was shut-down more than 20 years ago when tin price hit a nadir and Namibia was still coming to terms with its new-found independence.

Historical resource estimate

According to a historic resource estimate prepared by SRK, Uis contains over 70 mln tonnes of ore containing 95,000 tonnes of tin.

The mine plan worked out by SRK says that that’s enough to allow for production through to 2063, although initially AfriTin will work to much more modest goals.

“We need to bring those old numbers into modern JORC-reporting compliance,” says Viljoen.

“We will start up with a steady state 65 tonnes per month,” he says. “But we want to scale up to 5,000 tonnes per year on three million tonnes run of mine. That would be a little over one per cent of world production. All of our areas are fully licensed so we can start mining straight away.”

It ought not to cost too much to get going, as the ore is coarse-grained, there’ll be no milling required, and it’s all open cast.

Project with low capital intensity

“You’ll struggle to find a project with lower capital intensity,” says Viljoen.

Given that most of the world’s major tin mines are now operating underground, production from Uis should show up towards the bottom end of the global cost curve. There will also be useful credits on offer from the tantalite, beryllium and niobium that’s also contained in the ore.

As the ramp up develops, Viljoen reckons AfriTin’s revenues will rise to a handsome US$60mln per year, supported by that ever-present increasing demand for consumer electronics.

“Tin is used in all of your electronics,” says Viljoen, “especially so since they banned lead in circuit boards.”

Accordingly, he’d like AfriTin to come to be seen as the new African tin champion.

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Wed, 15 Nov 2017 11:14:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187301/afritin-planning-for-annual-revenues-of-us60mln-from-namibian-mine-187301.html
<![CDATA[RNS press release - Appointment of Joint Broker ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171114084958_13430664/ Tue, 14 Nov 2017 08:49:58 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171114084958_13430664/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171110110159_13427688/ Fri, 10 Nov 2017 11:01:59 +0000 http://www.proactiveinvestors.co.uk/companies/rns/15979/LSE20171110110159_13427688/ <![CDATA[Media files - AfriTin PLC has its eyes on becoming the African tin champion ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8343/afritin-plc-has-its-eyes-on-becoming-the-african-tin-champion-8343.html Thu, 09 Nov 2017 08:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8343/afritin-plc-has-its-eyes-on-becoming-the-african-tin-champion-8343.html