AfriTin Mining Ltd (LON:ATM)

AfriTin Mining Ltd (LON:ATM)


Share Price
3.22 p
Change
0.11 (3.54 %)
Market Cap
£17.54 m
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AfriTin Mining Ltd RNS Release

Operational Update


RNS Number : 1126F
AfriTin Mining Ltd
25 October 2018
 

AfriTin Mining Limited

("AfriTin" or the "Company")

Operational Update

Commencement of Processing Plant Steel Construction & Equipment Installation

AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Namibia, is pleased to provide an update on its operations at the Uis mine.

Highlights

·     Completion of the civil earthworks and platforms;

·     Commencement of the steel framework construction and equipment installation of the Phase 1 processing plant; and

·     Preparation of the first run-of-mine feed to the plant.

 

Following the start of the civil construction works in June 2018, the main earthworks and civil platforms have been completed, enabling the company to progress the steel construction and installation of the processing equipment. The Directors expect that the Phase 1 pilot processing plant will process approximately 500,000 tonnes per annum producing around 60 tonnes of tin concentrate per month. The plant will consist of a 4-stage crushing plant and concentrator, employing dense media separation and gravity concentration circuits.

The mining operation has been designed to provide run-of-mine feed to the plant based on the historical reserve statement prepared by SRK Consulting for ISCOR in 1989. The Company expects to employ contract mining services for drilling, blasting, loading and hauling of mining material.

The Directors expect that the Phase 1 plant, in conjunction with further testing, will provide the Company a seamless transition to a bankable feasibility study for Phase 2. This will comprise a planned operation of a 3 million tonne per annum processing facility, producing approximately 5,500 tonnes per annum of tin concentrate.

An operational video, presenting updates on the progression at Uis, can be found at https://youtu.be/ngR6-IiemnU

 

Commenting on the developments CEO Anthony Viljoen stated,

"We are pleased to present further progress at Uis and are now a step closer to producing first tin. The Company remains well positioned to take advantage of the exciting opportunities emerging in the tin market.

We look forward to announcing further updates on our development milestones as we advance the Uis Tin Project towards production and ultimately a large-scale tin producer."

 

For further information, please visit www.afritinmining.com or contact:

 

AfriTin Limited

 

Anthony Viljoen, CEO

+27 (11) 268 6555

Nominated Adviser and Joint Broker

 

WH Ireland Limited

Katy Mitchell

James Sinclair-Ford

+44 (0) 207 220 1666 

Joint Broker

 

NOVUM Securities Limited

Jon Belliss

+44 (0)20 7399 9400

Financial PR (United Kingdom)

 

Tavistock

+44 (0) 207 920 3150

Jos Simson

Barney Hayward

 

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining is the first pure tin company listed in London and its vision is to create a portfolio of world-class, conflict-free, tin producing assets. The Company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in 2018 ramping up to 5,500 tonnes of concentrate, and consolidation of other quality African tin assets. 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.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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