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Bushveld’s AfriTin spin-off moves closer to listing on AIM

It's official: Bushveld's tin spin-out is underway

The IPO will involve a £2 mln fundraising

AfrTin, the tin specialist being spun off by Bushveld Minerals Limited (LON:BMN), will list on AIM shortly, following shareholder approval of the demerger granted on 20 October 2017.

The assets currently held in the Greenhills subsidiary will debut on AIM shortly, following a  proposed £2 mln fundraising via a placing.

READ: Bushveld Minerals pushes ahead with tin float

The plan is to create a company capable of building a critical mass of tin resources with a near term production outlook.

AfriTin's key assets will include an 85% interest in the Uis tin project in Namibia, a brownfield near term production opportunity, which was once the largest open cast tin mine of its kind in the world.

The company will also hold portfolio of tin assets in South Africa which include the Mokopane tin project and the Zaaiplaats tin tailings project.

READ: Bushveld raises up to £8 mln in new money through convertible bonds

AfriTin aims to take advantage of an ongoing global deficit for tin and to become the first Aim-traded tin mining company and an African tin champion.

Quick facts: Bushveld Minerals Ltd

Price: 19.25 GBX

Market: LSE
Market Cap: £221.95 m

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on 22/10/19

2 min read