IN BRIEF: AfriTin Mining beats tin production target in first quarter

AfriTin Mining Ltd - tin miner with asset in Namibia - For the first quarter ending May 31, tin ...

Alliance News 14 June, 2021 | 7:27PM
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AfriTin Mining Ltd - tin miner with asset in Namibia - For the first quarter ending May 31, tin concentrate production from the Uis tin mine in Namibia totalled 183 tonnes, containing 114 tonnes of tin metal, beating the production target of 180 tonnes.

However, this is down from 195 tonnes of tin concentrate the quarter before. This was due to lower plant availability as a result of power supply problems, as well as lower feed grade due to natural grade variations in the mining area.

Company is continuing to progress implementation of the Uis phase one expansion project, to result in a 67% increase in tin concentrate production.

"We are delighted to release our first quarterly update for the year demonstrating that the company is achieving its internal monthly production targets at our flagship Uis Tin Mine. These positive production results have coincided with 10-year high tin prices," says Chief Executive Officer Anthony Viljoen.

"We are excited to commence the phase 1 expansion. In addition, during this phase, we are hoping to unlock the exciting and significant lithium and tantalum by-product potential we have across our extensive resource base," Viljoen adds.

Current stock price: 5.64 pence

Year-to-date change: up sharply from 2.45p

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
AfriTin Mining Ltd Ordinary Shares 5.40 GBX 2.86 -

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