Andrada Mining Limited NPV (ATM)

Sector:

Mining

Index:

FTSE AIM All-Share

 5.05p
   
  • Change Today:
      0.000p
  • 52 Week High: 8.60
  • 52 Week Low: 3.95
  • Currency: UK Pounds
  • Shares Issued: 1,580.25m
  • Volume: 3,843,597
  • Market Cap: £79.80m
  • RiskGrade: 393

AfriTin completes bottleneck work at Uis mine processing plant

By Josh White

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Namibia-focussed tin mining company AfriTin Mining updated the market on its flagship Uis mine on Wednesday, reporting that modifications to address bottlenecks in the fines dewatering circuit of the processing plant were now complete.
The AIM-traded firm said that, as a result of higher-than-expected fines material in the run-of-mine feed, improvements were required to rebalance material flows and expand capacity related to the dewatering of grits and slimes.

It said it expected that the improvements would translate into increased concentrator plant throughput from September onwards.

Due to the implementation of those improvements, an extended maintenance shutdown of four days was required during August.

Despite that, monthly production of tin concentrate from the first phase mining and processing facility increased to 37.5 tonnes of tin concentrate for the month, extending production gains made during June and July.

The company said that for the first stage of phase 1, it was targeting the processing of 45,000 tonnes of ore per month at a rate of 80 tonnes per hour, for the production of 60 tonnes of tin concentrate per month.

With the main bottlenecks addressed, the firm said it would focus on improving the availability and utilisation of the plant to support the rest of the production ramp-up.

That would include additional instrumentation and controls, the optimisation of piping and valving configurations, refining the density control in the dense medium separation circuits, and installing an on-site laboratory.

Regular shipment of tin concentrate was continuing from Walvis Bay, despite ongoing Covid-19 restrictions in Namibia and South Africa.

Tin concentrate production for the year-to-date totalled 150 tonnes, the board said.

"We are pleased to have completed the bottleneck modifications to the dewatering circuit on our plant and to have extended the production increases of the past three months," said chief executive officer Anthony Viljoen.

"We will now look to leverage these circuit improvements to reach our stage one production target of 60 tonnes of concentrate per month in the fourth quarter."

At 1141 BST, shares in AfriTin Mining were down 0.23% at 2.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ATM Market Data

Currency UK Pounds
Share Price 5.05p
Change Today 0.000p
% Change 0.00 %
52 Week High 8.60
52 Week Low 3.95
Volume 3,843,597
Shares Issued 1,580.25m
Market Cap £79.80m
RiskGrade 393

ATM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.38% below the market average37.38% below the market average37.38% below the market average37.38% below the market average37.38% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average
Price Trend
42.63% below the market average42.63% below the market average42.63% below the market average42.63% below the market average42.63% below the market average
36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average36.84% above the sector average
Income Not Available
Growth
12.97% above the market average12.97% above the market average12.97% above the market average12.97% above the market average12.97% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ATM Dividends

No dividends found

Trades for 25-Apr-2024

Time Volume / Share Price
16:20 100,000 @ 5.03p
16:16 20,000 @ 5.01p
15:45 100,000 @ 5.13p
15:27 6,189 @ 5.17p
14:40 1,922 @ 5.15p

ATM Key Personnel

CEO Anthony Viljoen
CFO Hiten Mohanlal Ooka

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