Afritin Mining Limited NPV (ATM)

Sector:

Mining

Index:

FTSE AIM All-Share

5.10p
   
  • Change Today:
      0.100p
  • 52 Week High: 7.10p
  • 52 Week Low: 2.35p
  • Currency: UK Pounds
  • Shares Issued: 1,112.33m
  • Volume: 943,207
  • Market Cap: £56.73m
  • RiskGrade: 393
  • Beta: 0.60

AfriTin agrees lending facility with Standard Bank Namibia

By Josh White

Date: Tuesday 21 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Namibia-focussed tin mining company AfriTin has entered into a conditional, credit-approved lending facility with Standard Bank Namibia to fund the expansion of the first phase processing plant at the Uis mine, it announced on Tuesday.
The AIM-traded firm said headline terms for a NAD 90m (£4.5m) senior secured term loan had been agreed with Standard Bank Namibia, with the agreement marking the beginning of a "long-term partnership" for future Uis expansions.

It said the intention was that the loan would fund the expansion of the current first phase pilot processing plant.

The expansion was planned to increase tin concentrate production by 67% to 1,200 tonnes of tin concentrate from 720 tonnes of tin concentrate per annum.

AfriTin said the first phase expansion commissioning was expected to be completed during the second quarter of 2022.

"Following the completion of the definitive feasibility study in May, we are pleased to announce these headline terms for a term loan facility with Standard Bank in Namibia," said chief executive officer Anthony Viljoen.

"This marks the start of a long-term banking partnership to continue the development of the Uis tin mine and provides a financing partner not only for the phase one processing plant but the longer-term phase two development plans."

Viljoen said the term sheet was a "strong endorsement" for the company and its expansion of tin production, and its focus to bring the "significant" lithium and tantalum revenue streams into production.

"This financing, together with the £13m recent equity raise, should provide the company with a strong balance sheet to increase tin production and unlock the wider lithium and tantalum new technology metal-related opportunities."

At 1532 BST, shares in AfriTin Mining were flat at 5p.

Email this article to a friend

or share it with one of these popular networks:


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 5.10p
Change Today 0.100p
% Change 2.00 %
52 Week High 7.10p
52 Week Low 2.35p
Volume 943,207
Shares Issued 1,112.33m
Market Cap £56.73m
Beta 0.60
RiskGrade 393

ATM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.85% below the market average78.85% below the market average78.85% below the market average78.85% below the market average78.85% below the market average
86.67% below the sector average86.67% below the sector average86.67% below the sector average86.67% below the sector average86.67% below the sector average
Price Trend
50.78% above the market average50.78% above the market average50.78% above the market average50.78% above the market average50.78% above the market average
26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average26.32% above the sector average
Income Not Available
Growth
69.19% above the market average69.19% above the market average69.19% above the market average69.19% above the market average69.19% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average

ATM Dividends

No dividends found

Trades for 07-Dec-2021

Time Volume / Share Price
16:18 250,000 @ 5.00p
15:43 30,000 @ 5.03p
15:41 1,216 @ 5.00p
15:25 20,000 @ 5.08p
15:10 10,422 @ 5.03p

ATM Key Personnel

CEO Anthony Viljoen

Top of Page