Andrada Mining Limited NPV (ATM)

Sector:

Mining

Index:

FTSE AIM All-Share

4.20p
   
  • Change Today:
    -0.100p
  • 52 Week High: 8.60
  • 52 Week Low: 3.95
  • Currency: UK Pounds
  • Shares Issued: 1,580.25m
  • Volume: 1,958,624
  • Market Cap: £66.37m
  • RiskGrade: 393

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.

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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 4.20p
Change Today -0.100p
% Change -2.33 %
52 Week High 8.60
52 Week Low 3.95
Volume 1,958,624
Shares Issued 1,580.25m
Market Cap £66.37m
RiskGrade 393

ATM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.35% below the market average34.35% below the market average34.35% below the market average34.35% below the market average34.35% below the market average
88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average88.24% below the sector average
Price Trend
34.63% below the market average34.63% below the market average34.63% below the market average34.63% below the market average34.63% 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
13.33% above the market average13.33% above the market average13.33% above the market average13.33% above the market average13.33% 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 28-Mar-2024

Time Volume / Share Price
16:35 38,265 @ 4.20p
16:35 8,265 @ 4.20p
16:35 30,000 @ 4.20p
15:30 1,000,000 @ 4.30p
16:26 50,000 @ 4.20p

ATM Key Personnel

CEO Anthony Viljoen
CFO Hiten Mohanlal Ooka

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