AfriTin Mining Ltd Quarterly Production Update (4715L)
13 September 2021 - 4:00PM
UK Regulatory
TIDMATM
RNS Number : 4715L
AfriTin Mining Ltd
13 September 2021
13 September 2021
AfriTin Mining Limited
("AfriTin" or the "Company")
Quarterly Production Update
AfriTin Mining Limited (AIM: ATM), an African tin mining company
with its flagship asset, the Uis Tin Mine ("Uis") in Namibia, is
pleased to provide a quarterly production update for Q2 of the 2022
Financial Year ("FY2022"), for the three-month period ended 31
August 2021.
Highlights:
-- Tin concentrate production for Q2 totalled 185 tonnes,
exceeding the target of 180 tonnes for the third consecutive
quarter;
-- Strong operational performance supported by a 9.9% increase
in processing plant throughput and a 10.2% improvement in tin
recovery; and
-- Implementation of Uis Phase 1 expansion project, which is
projected to increase tin concentrate production by 67%, has
commenced.
Anthony Viljoen (CEO) commented:
"We are pleased to release our Q2 numbers from our flagship Uis
Tin Mine which has exceeded production targets and nameplate for
the third consecutive quarter. During the quarter we commenced the
early implementation work and long lead item ordering for the Uis
expansion programme which will see the processing plant produce 67%
more tin concentrate."
The Company is pleased to report that Uis maintained a
production level above its steady state target during Q2 of FY2022.
During the quarter under review, Uis surpassed the target of 180
tonnes of tin concentrate to produce 185 tonnes (containing 113
tonnes of tin metal). The quarter-on-quarter ("QoQ") performance
for Q1 and Q2 of FY2022 is tabulated below:
Table 1 : Quarterly performance of the Uis Phase 1 pilot plant
during the 2022 financial year.
Description Units 2022 Financial Year
Q1 Actual Q2 Actual Q2 vs Q1
(Mar - May) (Jun - Aug) (% change)
------------- ------------- ------------
Plant Availability % 75 78 4%
------- ------------- ------------- ------------
Plant Utilisation % 83 85 2.4%
------- ------------- ------------- ------------
Plant Processing
Rate tph 84 87 3.6%
------- ------------- ------------- ------------
Ore Processed t 115 751 127 263 9.9%
------- ------------- ------------- ------------
Feed Grade % Sn 0.167 0.137 -18%
------- ------------- ------------- ------------
Tin Concentrate t 183 185 1.1%
------- ------------- ------------- ------------
Tin Contained in
Concentrate t 114 113 -0.9%
------- ------------- ------------- ------------
Tin Recovery % 59 65 10.2%
------- ------------- ------------- ------------
Increased processing plant throughput of 127,263 tonnes of ore
for Q2 was obtained by improvements in plant availability,
utilisation and processing rate, resulting in a QoQ throughput
increase of 9.9%.
The feed grade for Q2 of FY2022 was lower than the preceding
quarter due to natural grade variations in the mining area.
However, the feed grade is still in line with the Company's mine
plan estimates and the average projected life-of-mine feed grade of
0.138% Sn.
The lower QoQ plant feed grade was countered, to a large extent,
by a 10.2% improvement in overall tin recovery. Q2 of FY2022
displayed a 65% recovery, well above the design target of 60%
recovery.
The Company also announced on 14 June 2021 that the Directors
approved a Definitive Feasibility Study for the expansion of the
Uis Phase 1 processing plant through a modular addition to the
current plant, projected to increase tin concentrate production by
67%.. The project has commenced with the placing of orders for long
lead items, the appointment of a project implementation team, and
establishment of infrastructure to facilitate procurement and
fabrication. The Company expects to provide a detailed project
progress update in a few weeks time.
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Turner Pope Investments
Andy Thacker
James Pope +44 (0) 20 3657 0050
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Jos Simson
Nick Elwes
Oliver Lamb
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is the first pure tin company listed in
London and its vision is to create a portfolio of globally
significant, conflict-free, tin-producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current strategy to ramp-up production at
the Uis Tin Mine in Namibia to 10,000 tonnes of concentrate in a
Phase 2 expansion, having reached optimal Phase 1 commercial
production in 2021. The Company strives to capitalise on the solid
supply/demand fundamentals of tin by developing a critical mass of
tin resource inventory, achieving production in the near term and
further scaling production by consolidating tin assets in
Africa.
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END
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