AfriTin Mining


Primary ticker: LON:ATM
Stage of development: Exploration, Development, Production
Primary minerals: Tin, Lithium, Tantalum
Project to promote: Uis Mine
Project location: Namibia

AfriTin Mining Limited is a tin mining company with an ambition to become the tech-metal champion of Africa. The Company’s flagship asset, the Uis Tin Mine in Namibia, is a globally significant, conflict-free, tin-producing mine with additional tech-metal development opportunities. Formerly the world’s largest hard-rock open cast tin mine, Uis surpassed Phase 1 nameplate production of 720tpa tin in November 2020. Alongside the Phase 1 pilot processing plant expansion to 1300tpa tin concentrate, Uis holds significant by-product potential as tantalum and lithium are rich in the resource, offering considerable upside potential to produce battery metals. The Erongo region, where the Company holds additional mining and exploration assets, is one of Africa’s best mining jurisdictions providing the Company with further opportunities outside its current operations. AfriTin has a highly experienced board of directors and management team well-placed to guide the Company’s current strategy to become Africa’s technology metals champion.

Major shareholders:
Canaccord Genuity Wealth Mgt – 10.96%
Naminco Limited – 6.06%
Fidelity Worldwide Investment (FIL) – 7.38%
Abrdn plc – 5.54%
The Orange Trust – 15.69%
Management Ownership – 1%

Management Profile

Anthony Richard Viljoen – Chief Executive Officer
Anthony Viljoen is a mining entrepreneur and founding shareholder of VM Investment company, a principal investments company within the African mining sector. Anthony has over two decades experience operating in Africa, having been involved in the development of numerous exploration and mining projects over a wide range of commodities and geographies. He was instrumental in the development and listing of Lemur Resources, a coal project in Madagascar, on the Australian Stock Exchange and raising AU$25 million on IPO. Anthony is also a non-executive director of Bushveld and has subsequently completed several acquisitions in the tin and vanadium markets in Africa. He has a deep knowledge of African mining and is familiar with the London markets, a unique asset considering the Company’s ambition to become Africa’s tech-metals champion. Anthony holds a post-graduate degree in finance and began his career in investment banking in London.
Frans van Daalen – Chief Strategy Officer
Mr van Daalen graduated from the University of Pretoria in 1999 where he studied Mining (M.Eng) and went on to complete his blasting certificate in 2000. He is a member of the South African Institute of Mining and Metallurgy, beginning his career at Anglo American in 1996 before progressing his career at Iscor, Kumba Resources, Ukwazi Mining Solutions through the years to 2008. Since this point Mr van Daalen has worked for VBKom (Pty) Ltd and now also brings his engineering skills to the team at AfriTin, where his experience serving multiple commodities will help to guide AfriTin’s ambition to tap into Africa’s technology metals potential.

Hiten Ooka – Chief Financial Officer
Mr Ooka, a qualified Chartered Accountant (South Africa) with 12+ years of technical, finance and tax experience in the mining industry. Previous senior management positions held at Bushveld Minerals, Eurasian Resource Group (Across Africa), Trafigura and Rand Uranium. He has dealt with a wide range of commodities, namely gold, copper, cobalt, iron ore, vanadium and now Tin and Lithium

What is your rationale for taking part in 121 Mining Investment?

– New developments for the market
– Detail the AfriTin corporate strategy of becoming the tech-metal champion of Africa

What recent news would you like to highlight to investors attending?

September 2021
– Half yearly results: £5.1 million revenue (468% up on corresponding 6 month period ending 31 August 2020); debt free; positive free cashflow
– £4.5 million binding term sheet signed with Standard Bank Namibia
– Implementation of phase 1 expansion project. To be completed Q2 2022
– Preliminary results from lithium beneficiation test work indicate substantial upgrade potential
– Tantalum by-product development progressing to pilot processing design phase
– Initiation of an 8,000 metre lithium and tantalum exploration drilling programme over the next 12 months
May 2021
– £13 million equity raise
– Publication of Definitive Feasibility Study and declaration of a JORC (2012) Ore Reserve estimate over V1 and V2 pegmatites

What are your key goals for the next 3, 6 and 12 months?

3 Months:
– Process flow design for a pilot tantalum concentrate production facility at Uis, with implementation planned for Q4 of 2021

6 Months:
– Lithium beneficiation testwork
– Phase 1 expansion project

12 Months:
– Phase 1 expansion project complete Q2 2022

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

– COVID-19: updated health and safety policies to align with WHO guidelines

What do you think makes your company such a compelling investment?

Producer – profitable pilot plant at nameplate capacity
Explorer – huge scope for resource expansion
Scalable – 10x scale-up at Uis
By-product potential – Li2O and Ta potential to double revenue
Multi mine potential – prospective licences around a central hub

What are the top 3 key investor takeaways?

– Sn, Li2O, Ta globally significant deposit (super charge revenues through by-product extraction)
– 10x potential scale-up to phase 2
– Formation of a tech metals production province