Afritin Mining Share Discussion Threads

[outlawinvestor] 19/1/2021 10:00

AV (or one of his underlings) finally found some time to fulfil his AIM regulatory duties and updated the shareholder information on the company website. hxxp://afritinmining.com/capital-structure/ Interesting to note that AV's holding has moved from 0.67% to 1.4%. Fellow directors Glenn Parsons and Laurence Robb also saw their holdings increase. The increased director holdings are due to share issues in lieu of fees. A nervous observation for me is the appearance of Shore Capital Stockbrokers as a 9.3% holder. I can only anticipate a series of TR-1s as they reduce their position... Would be nice to be wrong. Capital International IOM increased their holding from 3.26% to 5.5%. Surprising they did not see fit to issue a TR-1. Hargreaves Lansdown Asset Mgt shed off 6,196,069 shares... Their position stayed within the percentage threshold so there was no need for a TR-1. Jarvis Investment Mgt is a new name with a declared 3.8% holding. Again another one where no TR-1 was issued. Premier Miton Group PLC, Mr Stephen Pycroft, and Halifax Share Dealing were relegated from the list as their positions were diluted below the 3% threshold. I would find it odd if indeed none of these investors saw fit to issue a TR-1. I'm more inclined to think AV and his Investor Relations team (if one even exists) just couldn't be bothered to perform their regulatory duties.

[outlawinvestor] 16/1/2021 14:32

Interesting read about new lithium extraction technologies... Protecting fragile ecosystems from lithium mining https://www.bbc.co.uk/news/business-54900418

[ukgeorge] 08/1/2021 10:56

Roll on a good rerate here :)

[shieldbug] 08/1/2021 09:08

Happily the recent price rise has allowed me to sell off some excess shares here leaving me slightly in profit. Without the recent RNS I would have probably held more for longer.

[ukgeorge] 06/1/2021 12:19

Sadly the mining industry is like this and it is very frustrating but it could be worse. The share price appears to be breaking higher today and breaking the long-term down trend. Fingers crossed we get a nice rise.

[koolio] 05/1/2021 09:18

It doesn’t seem appropriate or fair that options can get a new target price on them that is so low. The share price from mid 2018 to early 2020 was above 3p so effectively the management are being rewarded for having sub inflation performance. Looking at other bonuses that have been awarded recently and you can see the environment where the company are doing business is corrupt. Seems a real shame and a bit of a kick in the teeth, but that’s what we can expect from AIM and Africa.

[outlawinvestor] 05/1/2021 07:42

https://www.londonstockexchange.com/news-article/ATM/directors-remuneration-repricing-of-share-options/14813435 I am keen to read some thoughts from fellow investors on yesterday's RNS. Ordinarily I am supportive of incentivising management and directors via share options. I am not yet convinced that the repricing is the right thing to do and wonder what it tells us about the pricing of any near term equity funding.

[outlawinvestor] 05/1/2021 07:37

ShFE up roughly 3% in last session - March contracts over CNY 159,000! Lithium also trading high - Global X Lithium ETF (LIT) was up over 7% yesterday. Clearly a very supportive commodity environment at the moment.

[outlawinvestor] 04/1/2021 11:04

I think $21,000 tin price is looming - ETFS Tin is currently trading above $37 and ShFE March contracts closed above CNY 154,000.

[outlawinvestor] 28/12/2020 10:19

Pleasing to note lithium prices are finally on the rebound... IMO very advantageous if ATM can execute its lithium plans in a strong pricing environment. hxxps://tradingeconomics.com/commodity/lithium hxxps://www.metalbulletin.com/Article/3967364/GLOBAL-LITHIUM-WRAP-Bullish-suppliers-push-Chinas-carbonate-price-up-34.html

[ukgeorge] 24/12/2020 13:35

These look ready to breakout, Merry Christmas all roll on it being a great 2021 for ATM :)

[shieldbug] 18/12/2020 16:18

Er - yes. Not sure what I did there. Over optimistic.

[outlawinvestor] 18/12/2020 15:06

@shieldbug - I believe you meant $3.04m/yr... Although I would be happier if your calculator is superior to mine and it really comes out as $30.4m!

[shieldbug] 18/12/2020 14:18

There are plenty of variables - cash cost being one. That cash cost may have included Tantalum which was included in the Stage 1 Phase 1 figures. Cash cost for tin only may be higher. Hopefully they are at least cash neutral.

[ukgeorge] 18/12/2020 13:30

Thanks, I would also guess they get quite a discount to the spot price (but really don't know).

[shieldbug] 18/12/2020 11:56

12 months of 41.6t contained copper would be 499 tonnes (from latest production figures) Estimated cash cost for stage 1 - $13,900/t (from June's Uis Tin Mine Phase 1 Review) Today's tin price - $20,000/t cash per tonne $6,100/t 499 x 6100 = $30.4m/yr I would hope they are cash positive but I have no idea how much they are spending on developing Tantalum production and then Phase 1, Stage 2 and beyond.

[ukgeorge] 18/12/2020 09:15

Do you think they are cash flow positive yet?

[shieldbug] 18/12/2020 09:07

The IPO placing price was 3.9p/share. Hard to see why they would sell the company at 4p. The tin price today is higher than it was at IPO - and rising. A sale a 4p would make no sense unless they are about to run out of cash and they could not raise further capital.

[shieldbug] 18/12/2020 08:22

Just listened to Jeff Currie talking on Bloomberg - making the case that we are at the start of a new commodities super-cycle.

[outlawinvestor] 18/12/2020 02:18

...and it's welcome to the 20th floor as LME tin cash closed @ $20,058 (3m contract @ $20,000) - highest levels sine Apr 2019.

[outlawinvestor] 17/12/2020 12:47

Interesting video on ATM twitter feed by ITA on current research on tin in green technologies: hxxps://youtu.be/rrKl5KPdTUg LME Tin cash closed last night at $19812, the 3 month contract closed @ $19782 with a high of $19975.

[ukgeorge] 16/12/2020 16:08

no haven't heard anything in Oxfordshire today

[a2584728] 16/12/2020 14:18

I hear rumours of suitors at 4p. Anyone else's heard anything?