AfriTin Mining Ltd Operational Update (3971Y)

TIDMATM

RNS Number : 3971Y

AfriTin Mining Ltd

09 September 2020

9 September 2020

AfriTin Mining Limited

("AfriTin" or the "Company")

Operational 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 an operational update.

Highlights:

-- Strict COVID-19 mitigation measures remain in place across the Company to safeguard the workforce and, to date, no confirmed cases have been reported at the Uis Tin Mine.

-- Modifications to address the bottlenecks in the fines dewatering circuit of the processing plant have been completed; and,

-- Despite shutdowns due to implementation of the plant improvements, production of tin concentrate for August 2020 increased to 37.5 tonnes.

The health, safety and well-being of our employees, contractors and the local community are of utmost importance to the Company. As previously announced, strict COVID-19 mitigation measures have been implemented across the Company and all necessary steps have been taken to safeguard workforce . The Company is pleased to report that there are still no confirmed cases of COVID-19 at the Uis Tin Mine.

Modifications to address bottlenecks in the fines dewatering circuit of the Uis processing plant are now complete. As a result of higher than anticipated fines material in the run-of-mine feed, improvements were required to rebalance material flows and expand capacity related to the dewatering of grits (45 to 500 micron particles) and slimes (smaller than 45 micron particles). It is anticipated that these improvements will translate into increased concentrator plant throughput from September 2020 onwards.

Due to the implementation of these improvements, an extended maintenance shutdown of 4 days was required during August 2020. Despite this, monthly production of tin concentrate from the Phase 1 mining and processing facility increased to 37.5 tonnes of tin concentrate for the month, extending production gains made during June and July 2020. The monthly production performance for 2020 is tabulated below. For Stage I of Phase 1, the Company is targeting the processing of 45,000 tonnes of ore per month, at a rate of 80 tonnes per hour, for the production of 60 tonnes of tin concentrate per month.

With the main bottlenecks addressed, the Company will focus on improving the availability and utilisation of the plant to support the remainder of the production ramp-up. This includes additional instrumentation and controls, optimisation of piping and valving configurations, refining the density control in the dense medium separation circuits, and installing an on-site laboratory.

Regular shipment of tin concentrate continues from Walvis Bay, despite ongoing COVID-19 restrictions in Namibia and South Africa. Tin concentrate production for the year to date totals 150 tonnes.

Table 1 : Monthly performance from the Uis Phase 1 pilot plant during 2020.

 
                                                                    2020 
                                     Jan      Feb      Mar      Apr     May      Jun      Jul      Aug 
 Description           Units                                     * 
                                   -------  -------  -------  ------  -------  -------  -------  ------- 
 Plant Availability    %             59%      60%      64%      59%     65%      69%      73%      72% 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 Plant Utilisation     %             58%      66%      68%      54%     70%      76%      88%      81% 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 Plant Processing      tonnes 
  Rate                  per hour      45       51       52      41       48       49       65       70 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 Ore Processed         tonnes       11,420   14,043   16,866   9,618   16,217   18,551   31,324   30,872 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 Tin Concentrate       tonnes        11.4     11.0     12.3    11.1     11.2     19.7     35.3     37.5 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 Tin Contained 
  in Concentrate       tonnes        7.4      7.1      8.4      7.7     7.2      12.6     22.7     25.6 
                      -----------  -------  -------  -------  ------  -------  -------  -------  ------- 
 

* Operations curtailed due to COVID-19 government lockdown regulations

Change of Broker

The Company advises that Novum Securities has ceased to act as broker to the Company with immediate effect.

Anthony Viljoen, CEO of AfriTin Mining Limited commented:

"We are pleased to have completed the bottleneck modifications to the dewatering circuit on our plant and to have extended the production increases of the past three months. We will now look to leverage these circuit improvements to reach our Stage I production target of 60 tonnes of concentrate per month in Q4 of 2020."

For further information, please visit www.afritinmining.com or contact:

 
 AfriTin Mining Limited 
 Anthony Viljoen, CEO                  [phone] 
 Nominated Adviser 
 WH Ireland Limited 
  Katy Mitchell 
  James Sinclair-Ford                  [phone] 
 Corporate Advisor and Joint Broker 
 Hannam & Partners 
  Andrew Chubb 
  Jay Ashfield 
  Nilesh Patel                         [phone] 
 Joint Broker 
 Turner Pope Investments 
  Andy Thacker                         [phone] 
 Financial PR (United Kingdom) 
 Tavistock                             [phone] 
 Jos Simson 
  Barney Hayward 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

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 opencast tin mine.

AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast-track Uis Tin Mine in Namibia to commercial production as Phase 1, ramping up to 5,000 tonnes of concentrate in a Phase 2 expansion. 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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September 09, 2020 02:00 ET (06:00 GMT)