Share Name Share Symbol Market Type Share ISIN Share Description
Afritin Mining Limited LSE:ATM London Ordinary Share GG00BD95V148 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.25 522,713 08:00:20
Bid Price Offer Price High Price Low Price Open Price
2.10 2.40 2.375 2.25 2.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.07 -1.83 -0.29 18
Last Trade Time Trade Type Trade Size Trade Price Currency
15:41:30 O 2,000 2.158 GBX

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Date Time Title Posts
26/11/202015:34AfriTin Mining (stock thread with charts)75
12/11/202012:20Afritin Mining.47
25/6/202016:19Moneybox the Number 1 ATM outfit524

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Afritin Mining (ATM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-12-01 15:41:302.162,00043.16O
2020-12-01 14:07:322.28156,0003,549.00O
2020-12-01 13:53:202.1694820.46O
2020-12-01 12:51:082.336,451149.99O
2020-12-01 12:33:452.28100,0002,275.00O
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Afritin Mining (ATM) Top Chat Posts

Afritin Mining Daily Update: Afritin Mining Limited is listed in the Mining sector of the London Stock Exchange with ticker ATM. The last closing price for Afritin Mining was 2.25p.
Afritin Mining Limited has a 4 week average price of 2.10p and a 12 week average price of 2.10p.
The 1 year high share price is 3.13p while the 1 year low share price is currently 1.25p.
There are currently 813,657,942 shares in issue and the average daily traded volume is 409,822 shares. The market capitalisation of Afritin Mining Limited is £18,307,303.70.
outlawinvestor: Operational Update Anthony Viljoen, CEO of AfriTin Mining Limited commented: "I am delighted to report, once again, further positive increases in the Uis Tin Mine's month-on-month plant performance as we enter the final stage of our Phase 1 Stage I production ramp-up. Pleasingly, the production of tin concentrate has increased to 48.2 tonnes for October 2020, which represents a 24% increase from September 2020. More importantly this means we remain on track to achieve nameplate production of 60 tonnes a month of tin concentrate by the end of the calendar year. As stated previously, once nameplate capacity is realised, the Company will progress towards Stage II, expanding its production levels even further. AfriTin continues to remain well-positioned to take advantage of the improving tin market fundamentals, as it looks to achieve its vision of becoming a large-scale tin producer in Namibia." Good to see plant availability and utilisation above 80% - hopefully they can maintain the momentum.
cyberbub: Interesting thanks. So it could be very profitable once into Stage III, but that is presumably several years away and shareholder returns will depend mostly on dilution, rather than the price of tin (as the tin will be free of charge!). Still sounds quite positive from 2.4p if you are willing to wait 5 years?
outlawinvestor: C1 cash cost for Phase 1 Stage I is $13,900. Stage II and III will generate tantalum and lithium credits resulting in negative C1 cost of -6,300 in Stage III and -5,300 following Stage IV production expansion. They receive the LME tin price for the tin content of the concentrate minus penalties for deleterious elements. E.g. in July their concentrate averaged 65% contained tin and achieved 93% payability. IIRC Thaisarco pays 80% of the sales cost once the concentrate is loaded at Walvis Bay. $3.8m CLNs were issued in Nov 19 with a conversion price of 4p. With an 18 month term they will probably be refinanced with another issue. The CLNs understandably worry people as does concerns about future equity placings. IMO a sound balance sheet needs needs a good portion of equity otherwise creditors will have you over a barrel. After Stage II once the tantalum is flowing retained earnings from mining operations will buffer shareholders equity. At least that's the theory.
cyberbub: Let's be optimistic and say that they manage to increase production to an average of 55 tons per month between Sept and Feb = 330 tons, at an average of $18000 but let's assume the offtaker gets a 10% discount to $16000 = £12500 per ton. 12500 X 330 = £4M revenue. Let's say that cost of sales only doubles to £2M. So a £2M gross profit, minus G&A and interest of say £1.25M = £750k net profit (no tax due to previous losses). So they won't be able to repay the 2019 CLNs or the 2020 CLNs in March 2021. The former can be converted at the company's choice, so they could force the issuer to take 100M at 4p even if the share price is below that I think? The latter is "subject to agreement" but if the share price is above 1.95p (which seems likely) then the issuer will probably convert 100M shares and drip-dump them over some months? However in the medium/long term is an extra 200M shares a disaster? It's less than 25% extra shares in issue. If the company ends up with 1.1bn shares, but is from March 2021 free to move forward with a profitable mine, making potentially £2.5M p.a. post tax profit from Stage 1, then surely that means that an share price around today's levels will be reasonable? Investors are then buying in to their potential to ramp up Stage 2. How much debt would £2.5M of profits support - perhaps £35-40M? Would that deliver Stage 2? Having considered it based on the above I think today's share price of 2.4p is possibly reasonable, but only for long term investors (like Cannacord who recently bought in). In a few years perhaps it could be 10p+ say, maybe even 20p who knows. The only other way to consider it is if the price of tin rocketed in the short term, perhaps that could lead to a significant leveraged boost to profits and the SP?
cyberbub: Looking in here again, I last had a look some months ago.I see that in the latest interims, they were still making a tiny gross margin on their low $1m sales. However at say $15000/t then this will be only 60 tons for the 6 month period. They claim they will be producing more than that every month soon...Is there any insight into the level of operational leverage of their 'cost of sales' figure? Have the company made any projections if the sales go up by 600% in H2, eg. will cost of sales only go up by 100%?Do the company get the full tin market price for the concentrate product they produce? Or is it lower due to lower quality, and/or a discount for the committed offtaker?I notice that they didn't give their total H1 production tonnage, which would have allowed calculation of their average realised price/ton... Is that suspicious?One final query. Apart from the £2M CLNs issued in May (strike price 1.95p if converted) what other CLNs do they have outstanding? I've seen reference to some at a 4p strike price?Thanks for any tips. The prospects look interesting here if they are close to an inflection point.
32campomar: Yes huge dilution down the line unfortunately. Can't see anything but share price weakness, certainly in the short term.
32campomar: Unfortunately not but that's quite a share price target compared with current levels, clearly big upside potential.
32campomar: Share price at last waking up to rising tin prices, in line with the general metals market. Would seem ATM is the only stock in this sector that has been overlooked hopefully that's beginning to change.
shieldbug: In mid June the operational update said "an upgrade to the slimes dewatering circuit has commenced." and that this work aimed "to advance to nameplate capacity of approximately 65 tonnes of tin concentrate per month towards the end of H2 2020." In my opinion successfully fulfilling this is key to moving the share price. The company's strategy is literally to prove by doing. For whatever reason tin is not a glamorous commodity and the grades at UIS are not high. So price improvements may not help share price until the company proves it can convert rising tin price to meaningful cash. That said, I added recently.
weyweyumfozo: Taken from LSE - I haven't had time to read this yet, and it is long and detailed: Turner Pope - Marketing Communication: ..."Base case valuation of £74.3m or 11.4p per share representing 443% upside to current share price We value ATM using a discounted cash flow (10% discount rate) approach for its Uis tin mine assuming both tin and tantalum concentration production and a long-term price of US$21,500/t, US$150,000/t and US$400/t for Sn, Ta and Li concentrates, respectively. At 11.4p per share, our DCF valuation is 443% above the current market price. We believe ATM’s investment case is dependent upon the company being able to ramp up production at its Uis operations and realise the potential for additional revenue streams from the production of Ta and Li concentrates during its planned Stage III development. We note that our DCF valuation increases to £77.7m or 11.9p per share should the company be successful in increasing the average ore grade from 0.139% Sn (Measured Resource estimate) to 0.158% Sn through a proposed automated ore sorting circuit after the primary crushing stage and the addition of a petalite (4% Li2O) concentrate circuit during Stage IV development."................... Https://
Afritin Mining share price data is direct from the London Stock Exchange
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