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% 5.10 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
5.00 5.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 4.99 -5.80 -0.76 57
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 5.10 GBX

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Date Time Title Posts
06/12/202122:15AfriTin Mining (stock thread with charts)670
18/8/202116:22Capex to 1000mtv-
12/11/202012:20Afritin Mining.47
25/6/202016:19Moneybox the Number 1 ATM outfit524

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2021-12-08 16:28:005.0575,0003,787.50O
2021-12-08 16:27:475.0775,0003,804.00O
2021-12-08 16:27:375.0775,0003,804.00O
2021-12-08 16:11:435.00200,00010,000.00O
2021-12-08 15:29:205.0715,106765.86O
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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 5.10p.
Afritin Mining Limited has a 4 week average price of 4.85p and a 12 week average price of 4.55p.
The 1 year high share price is 7.30p while the 1 year low share price is currently 2.34p.
There are currently 1,112,334,912 shares in issue and the average daily traded volume is 1,651,539 shares. The market capitalisation of Afritin Mining Limited is £56,729,080.51.
megaman2: The lithium oxide is not for use as a battery metal it's used in ceramics. I thought ball park figures for cost reduction would be c $5000 per tonne . Which is clearly a big deal it will reduce costs more than the tantalum but it's not in the same price range by any measures as the tin. It's not about Being inpatient it's about having a clearer plan/milestones on how it gets to its 5 year plan.Most junior miners at this stage will or even pre production would be telling investors the stepped plan and capex requirements and is why crux persisted twice with the question .
freddiehoward: From the interview, its clear that Viljoen currently views the profit only in terms of tin production as that is currently the main product as stated around 20 min. They are currently mining around 1 million tones a year i.e. about 80 tonnes a month. The current unit cost is $17- 18.000 for the tin and they now sell at $37,000 i.e. $20,000 GP per tonne. These figures will be variable, but that's how he gets around $1 million a month FCF. They now aim to increase throughput, increasing the amoun of tin produced and that will increase FCFproportionately as they get further into Phase 1. Note, the primary aims of phase 1 are complete i.e. the operation is profitable. However, phase 1 also calls for firming up reserves (banks need this) and increasing throughput to demonstrate expansion theerby prducing a proper feasibilty study for the mine (all mines need that). At around 20 mins he describes addition of 'bonanza elements. Currently the plant is set up to extract heavy metals and this includes tantalum which is only just being extracted. The revenue from this is seen as a unit cost reductiond for the tin, so they will get about $2000 for the tantalum for each unit of tin produced, ut Viljoen ounts this as cost reduction of tin for simplicity. Lithium is light and is currently just waste. They have to put a new unit in to get the Lithium from the waste. They don't know in what form yet or how much they sell it for. Initially he is describing the money he gets for lithium as a cost reduction for each unit of tin rather than as revenue, as he did for tantulam. However, there is so much lithium and the price of it is oncreasing it may become the main product in which case he will see tin as the 'cost reducer'. Anyway,he currently views the additional products as a means to drive down his unit cost. I think what he describes is essentially an increase in revenue but he sees it as unit cost reduction and that is the root of confusion. A more conventional way of seeing things woud be to say the unit cost is $17-18,000 and he gets $37,000. Adding tantalum, will raise the revenue by $2000 at little cost. Adding Lithium will add $xxxxx revenue (TBD) at little increase in cost. He sound more like a COO/miner than a conventional CEO as he likes to think in terms of reduced costs rather than increased revenues which most investors want. This in my view is the cause of confusion. I actually think he is doing a good job, but this way of presenting, along with the outstanding requirements for phase 1 - firming up reserves, demonstrating expansion etc. is upsetting the impatient. When you cut through that you can determine what he is actually trying to do.
ukgeorge: Company News AfriTin (ATM LN) – 5.1p, Mkt cap £56.7m – £4.5m loan to expand Uis processing capacity • AfriTin reports that it has closed and drawn down a N$90m (approximately £4.5m) senior secured loan facility with Standard Bank Namibia to fund the expansion of its Phase 1 processing plant at the Uis tin mine in Nambia. • The five-year loan attracts interest at “3-month JIBAR (currently 3.85%) plus 4.5% (currently equal to 8.35%)”. • The expansion plan will increase tin concentrate production by 67% to 1,200tpa from the current 720tpa rate through “the expansion of the dry crushing and screening circuits, consisting mainly of an additional secondary crusher and vibrating screen, and a fines ore stockpile to decouple the comminution circuit from the concentrator”. • Afritin will also address “potential throughput constraints in the concentrator that may result from the increased feed rate, as well as improvements to the concentrate cleaning circuit to enhance tin recovery”. • In addition to the senior loan, Standard Bank I also assuming Afritin’s working capital financing which “incur an interest rate of Namibian prime lending rate (currently 7.50%) minus 1.00%” and providing loan guarantees of N45m to Namibia Power in relation to the Uis mine’s electrical power requirements. • CEO, Anthony Viljoen, said that the transaction with Standard Bank “marks the start of a long-term financing partnership to continue the rapid development of the Uis Tin mine to its full potential and growing our tech-metal revenue profile” *SP Angel act for Bushveld Minerals which holds around 9.5% of AfriTin
koolio: I don’t expect much for the share price on announcing more drilling, this is what gets the geologists excited not the bankers. When those cores are logged and split assayed the information will be used to support phase 2 so the drilling is sometime away from having an impact on the share price The only news that the share price will record a big bounce on (IMO) is the news of the “potential bi-products” being successfully separated and/or the plant upgrade process. The project team are keen to share the drilling news with us, thousands of meters to get the rock lickers moist but as a share holder I want news on the tantalum to get me going. IMO, happy to hold.
megaman2: Im looking forward to some sort of capex plan for the full expansion . If tin prices remain elevated and with credits for tantalum and li2o with next year's increase the company will.be chucking out cash it will be possible to self fund part or all of the capex. It's just a waiting game if things go to plan and in 8 months time tin price is the same or as some are predicting higher share price can be multiples higher .
weyweyumfozo: Myles McNulty @MylesMcNulty · 1h Added more to @Afritin_Mining #ATM, to reduce av. to ~5.1p. #tin at another all time high again today: Https://markets.businessinsider.com/commodities/tin-price… At this price, #ATM will be trading on a forward EV/EBITDA of circa 2.0x, when Uis Phase 1 expansion (already paid for) is completed in 6-8 months. Https://twitter.com/mylesmcnulty?lang=en
5teadyeddie: The problem is the SP: to justify it needs a constant high tin price and everything going to plan on the next expansion. Upside from here needs Phase II expansion and Li/Ta reserves, which are at least a year, maybe two or three away. It's an age in AIM junior metals, where the marginal traders, who set the price (those who just hold don't set the price) move from one stock to another trying to make a turn. Look at how JLP is punished because the next profit lift is a year or two away, even though it has a phenomenal track record and profits are about as certain to double (in two years) as anything is in metals investing. ATM's share price is going to drift! Just my opinion, of course :)
ukgeorge: From share price Angel AfriTin* (ATM LN) 5.06p, Mkt cap £56m – High tin prices drive unexpectedly high margins for AfriTin • AfriTin are enjoying an unexpected lift in margins on shipments of tin out of Namibia. • The Uis mine in Namibia is also looking to double monthly tin concentrate output from the mine to around 120t per month. • The expansion combined with high tin prices should see the company report profits for this year and could also pay down £3.8m of current borrowings. • Tin prices hit US$ 36, 594/t yesterday on strong demand and low official inventory levels • Tin prices have risen by >70% since the start of the year with little sign of a retracement. • Premiums for physical ‘cash’ delivery have risen on the LME bringing in some 6,000t into the market but this is still below outflow levels due to rising demand. • European buyers are paying premiums of ~$1,500-2000/t for physical tin, the highest since records began in 2009. • Shanghai stocks are at their lowest since 2016, currently at 1,542/t from 8,853/t in March. • Shanghai tin prices hit a record high of CNY244,900y/t this week. • Yunnan Tin, one of China’s largest producers, has shut a smelter for 45 days disrupting an already tight supply chain with other tin smelters slowed by local power restrictions in China. • Malaysia has raised production by just 2% this year with Indonesia also struggling to react. • Myanmar which supplies tin smelters in China may be seeing reduced production due to political issues within the region. • Demand for tin has risen to rising demand for electric vehicles, electrical goods and circuit boards. • A joint study between Rio Tinto and MIT in March 2018 showed that tin is the metal most likely to be impacted positively from new technology. • Tin scored very highly using the MIT framework because of the potential for increased demand applications, particularly in the electrical and energy storage areas. • These demand changes might be large in comparison to the current market size. Conclusion: We expect AfriTin to report significantly higher profits in H2 supported by high prevailing tin prices and rising production.
montyville2: Difficult to work out a target price as usual factors like PE ratio need earnings and this company is not due to make a profit until next year 2022 (a recent interview I think). That said the rising tin price should hasten the breakeven point. Stockopedia are showing a forecast revenue of 17.7m in 2022, and a -1.3m net profit which equates to an EPS of approx -0.2p. To have a PE of 10 they would need an EPS of 0.4p which would need a net profit of approx 2.6m, at the current share price. This sounds achievable to me. I know this is very crude, and I am certainly no accountant, but it seems to support the current share price relative to near term profitability. Of course the share price for a junior explorer/producer is all about the potential rather than earnings. They are sitting on a huge resource and are looking to prove more of this resource as well as ramp up production. They have a busy year ahead to do both these things and a stream of positive newsflow should see this intangible value grow. However now that they are moving into positive cashflow they should not need to raise further funds by diluting equity, unless they want to accelerate growth in asset or productivity. Sorry for the long message but I wanted to find some kind of logic to answer the original question. Therefore I would say 10p is a realistic target price for the next year/18 months, as long as we get the positive newsflow. As I say I am no accountant, so this all may be nonsense. If others have a better way of forecasting share price growth - please share.
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?
Afritin Mining share price data is direct from the London Stock Exchange
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