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
  -0.10 -2.11% 4.65 1,537,372 10:05:19
Bid Price Offer Price High Price Low Price Open Price
4.50 4.80 4.90 4.65 4.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.07 -1.83 -0.29 38
Last Trade Time Trade Type Trade Size Trade Price Currency
15:22:38 O 150,000 4.69 GBX

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Afritin Mining (ATM) Discussions and Chat

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Date Time Title Posts
02/3/202119:23AfriTin Mining (stock thread with charts)240
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
2021-03-03 15:22:394.69150,0007,035.00O
2021-03-03 14:37:494.60100,0004,600.00O
2021-03-03 14:35:574.60100,0004,600.00O
2021-03-03 13:52:424.59259,27111,887.58O
2021-03-03 12:46:444.7410,593502.00O
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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 4.75p.
Afritin Mining Limited has a 4 week average price of 3.75p and a 12 week average price of 2.34p.
The 1 year high share price is 5.20p 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 3,474,172 shares. The market capitalisation of Afritin Mining Limited is £37,835,094.30.
ukgeorge: I'm hoping for a couple of more boring months like the last when the share price doubles in value.....
74tom: Spurred on by the rising tin price, I've crunched the numbers on ATM today. I've been aware of their scale up for some time, but never actually doing the groundwork to see how they were actually getting on. Very very impressed by their communication to the market. It is very transparent, informative & allows you to piece together a heck of a lot about their operation. I'd say the key RNS to read is that of 16/06/20, as it contains detailed information around the four phase expansion plan. As per that RNS, the current capacity is as below; "Stage I of the Phase 1 pilot plant envisages Run-Of-Mine ("ROM") ore crushed and beneficiated in a processing plant designed for a capacity of 566,400 tonnes per annum, to produce 787 tonnes of tin concentrate and 40 tonnes of tantalum concentrate." Of particular interest are the figures provided for NPV for the phased expansion which include assumptions on tin price and calculate the first stage IRR. 2021 tin price was estimated as averaging 21k, with between 21-24k for the next 3 years. This gave an IRR or 60%. But increase tin prices 20% and the IRR rockets to 79%. At the current spot rate of 29k we are 38% above their 2021 assumptions... In terms of revenue potential, half year to 31st Aug 2020 produced £1.1m. Now that full phase 1 ramp up has occurred along with increasing prices, in H2 2020 I expect revenues to come in between £4-4.2m. However, at current price & pilot nameplate production of 45t per month, we are looking at £1m a month revenue. Cash cost is noted as being $13900/T, so gross margin should be excellent. Clearly the timing of increased production + price explosion in tin is potentially transformational for their future plans, as free cash flow will be significant at current levels and allow them to fast forward improvements. This will in turn create a virtuous cycle of increasing production = more revenue = more investment. They are right in the sweet spot. The ultimate phase 2 goal of 5000T tin production per annum is of course a few years off, but the fact that at current prices that would generate $145m of revenue must surely help to re-rate ATM up towards a minimum of a £100m cap pending further progress. It certainly feels like a nailed on buy at 5p. As always, do your own research & no investment advice is intended!
outlawinvestor: Current nameplate capacity is 60 tonnes of tin concentrate per month targeting 60% contained tin. In November '20 they produced 63.9 tonnes concentrate with 41.6t contained tin (i.e. 65%). According to Monday's RNS "the strong tin concentrate production levels have been maintained since November 2020." The upcoming financial year (commencing March) will be their first year of production at full capacity and they are planning to expand capacity by 50%.
outlawinvestor: LIVE FUTURES REPORT 15/02: LME tin closes above $24,000/t; new 2021 highs for most of complex Tin’s London Metal Exchange three-month price closed 3% higher on Monday February 15 at $24,385 per tonne, while the rest of the base metals prices continued to capitalize on bullish momentum with new year-to-date highs for all metals except for zinc. The tin price extended to $24,895 per tonne around midday, rising by some $1,000 in one hour. The short squeezing has resulted in the highest price for the metal’s futures contract since February 2013. Tin’s cash price rose by $5,000, coming to as much $30,501 per tonne on Monday, while its benchmark cash/three-month spread was in a $6,000 per tonne backwardation for some time, before settling at $5,240 per tonne backwardation at 5pm. hTtps://
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.
shieldbug: Presentation aimed more at new investors. I wonder if they will raise money soon to fund expansion. With the stronger share price it would seem a good time.
outlawinvestor: ATM included a 20% tin price sensitivity impact in their NPV calcs back in June. They assumed FY21 average tin price at $20,168. Of course it is way too early to change average price assumptions knowing how volatile commodity prices can be.
koolio: 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.
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?
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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