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% 5.70 2,002,516 08:00:24
Bid Price Offer Price High Price Low Price Open Price
5.60 5.80 5.73 5.68 5.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.07 -1.83 -0.29 63
Last Trade Time Trade Type Trade Size Trade Price Currency
15:36:20 O 806,052 5.35 GBX

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Date Time Title Posts
14/6/202115:03AfriTin Mining (stock thread with charts)465
12/11/202012:20Afritin Mining.47
25/6/202017:19Moneybox the Number 1 ATM outfit524

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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 5.70p.
Afritin Mining Limited has a 4 week average price of 5.55p and a 12 week average price of 5.50p.
The 1 year high share price is 7.30p while the 1 year low share price is currently 1.75p.
There are currently 1,112,334,912 shares in issue and the average daily traded volume is 1,408,554 shares. The market capitalisation of Afritin Mining Limited is £63,403,089.98.
ukgeorge: H&P research is free and MIFID-II compliant. For details please see here.AfriTin Mining?(LN:ATM)Uis Phase 1 expansion DFS boosts capacity by 67%; £13m equity raise to accelerate developmentGICS sectorTickerMarket cap 13-May-21 (US$m)Share price 13-May-21 (GBp)Target price 28-Feb-22 (GBp)MaterialsLN:ATM66.66.112.5
paddyfool: I think this raise has created a tremendous platform for this business to accelerate over the coming years. Every business can be accelerated by cash and every business can have the management distracted about whether to raise cash or not. So liberating this business from those distractions is a very positive thing. Management can now focus on driving the business forward. I think this time next year the share price will be multiples on from where it is now. We are almost certainly heading into a post Covid boom which will draw on natural resources and drive prices further north, also with the ability to extract other rare deaths from the mine and its outputs, just adds yet more. I partook in the raise substantially for me. I got scaled back but Im happy with what I got. I will be holding this for the forseeable. I also have a strong belief in the competence of this management team. in hand and competent management team with a great resource, a strong and increasing demand for its output of which there is a shortage on the couldn't be better.
koolio: The placing was not unexpected, there has been a mention of it being needed prior to phase 1 expansion. I’m glad that it’s out of the way and we will hopefully see the share price take the next steps. Just a bit disappointed at my timing for a top up earlier in the week. I would imagine that Hammman associates will produce a new broker note soon which will provide some information on time line. This management team are motivated bunch from November 2020 until now when they get the new project started is not long to have rested and reflected on past success. Happy to hold.
mold breaker: Highlights Placing of 216,666,667 Ordinary Shares at a price of 6 pence per Ordinary Share ("Fundraising Shares") to raise GBP 13 million (before expenses). The price of 6 pence represents a discount of 12.5 per cent to the Closing Price on 11 May 2021. Anthony Viljoen, CEO of AfriTin Mining Limited, commented: "We are very pleased to announce today's oversubscribed Placing which puts the Company into a position to expedite the Phase 1 expansion of our flagship Uis Tin Mine in Namibia at a time of unprecedented high tin prices. We may not fall back to the placing price...
ukgeorge: Thanks Outlaw not too bad a discount, will be interesting to see how the share price reacts tomorrow, normally drops to the placing price but hopefully given the recent Tin price these new holders will want to hold for a while so might not been as extreme.
koolio: Cash sale price per ton is currently over $12,000 (60%) above company assumption for 2021. As we move further into full scale production our costs are also forecast to fall significantly(13,000 to 8,800) Can’t wait for a positive announcement on the byproducts or the production or the additional drilling. Share price could quite easily double on a decent RNS.
lasata: ATM prices up close to 5% yesterday.
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!
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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