AfriTin Mining Ltd Uis Tin Mine Operational Update (7593O)
February 01 2019 - 1:00AM
UK Regulatory
TIDMATM
RNS Number : 7593O
AfriTin Mining Ltd
01 February 2019
1 February 2019
AfriTin Mining Limited
("AfriTin" or the "Company")
Uis Tin Mine Operational Update
Appointment of Joint Broker
AfriTin Mining Limited (AIM: ATM), a mining company with a
portfolio of near production tin assets in Namibia and South
Africa, with the flagship asset being the Uis Tin Mine in Namibia
("Uis Mine"), is pleased to provide an operational update related
to the development of a mining and processing facility at Uis as
part of the Phase 1 Pilot Plant Project.
Highlights
-- Decision taken to modify the Phase 1 Plant to add production
capacity and also produce a tantalum concentrate which will add to
revenues
-- Maiden tin and tantalum concentrate production from Phase 1 expected in Q2 2019
-- Stock piling of ore proceeding well following first blast in December 2018
-- Confirmation of sufficient process water supply from
hydrogeological study and water drilling programme
-- Electrical grid power to be supplied from existing high-voltage line
-- Mobilisation of mining contractors
-- Enhancements of the concentrator plant design and subsequent construction
-- Further progress on drilling programme in line with the Company target
-- Appointment of H&P Advisory Limited ("Hannam &
Partners") as joint broker and corporate advisor
Following the start of the civil construction works in June
2018, the Company has been preparing and rehabilitating the Uis
Mine site for the commencement of the Phase 1 Pilot Plant
commissioning and production of tin concentrate. As previously
announced, during December 2018 the Company undertook the first
large-scale blast of mining material. The primary crushing circuit
was commissioned and first material was crushed and stockpiled. The
Company is well advanced with the procurement of mining contractor
services for drilling, blasting, loading and hauling and
mobilisation is expected once the contract has been finalised.
In consultation with its engineering consultants, The Company
has decided to implement two additional components to the Phase 1
Pilot Plant. To increase plant throughput capacity and flexibility,
a third dense medium separation ("DMS") section has been procured.
In addition, a magnetic separation circuit will be installed in the
plant. This addition will allow the plant to produce tantalum
concentrate alongside the primary tin concentrate. The improvements
should now result in first concentrate being produced in Q2 2019
but are expected to increase the overall revenue-generation
capability of the Pilot Plant
The Company has made significant progress in addressing the
infrastructure requirements for the Phase 1 Pilot Plant and Phase 1
of production. A geohydrological study, water drilling and test
pumping programme has been completed. The results of the programme
have confirmed the viability of using groundwater sources to supply
the Phase 1 Pilot Plant with the required process water.
Electrical power to the operation will be provided from the
existing high-voltage supply line that currently terminates
approximately one kilometre from the plant processing site. The
Company is now in the process of concluding a supply agreement with
the relevant authorities that will allow the plant to be connected
to the power grid. Backup power, in the form of diesel generating
sets, are also being installed at site.
Accordingly, the Company confirms that as a consequence of the
additional work its target date for full scale concentrate
production is now quarter 2, 2019.
Phase 1 exploration commenced at the start of November 2018 with
the primary goal of validating the existing historic SRK resource
over the V1 and V2 pegmatites. To date, 18 of the required 26 drill
holes have been completed with all finished holes being
geotechnically and geologically logged directly onto a new
cloud-based geodatabase system. The core will be assayed and
prepared for the declaration of an initial JORC resource on the
project, and further announcements will be made in due course as
appropriate.
Appointment of Joint Broker
AfriTin is also pleased to confirm the appointment of Hannam
& Partners as a corporate advisor and joint broker. Together,
we have been working closely on the development strategy of the
Company and the conclusion of a working agreement is a culmination
of this work.
Commenting on the developments CEO Anthony Viljoen stated, "The
additions announced today to the Phase 1 Pilot Plant will allow for
the production of both tin and tantalum concentrates as well as
larger throughput capacity at our Uis Phase 1 Pilot Plant. These
changes will not only improve revenue from Phase 1 but also allow
us to further de-risk the larger Phase 2 production which is
subject to a Bankable Feasibility Study."
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
For further information, please visit www.afritinmining.com or
contact:
AfriTin Limited
Anthony Viljoen, CEO +27 (11) 268 6555
Nominated Adviser and Joint Broker
WH Ireland Limited
Katy Mitchell
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Nilesh Patel +44 (0) 20 7907 8500
Joint Broker
NOVUM Securities Limited
Jon Belliss +44 (0)20 7399 9400
Financial PR (United Kingdom)
Tavistock +44 (0) 207 920 3150
Jos Simson
Barney Hayward
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining is the first pure tin company listed in London
and its vision is to create a portfolio of world-class,
conflict-free, tin producing assets. The Company's flagship asset
is the Uis brownfield tin mine in Namibia, formerly the world's
largest hard-rock tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current two-fold strategy: fast track Uis
brownfield tin mine in Namibia to commercial production in Q2 2019
ramping up to 5,000 tonnes of concentrate, and consolidation of
other quality African tin assets. 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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