AfriTin has today released an operational update with respect to its flagship asset, the Uis Tin Mine (‘Uis’) in Namibia.
Further to the progress detailed in its half year report to end-August 2020 on 29 September 2020, the Company has continued the production ramp-up of its pilot mining and processing facility, achieving 39 tonnes of tin concentrate during September 2020 (August 2020: 37.5 tonnes), containing 27.5 tonnes of tin metal (August 2020: 25.6 tonnes).
With the final phase of Stage I expected to lift plant performance to its nameplate capacity of 60 tonnes/month before the end of 2020, AfriTin’s Board considers this will provide it with a platform for expanding tin production towards Stage II goals along with the addition of tantalum by-product.
Having seen spot Tin prices stage a dramatic recovery since May, now taking them to 16-month highs in anticipation of governments around the world embarking on significant infrastructural and other development programmes to support their post-Pandemic economies, AfriTin has potential to deliver positive monthly operational cash flow for the first time during calendar H1 2021. Significantly in this respect, there have been no confirmed cases of COVID-19 to date at the Uis.
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