TPI provides its latest research note on AfriTin Mining Limited (ATM.L).

Please note, this is a reissue of the AfriTin note distributed on 3rd February 2021 and has been updated with a correction made to revenue forecasts pertaining to Phase 2 revenues whereby the revised figures stated now include revenues derived from both tin product and bi-products.

AfriTin Mining is an AIM-listed mining company focused on increasing production levels at its 85%-owned Uis Tin-Lithium-Tantalum Project, located in Namibia. AfriTin has evolved over the past 12 months, from being a tin focused development company, to being a polymetallic mining company.

Additional studies completed by the company during the year have further highlighted the importance of by-products, including tantalum and lithium, to further improve the economics of its operations at Uis.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to AfriTin Mining Limited. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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