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

AfriTin Mining’s (ATM) flagship asset is the Uis tin mine in Namibia comprising a large tin (Sn), tantalum (Ta) and lithium (Li) bearing pegmatite field that is fully permitted and currently producing tin-in-concentrate.

Mining operations have returned to full-scale following easing of COVID-19 restrictions. Production is now being ramped up to 747tpa of Sn concentrate with an off-take agreement already in place.

A phased development approach is planned over the near-term by increasing throughput by 50% plus the production of Li and Ta concentrates for potential revenue streams.

Given the strong demand for tin forecast over the medium to long-term, on the back of new applications for the high value metal, we believe ATM has a compelling investment case. As such, ATM is an inexpensive play on the fundamentally attractive tin market within a mining-friendly jurisdiction and currently the only pure tin play on AIM.

Read More ATM_Initiation_.pdf

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 Limitedc. 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 © 2020 Turner Pope Investments (TPI) Limited, all rights reserved.


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