13th Sep 2021 16:52
AfriTin Mining Ltd - African tin mining company which operates the Uis tin mine in Namibia - For the three months ended August 31, tin concentrate production reaches 185 tonnes, beating the target of 180 tonnes, and up 1.1% from 183 tonnes in the first quarter of the financial year.
Although the ore processed rose 9.9% quarter-on-quarter to 127,263 tonnes, feed grade was down at 0.137% of tin from 0.167% due to natural grade variations in the mining area.
"We are pleased to release our Q2 numbers from our flagship Uis Tin Mine which has exceeded production targets and nameplate for the third consecutive quarter. During the quarter we commenced the early implementation work and long lead item ordering for the Uis expansion programme which will see the processing plant produce 67% more tin concentrate," said Chief Executive Officer Anthony Viljoen.
Current stock price: 5.18 pence
Year-to-date change: up sharply since 2.45p
By Dayo Laniyan; [email protected]
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