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Share Price Information for Andrada Mining. (ATM)

London Stock Exchange
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Share Price: 4.65
Bid: 4.50
Ask: 4.80
Change: -0.10 (-2.13%)
Spread: 0.30 (6.667%)
Open: 4.75
High: 4.60
Low: 4.60
Prev. Close: 4.70
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AfriTin Annual Loss Narrows As Administrative Expenses Fall

Tue, 02nd Jul 2019 11:34

(Alliance News) - AfriTin Mining Ltd on Tuesday said its annual loss narrowed on reduced administrative expenses and increased sand sales.

In its year ended February 28, the miner's pretax loss totalled GBP1.1 million, shrinking from a GBP1.5 million loss for the six months to February 28 the year before. The company listed on London's AIM market in November.

Administrative expenses made up the bulk of this difference, dropping to GBP1.1 million from USD1.6 million. However, the company's financial 2019 year also benefited from GBP26,782 of revenue from the sale of sand at the Zaaiplaats project in South Africa, versus GBP17,826 from the six months to February 28 the year before.

The company did not, however, earn any revenue from the sale of tin concentrate, which is its primary activity. However, it does expect to begin production at its Uis project in Namibia very soon.

Chair Glen Parsons said: "We will focus on the goal of commissioning the phase 1 pilot plant and becoming a producer of tin concentrate. With production imminent at Uis, further attention will now be placed on confirming the JORC-compliant resource, and starting a full feasibility study. The appeal and scale of AfriTin's tin mineralisation at Uis and surrounding permit areas, the discovery of lithium pegmatites at the ML 133 licence, and the acquisition of further prospective license areas near Brandberg West all considerably enhance AfriTin's potential to realise additional value in the future.

"We look forward to the exciting upcoming months for AfriTin with the imminent production of tin at Uis and further developments as we advance to the larger phase 2 development of the mine."

Shares in AfriTin were up 1.5% at 3.50 pence in London on Tuesday.

More News
6 Nov 2018 12:22

AfriTin Starts Validation And Exploration Drilling At Uis, Namibia

LONDON (Alliance News) - AfriTin Mining Ltd said Tuesday it started a phase one validation and exploration drilling at the Uis tin mine in Namibia.The programme is aiming to upgrade an data

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25 Oct 2018 12:38

AfriTin Mining To Start Processing Plant Construction At Uis Tin Mine

LONDON (Alliance News) - Tin miner AfriTin Mining Ltd said Thursday it has completed construction of the civil earthworks and platforms at the Uis tin mine in Namibia.This has allowed to of

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24 Oct 2018 10:36

AfriTin Expects "Transformational" Six Months After Posting Loss

LONDON (Alliance News) - AfriTin Mining Ltd said Wednesday that the second half of its financial year will be "transformational" as it recorded a loss for the first half.For the a

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2 Oct 2018 10:21

AfriTin Mining To Acquire Two Mining Assets In Namibia For GBP850,000 (ALLISS)

LONDON (Alliance News) - AfriTin Mining Ltd said on Tuesday it has agreed to acquire Tantalum Investment (Pty) Ltd from Jan Jonathan Serfontein for GBP850,000, through the issue of 25.0 million at

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2 Oct 2018 08:24

AfriTin Mining acquires Tantalum Investment's tin-tungsten licenses

(Sharecast News) - AfriTin Mining has agreed to acquire African-focused exploration and development outfit Tantalum Investment for a total of ยฃ850,000.

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8 Aug 2018 16:19

UK Shareholder Meetings Calendar - Next 7 Days

Thursday 9 AugustNextenergy Solar FundPremier African MineralsFriday 10 events 13 events 14 15

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7 Aug 2018 11:34

AfriTin Confident On Future Of Uis Mine Following Further Discoveries

LONDON (Alliance News) - AfriTin Mining Ltd said on Tuesday it has found numerous cases of surface mineralisation at its Uis tin mine in Namibia.AfriTin said it has delineated 180 new on on

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21 Jun 2018 13:04

Naminco Lowers Stake In AfriTin Mining To 18% From 25% (ALLISS)

LONDON (Alliance News) - AfriTin Mining Ltd said Thursday that Naminco Ltd had decreased its stake in the African tin mining company to 18% after a transaction last Friday.Naminco lowered a

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23 May 2018 13:57

UPDATE: AfriTin Mining Raises GBP5.5 Million Through Fundraise (ALLISS)

LONDON (Alliance News) - AfriTin Mining Ltd said on Wednesday it has raised GBP5.5 million through a placing and subscription of 223.6 million shares at a price of 2.7 pence per in the tin-focused

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23 May 2018 12:28

AfriTin Mining To Raise GBP5.5 Million Via Share Placing, Subscription (ALLISS)

LONDON (Alliance News) - AfriTin Mining Ltd said on Wednesday it intends to raise GBP5.5 million through placing and subscription of new shares.The company plans to issue shares at a price

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4 Apr 2018 11:37

AfriTin Completes Mine Design For V1 And V2 Pegmatite Bodies At Uis

LONDON (Alliance News) - AfriTin Mining Ltd said on Wednesday it has completed a detailed mine design over the priority V1 and V2 pegmatite bodies in the flagship Uis Tin the

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4 Apr 2018 07:50

Australia shares gain for first day in 4; NZ also up

* Aussie and NZ shares of a2 Milk among top gainers on both benchmarks * CBA, NAB and Westpac reverse trend to end higher (Updates to close) By Susan Mathew April 4 (Reuters)

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4 Apr 2018 04:10

Australia shares ease for 4th day as financials drag; NZ higher

* ANZ falls for the eighth straight day * Fonterra slightly lower after NZ milk production falls in Feb By Susan Mathew April 4 (Reuters) - Australian shares eased for a day a

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29 Mar 2018 02:27

Australia shares edge lower after volatile Wall Street finish; NZ down

By Aditya Soni March 29 (Reuters) - Australian shares were slightly weaker in thin pre-holiday trade on Thursday, as softer iron ore prices weighed on materials stocks and following a 200 a

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27 Mar 2018 06:51

Australia shares bounce on easing trade war worries; NZ rises too

* Aussie shares erase previous day's losses * Materials, industrials lead gains on ASX * Consumer staples, utilities boost NZ shares (Updates to close) March 27 (Reuters)

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