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AfriTin Mining Ltd - technology metals mining company focused on Namibia - In its first quarter ended May 31, increases tin contained in concentrate production by 13% against the previous quarter to 152 tonnes. Achieves record tin recovery of 67% and a record quarterly performance at its Uis mine, with tin concentrate production at 239 tonnes. Adds that its phase-one expansion project is on track for completion in the third quarter of the calendar year.
Chief Executive Anthony Viljoen says: "Our tin-producing operation at the Uis mine continues to deliver record-breaking performance. I am also pleased to note that the initiatives aimed at improving our unit costs are yielding positive results...The phase 1 expansion project is nearing completion and will further strengthen our tin revenue base. The strong performance of the tin operation provides a solid platform for developing potential lithium and tantalum by-product revenue streams."
Current stock price: 6.35 pence, down 1.6% on Thursday in London
12-month change: up 11%
By Heather Rydings; heatherrydings@alliancenews.com
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