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Well 10/10 for the sign up process. Very slick.

Let’s now hope they get masses of people using it and depositing money.

Most traders will still not pick up on the relevance of this, but for those who expect BE to be huge this is another step towards the expected exponential growth. To paraphrase FM, he expects BE income to be 10 times the size of the V mining side.

Getting exciting

21M was estimate back in 2017 http://afritinmining.com/wp-content/uploads/2017/10/Afritin-Corporate-Presentation-October-v9-TAV.pdf

Basically double the current market cap. So will likely be 1B shares in issue, or more, but they will have 21M in bank and enough cash to take them to a 5,000 T annual producer. Could be an argument for waiting, could be an argument for buying now. I and many others have decided to buy now. Your decision is yours.

Excellent post Ophidian. I limit my time on these boards for those reasons. There are too many focused on the short term noise, for profit or out of frustration. The story is still brilliant and you are probably correct to suggest the management team have been a little overwhelmed by the success. It will come good though, very good..

GLA

Cannot believe I can still buy these at sub 30p. Got to be one of the bargains of the century. Mind you went DNT quite a few times on HL before the deal went through.

I understand the frustration with the sp over last 3 months or so but I still cannot believe the prices they are letting LTHs buy more at these prices.

GLA

I like your last point SOTRR, a point I have tried making umpteen times on here. This is one to stick away and forget about for 2/3 years at least.

I have also become cold and suspicious about people asking for research findings only to then start arguing with them when you share. A typical troll tactic. Maybe makes me a little spiky in my responses at times.

SOTRR

I did not ignore your post I just did not read it, apologies. I really only pop onto these boards once a day at most these days.

I have checked and you are indeed correct, the costs shown are not for the UIS area. On that basis we all just need to wait and see as any other comment is really hypothetical at this stage.

Some on here seem to think others are here to do their research for them you are obviously not one of them!

Your post is quite impressive and without any further information to go on I will leave it at that.

GLA

dipstick... filtered

As already stated. The costs quoted are to produce a ton of tin, including the smelting costs, so when ATM are running their own smelter they will net circa $6000 per ton, at $20k per ton and assuming they have a fully efficient plant. Until then they have to pay a smelter around $1500 per ton to process the concentrate, netting $4,500.

They have also only built a temporary plant at stage 1 to prove concept. They will need more labour so their initial costs will probably be higher. Which is why they need to get io stage 2 ASAP.

So once up to 10000 ton, with the plant fully efficient and running their own smelting plant, the ultimate plan, their EBITDA will be circa £50M. If tin hits 22k per ton as suggested then this will be higher, obviously. Then there is is the Tantalum etc. all this will take 3 years or so to complete and their costs along the way will be higher until they are fully efficient.

As they have said all along stage 1 is about proving a bankable project, which hopefully they will have soon. They will then need to raise money to fund stage 2 (as discussed endlessly on here). The prize, is a 50p sp in 3 years, not short term gains.

So, the investment risk is, do you buy now at 3p or wait until they have proved concept and raised the funds to fund stage 2 is what you should be focusing on not hypothetical cost questions.

If you don’t believe the economics stack up or you don’t understand the investment case, fine go find a company that you do understand. Or, as other investors do, DO YOUR OWN RESEARCH.

I for one do not have the time or inclination to engage with you.

Hi James, I will leave to others to answer your questions as I do not currently have the time to get embroiled in discussions. Suffice to say I have now have a large holding in ATM and expect to do so, based on my research, for the long term.

Agree Alpha, and then add in the plans to build own smelting plant in a few years and the possibility of licensing the mining of the Lithium deposits they have found. This is going to be a very profitable and large mining operation in a few years.

Lack of response more to do with only checking in here once or twice a week.

http://afritinmining.com/wp-content/uploads/2018/04/Corporate-Presentation-April-2018-FINAL.pdf

The costs have been disclosed throughout most of their presentations so don’t think any information has been held back or hidden or any cageyness at all.. in fact they have been quite bullish about confirming their costs will be in the bottom quartile.

Costs of $14,200 per ton of tin (including smelting costs) gives current gross profit of circa $4,800. The previous report shows expected EBITDA of 21%, which again is about $4200. So working on $4500 of profit per tonne would seem a sensible starting point.

So, once 5000 tons being produced that is about £20,000,000 profit, once 10,000 about £40,000,000 once smelting themselves about £50,000,000, at a 10 PE gives £500M market cap. Read my previous notes they all tend to tie together based on disclosed facts and forecasts.

Hi Faramog, I believe the income will only be 60% of your quoted figure given the concentrate will need to be sent for smelting, but $700K is still not to be sniffed at (and there is the potential for tantalum too).

The funding figure talked about back in 2017/8 was $25M/£20M. I am sticking to my original idea that there will be about 1B shares in issue once the stage 2 fund raise is complete until I hear anything to the contrary, so I still have a gross earning of circa £50M and a 25/30p SP in mind once stage two is complete.

The problem as always, is to stay and be diluted or wait until after and see the rise. I will probably do a little of both in the coming 12 months.

They talk about $100M of annual revenue as their target so I assume this will include the smelting plant and increase in production, with hopefully most of this CAPEX coming from revenue. As always things move! But I still have my 3 year 50P SP target in mind.

As always just my opinion

Thanks for posting on here Worzel.

Seems full production by July, slightly delayed but unsurprising given size of project. Another 60 mouths to feed so need to be turning this into income ASAP.. They should have full JORC results by then too.

Could be a good time for a few more top ups.

Same here... ouch, but move on. That RNS was a joke. No idea, no clue and definitely no strategy. Someone is still buying because got out quite easy.. wounds licked.

GLA to those who stick with it..

The main thing is that production is due to begin within the next 8 weeks and also that the income produced will be higher than initially planned. With actual cash coming in ATM can stay calm and steady and raise the capital at the best terms.

The world is is in another short term stage of panic over global trade and I can imagine raising funds at the moment is not the easiest thing to do. Like I have said umpteen times I believe this is a nice little long term hold as part of a balanced portfolio. It is also, thankfully, not yet a pi trading stock.

CC, no doubts in the short term. Thankfully we are invested for the longer term so I am quite confident we will touch 5/6p later this year. For those with patience this is a nice little addition to a portfolio IMHO, especially at these prices.

Agree with Daisan and on the scale of what is to come a little capital in the bank does no harm (apart from a little unexpected dilution). Anybody who bothers to read the investment presentations would know about the planned expected capital raise for stage 2 and not ask on this board. Stage 2 was always going to be a large dilution but hopefully stage 1 production will finally propel the sp closer to the 6p that I expect the capital raise to be done at.

This puts a firm 3p base under this share so hopefully we will enjoy a nice rise in Q2 and Q3

My only niggle is that Miton get to have cake and eat it. They were a large seller earlier this year from 4p down to 3p because they knew they would get to buy more shares at 3p. Cannot stop this but I don’t like it all the same.

The numbers are good..

ATM have been using a conservative 0.136% figure on their presentations for Sn (tin) and nearly every reading on the RNS is higher than that...so basically they own what they say they do..

Only 5 holes out of 20 but I suspect they would not publish them if not indicative of the others.

The lithium and Tantalum figures will come later but are still very much the cherry and sprinkles on top of the iced cake..

The whole board is infected with nasty little minded people with a grudge against RP.

From the words used I suspect it is the same people who cannot leave twitter alone too.

Good news and shows the BoD want to do everything correct and thoroughly, as they stated last year. I need to be a little bit more patient as more good news will undoubtedly come along as the year progresses.