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These dates are now actually revised to Q4 2022 for the pilot circuit (although in the Crux interview, someone mentioned 2023..) and 2024 for the full scale circuit (no month specified). Apparently off-take demand is huge, we just won't have anything meaningful to deliver for 18-24 months..

By comparison:

Zhejiang Huayou Cobalt, the world’s largest producer of cobalt, has announced its intention to rapidly develop the Arcadia project in Zimbabwe, investing ~US$300m following the US$422m acquisition from Prospect Resources. The company will construct a process plant with a capacity to treat around 4.5Mt of ore and produce 400,000 tonnes of lithium concentrate per annum, with first product expected in 2023.

ATM are targetting 2024 for their lithium separation circuit on the expanded phase 1 plant. Why the delay..?

Thanks EK, good to hear the phase 1 expansion is on course to come online in Q3. Good to hear from a number of people in the team, I still find it frustrating to hear AV answer questions, never seems to make clear points. One negative, sure one of the interviewees mentioned that the pilot lithium plant won’t be ready now until 2023, as opposed to Q4 this year as mentioned in the RNS of a few weeks ago. More slippage, MR not the only one frustrated by AV’s slow, modular project timelines. The time is now AV, at this pace we won’t be seeing byproduct benefits until 2024/5 and full scale economies in what, 2027..? Maybe time for some pressure on the gas pedal..?

Just for clarity, the Odey SS fund subscribed for 8m shares at 25p back in March, as part of a subscription fund raise. This fund is managed by Adrian Courtney, nothing to do with Crispin who i don't believe subscribed for the funds he manages separately. AC's track record since he launched the fund is very strong, he specialises in bidding and undervalued equity stories, sees AVO as very attractive from a risk/return point of view at these prices. PD

Simply put, because 25p would be a great IRR for many shareholders who have been involved from 2018. It would be > 10x return for me, suspect the same for many larger holders. Phase 2 will cost close to $500m in capex, involving share issuance, not appealing to many who would prefer to rotate their capital into another venture. Happens a lot. Also, a lot depends on whether the board want to manage this much larger project.

Agree Lasata, next piece will be confirmation of full resource figure across the licenses. Always felt this would be the outcome, proof of concept, sale to a larger mining outfit. Full lithium production on phase 1 plant not likely till 2024, how long until phase 2 full plant, 2026 at best..? Ridiculous undervaluation to NPV, question is what current controlling shareholders would accept between current price and the 5 year valuation. 20-25p..?

ATM fall in SP roughly following that of the tin price from it's peak, about a third. Not sure the fall in the tin price is justified given the severe supply-side issues for the metal, and low inventories, so don't see it staying at $33k for long.
Highlights how important it is to prove resources across the 3 metals, and deliver successful by-product test data, get away rom being a one-metal pony.
Still feel it was a mistake to spend so much time, money and management/engineer resource on phase 1 expansion as opposed to focusing on the 2 points above. Phase 1 expansion doesn't move the dial much, on a project design which was already deemed a success and justified 10x ramp up. By-product separation has yet to be confirmed as possible/viable..

Bloomberg) -- Stifel, Nicolaus & Co is hosting a corporate
access non-deal roadshow for AfriTin Mining Ltd. in London on
April 27 to April 29.
WeConvene provided the following details:
==============================================
Title: AfriTin Mining Ltd (ATM) - Non Deal Roadshow
Summary: Stifel will host a Non-Deal Roadshow with Anthony
Viljoen (CEO), Rob Sewell (CFO), and Frans Van Daalen (COO) of
AfriTin Mining Ltd on Wednesday, April 27-29 in London.
Management/Speakers:
* Anthony Viljoen, CEO
* Rob Sewell, CFO
* Frans Van Daalen, COO

ATM has had approaches in the past, and I’m going back a few years now. It’s very likely that there is similar interest now, my guess is that a serious approach wouldn’t happen until drilling confirms true resource size across the licenses and the process for by-product separation is confirmed as successful. Who wouldn’t want to snap up 3% of global tin supply for decades to come, at a fraction of it’s potential value? Insiders don’t own much of a stake, several large holders switched across from BMN, their time horizons may not extend to real value creation from 2026 onwards. An offer between 15 and 20p would probably appeal to many of them.

Fully agree gshivers, and driving costs down through by-product sales really needs to be a priority now, it’s been talked about for too long.
I also question the logic of phase 1 expansion when surely it makes sense now to proceed direct to full phase 2. The expansion won’t be adding anything until next year, and even then doesn’t move the dial much. It’s using up time and management resource that could be directed at starting phase 2, which it seems still hasn’t properly begun. I don’t get it, just stretching out ultimate full production to 2026 at best.

Boom..!
About time
:)

email me on bundeera@yahoo.co.uk Lasata..

Todays note from H&P easily the most bullish yet, seems to condede that it is still difficult to value ATM, but for a good reason, the shear scale of the opportunity here. ATM has tracked the rise in the tin price since 2020 whereas peers are ahead by 2-3 x this increase, leaving ATM on something like a 60% discount in terms of enterpise value to mkt cap, which is ridiculous. Puts it down to continued poor perception by the market of what ATM actually is - in fact apart from trying to get it's head around the scale of the opportunity, the rest of the note seems to try to explain why the shares have lagged so much in the last two years. Again, they fall back on the usual - 'we believe delivery of the Phase 1 expansion, further studies on the production of lithium and tantalum concentrates to supplement the current tin
operation, testing the use of ore-sorting technology, and progress towards Phase 2 should mark a paradigm shift in how ATM is perceived in the market.'
I hope AV reads this, it's been a common point raised by analysts for over 18 months, not helped currently by dragging it's feet on production and testing progress.

Puzzled on the delay with the production update, surely much of this data would have been available for the analyst visit earlier this month, as already hinted at by Tamesis. The equivalent update last year was March 8th, although each quarter seems to be getting later and later. Typical ATM, comms not their strong point..

I'll wait for the usual doom-merchants to come along and cr*p all over this DB but i think you're spot on and valuing the company the right way - I had a 2.5p target in mind by drill time, with market hype adding to this as the frenzy builds before the results..

It was mentioned in a research note from H&P issued yesterday - kind of sums up ATM's approach to communicating with shareholders, you get to hear second hand. Not their area of expertise or focus it seems, but no change there..

Think we can expect production report for Q4 and hopefully by-product news on the back of this next week (final line of para):

AfriTin (ATM) has announced the discovery of spodumene lithium mineralisation
on its ML 129 licence in Namibia, 11km from its existing operational plant at Uis.
The presence of spodumene is significant as it complements Uis’ existing inferred
petalite lithium resource and shows the potential for ATM to develop a suite of
lithium products amenable to both the technical (e.g. glass, ceramics) and
chemical (e.g lithium-ion batteries) markets. AfriTin plans to conduct a drilling
campaign in 2022 to flesh out this discovery. We believe today’s announcement
marks an important step in AfriTin’s development into an African technology
metals champion, operating within a stable, mining-friendly jurisdiction. With tin
prices continuing to hover near all-time highs, Uis already generates positive cash
flow from its 720tpa Phase 1 plant, while an expansion to 1.2ktpa remains on
track for commissioning in Q2’22. ATM has also commenced various Phase 2
project workstreams, including exploration drilling, metallurgical testing and
discussions with third parties on required upgrades to water and power supplies.
The company is hosting an analysts’ site visit to Namibia next week in
conjunction with its upcoming listing on the Namibian Stock Exchange.

Removing theTa from the final tin concentrate should produce a purer tin product for sale and also capture the value of the Ta which currently goes with the tin and may well be separated elsewhere ( by the smelter?), yielding nothing to ATM. All for the cost (£300k) of a big electromagnetic. It’s an important part of driving the cost base of tin production down to almost zero, so a valid part of the plants future economics. And could be in place before end Q2.

Should hear more by 2nd week March, Q4 production report and also progress on phase 1 ramp up + byproducts. Revenue numbers shd be v strong given recent spot price of tin..

Indonesian government suspends 1,000 mining operations in hit to tin and coal supply
• The Minerals and Coal directorate of the mining ministry has ordered 1000 miners to suspend operations, Reuters reports.
• The document suggests the miners failed to submit key 2022 work plans.
• An official in the department stated that ‘the companies had been given a warning but still have not submitted the 2022 plan.’
• Indonesia is the second largest tin producer in the world at c.80kt per annum.
• Tin prices have risen to $43,455/t.