18 Jan 2018 07:00
AfriTin Mining Limited
("AfriTin" or the "Company")
Directors Trading
AfriTin Mining Limited (AIM:ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, confirms that it has received notice that on 17 January 2018 Anthony Viljoen, a director of the Company, purchased 207,290 Ordinary Shares at a price of 2.4p per Ordinary Share, this brings Anthony's total holding in the Company to 2,723,942 Ordinary Shares representing 0.92% of the issued share capital of the Company and 0.92% of the total voting rights of the Company.
AfriTin Mining was formed earlier this year to take advantage of the global tin deficit and rising consumer demand and has a vision to create a portfolio of world-class tin producing assets.
AfriTin Mining's flagship asset is the Uis brownfield tin mine in Namibia, historically, the world's largest open cast hard-rock tin deposit. With engineering plans near completion, the Company currently plans to fast track the mine to production in 2018. Uis was discovered in 1911 and Iscor started production at Uis in the 1970s and ended in 1990 as a result of depressed tin prices. AfriTin Mining is expecting early cash flows to scale up production and expand the Company's footprint.
Commenting Glen Parsons, Chairman of AfriTin Mining, said: "As we have already stated, our vision is to become a fully-fledged, conflict free tin mining company. As part of our strategy we have a clear path to early stage production with the key elements already well underway. The admission to AIM has allowed us to raise sufficient capital to achieve this strategy and work towards consistent cash flows, in a positive tin price environment. I believe that having directors purchase shares in their own right is a testament to our belief in the strategy going forward. We are looking forward to 2018."
Summary of Directors Interests
A summary of all the Directors' interests in the Company is set out below:
Director | Number of Shares | per. cent |
Glen Parsons | 1,025,641 | 0.34 |
Anthony Viljoen | 2,723,942* | 0.92 |
Roger Williams | 641,025 | 0.22 |
Laurence Robb | 320,512 | 0.11 |
*This includes 516,652 Ordinary Shares pursuant to the Demerger Arrangement with Bushveld Minerals Ltd.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Anthony Viljoen | ||||
2 | Reason for the notification | |||||
a) | Position/status | Director, CEO | ||||
b) | Initial notification/ Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | AfriTin Mining plc | ||||
b) | LEI | · 213800FKOXWBL6JBVH90
| ||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument
Identification code | Ordinary share
GG00BD95V148 | ||||
b) | Nature of the transaction | Acquisition of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
207,290 2.4p | ||||
e) | Date of the transaction | 17 January 2018 | ||||
f) | Place of the transaction | XLON, AIM | ||||
Enquiries: info@afritinmining.com
AfriTin Limited | |
Anthony Viljoen (CEO) | +27 (11) 268 6555 |
Nominated Adviser and Broker | |
WH Ireland Limited Katy Mitchell Adrian Hadden James Sinclair-Ford
Joint Broker Beaufort Securities Limited Jon Belliss |
+44 (0) 207 220 1666
+44 (0) 207 382 8300 |
Financial Public Relations | |
Tavistock | |
Jos Simson / Barney Hayward | +44 (0) 207 920 3150 |
Notes to editors
AfriTin Mining's vision is to create a portfolio of world-class, conflict-free, tin producing assets and be the first pure tin company listed in London. The company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine. AfriTin is managed by a highly experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in 2018 ramping up to 5,000 tonnes of concentrate, and consolidation of other quality African tin assets. The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory and achieving production in the near term and further scaling production by consolidating tin assets in Africa.
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