vox markets & turner pope investments webinar
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Vox Markets & Turner Pope Investments Webinar
3 February 2021
DISCLAIMER
2
These presentation slides (the “Slides”) do not comprise an admission document, listingparticulars or a prospectus relating to AfriTin Mining Limited (“the Company”) or anysubsidiary of the Company, do not constitute an offer or invitation to purchase orsubscribe for any securities of the Company and should not be relied on in connectionwith a decision to purchase or subscribe for any such securities. The Slides and theaccompanying verbal presentation do not constitute a recommendation regarding anydecision to sell or purchase securities in the Company. The Slides and the accompanyingverbal presentation are confidential, and the Slides are being supplied to you solely foryour information and may not be reproduced or distributed to any other person orpublished, in whole or in part, for any purpose.
No reliance may be placed for any purpose whatsoever on the information contained inthe Slides and the accompanying verbal presentation or the completeness or accuracy ofsuch information. No representation or warranty, express or implied, is given by or onbehalf of the Company or its respective shareholders, directors, officers or employees orany other person as to the accuracy or completeness of the information or opinionscontained in the Slides and the accompanying verbal presentation, and no liability isaccepted for any such information or opinions (including in the case of negligence, butexcluding any liability for fraud).
The Slides contain forward-looking statements, which relate, inter alia, to the Company’sproposed strategy, plans and objectives. Such forward-looking statements involve knownand unknown risks, uncertainties and other important factors beyond the control of theCompany that could cause the actual performance or achievements of the Company to bematerially different from such forward-looking statements. Accordingly, you should notrely on any forward-looking statements and the Company accepts no obligation todisseminate any updates or revisions to such forward-looking statements.
The Slides and their contents are directed only at persons who fall within the exemptionscontained in Articles 19 and 49 of the Financial Services and Markets Act 2000 (FinancialPromotion) Order 2005 (such as persons who are authorised or exempt persons withinthe meaning of the Financial Services and Markets Act 2000 and certain other personshaving professional experience relating to investments, high net worth companies,unincorporated associations or partnerships, the trustees of high value trusts) andpersons to whom distribution may otherwise lawfully be made.
Any investment, investment activity or controlled activity to which the Slides relates isavailable only to such persons and will be engaged in only with such persons. Persons ofany other description, including those that do not have professional experience in mattersrelating to investments, should not rely or act upon the Slides.
The Slides should not be distributed, published, reproduced or otherwise made availablein whole or in part by recipients to any other person and, in particular, should not bedistributed to persons with an address in the United States of America, Australia, theRepublic of South Africa, the Republic of Ireland, Japan or Canada or in any other countryoutside the United Kingdom where such distribution may lead to a breach of any legal orregulatory requirement.
No securities commission or similar authority in Canada has in any way passed on themerits of the securities represented hereunder and any representation to the contrary isan offence. No document in relation to the placing of the Company shares has been, orwill be, lodged with, or registered by, The Australian Securities and InvestmentsCommission, and no registration statement has been, or will be, filed with the JapaneseMinistry of Finance in relation to the placing or the Company’s shares. Accordingly,subject to certain exceptions, the Shares may not, directly or indirectly, be offered or soldwithin Canada, Australia, Japan, South Africa or the Republic of Ireland or offered or soldto a resident of Canada, Australia, Japan, South Africa or the Republic of Ireland.
The Securities have not been, and will not be, registered under the United StatesSecurities Act of 1933, as amended (the “US Securities Act”) or with any securitiesregulatory authority of any state or other jurisdiction of the United States and may not beoffered or sold within the United States or to, or for the account or benefit of, any USPerson as that term is defined in Regulation S under the US Securities Act. The Companyhas not been registered and will not register under the United States InvestmentCompany Act of 1940, as amended. The Slides and their contents are confidential andshould not unless otherwise agreed in writing by AfriTin Mining Limited be copied,distributed, published or reproduced (in whole or in part) or disclosed by recipients to anyother person.
Company Overview & Market Backdrop
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ABOUT US: BECOMING THE AFRICAN TIN CHAMPION
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A tin mining company with a portfolio of production and near production tin assets in Africa
Uis Tin Mine – Namibia – Previously the worlds largest open cast tin mine
Nameplate tin concentrate production achieved at Uis for Stage I of Phase 1 during November 2020; nameplate production target exceeded
Total production for Jan-Nov 2020: 301 tonnes
5000tpa tin concentrate target for Phase 2 (~1% of the global tin supply)
Mokopane Tin Project – South Africa
London's ONLY pure play listed tin company
Continually looking to build our portfolio with additional assets in Africa
Experienced Management team
From listing on AIM to first production in two years
Well placed to benefit from the tin supply shortage
Potential for the production of multiple battery metals, with huge tantalum and lithium by-product upside potential under investigation at Uis
LONDON’S ONLY PURE-PLAY TIN LISTING
5
STRATEGICPRINCIPLES
STRATEGICOBJECTIVES
2021
Scalable
Large mining licence area with over 180 mineralised, outcropping pegmatites within
5km of the existing pilot plant
The right commodity
Sound market fundamentals, supporting stable commodity price outlook
Low cost curve
First quartile cash-cost curve for Phase 2
Early productionPhased development approach allows for early cash flows, while significantly de-risking Phase 2
Phase 1 Stage 2 Expansion PHASE 1 CONTINUOUS IMPROVEMENT
PROJECTS IN PROGRESS
IDENTIFY AND EXPLORE ADDITIONAL TIN OPPORTUNITIES
ACHIEVE STEADY STATE PRODUCTION
ENVIRONMENTAL, SOCIAL AND GOVERNANCE
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AfriTin Mining is currently working towards compliancy with the International Finance Corporation’s Performance Standards and is aiming to obtain its Conflict Free Certificate. Best practices are implemented wherever possible.
AfriTin Mining complies with all applicable safety, health & environmental laws in addition to our own company policies and requirements. We strive to use resources sparingly so as to reduce the impacts of our operations on the environment, stakeholders and surrounding communities.
PERFORMANCEPEOPLEPLANET INTEGRITY
Economic Support
Close to N$200M has been spent in the development of the Uis Tin Mine
Majority of this expenditure has occurred in Namibia
Health & Safety of workers
All permanent staff at the Uis Tin Mine are Namibian citizens
Employing from within the local community wherever possible
Supporting the local economy by supporting local accommodation, stores and restaurants
Businesses have opened in Uis and substantial developments have occurred
Occupational Health and Safety (OHS) policies and procedures are in place
Safety is reemphasised daily through safety talks and shares
H&S risks are assessed, controlled, mitigated and monitored
Social Development Sponsoring of local soccer teams Co-sponsorship of a borehole drilled
in the Ugab River to provide water to wildlife
Purchasing of tin mined by artisanal miners operating in the mining licence
Sponsoring the 2020 Rhino Run and Ride in support of The Rhino Trust of Namibia
Economic contribution in NamibiaEnsuring compliance to the Operations
Environmental Management Plan (OEMP) through monthly monitoring of: Dust fallout Surface water quality Static borehole water levels Onsite Safety, Health and
Environment (SHE) field auditsMonthly monitoring allows for identification and mitigation of SHE impacts in a timely manner.
Monthly Monitoring
Pollution Control & Prevention Waste rock is co-disposed with
tailings on existing waste rock dumps Good housekeeping practices are
encouraged A hydrocarbon spill management plan
has been implemented onsite
We seek to gain competitive advantage through sound, ethical and legal practices.
Protection of our People
Stakeholder Engagement
Commitment to respecting labour & human rights
We believe in a diverse & inclusive working environment
Zero-tolerance policy for any form of harassment or bullying
Commitment to transparency & open communication
Uis Tin Mine has not identified any stakeholder engagement risks
The community is supportive of the Uis Tin Mine
TIN MARKET FUNDAMENTALS
7
Market overview Tin is the glue of the technology revolution
~40% of all tin consumed as solder in semiconductors and circuitry Current global shortage of semiconductors driving the demand for tin in
an already constrained supply market
Tin is predicted to be the metal most positively impacted by the development of future technologies and ‘the Internet of Things’, including energy-generation and energy-storage devices
Tin, tied with copper, is the best LME performer in the first half of 2020
Refined tin demand currently outpaces supply (000t) - ITA
Salt
PGM…
Zinc
Niobi…
Graph…
Vana…
Tungs…
Gold
Nickel
Silver
Cobalt
Lithium
Tin
AV/EV
Robotics
Renewables
Oil & Gas
Energy Storage
IT
Other
Commodity demand in the electrical contact and battery materials markets - MIT
Supply Shortage Tin market has faced a consistent supply deficit over recent years, forecast
to remain in deficit until 2022. Shortages due to: Covid-19 production cuts
Production cuts from several Chinese smelters
Closure of Chinese production plants in Yunnan
Reduced exports from Myanmar, uncertainty surrounding Myanmar coup
Environmental and regulatory hurdles in Indonesia
Depleting resources and grades from Latin America supply
Ample opportunities for growth in the market which will serve to exacerbate the existing demand-supply gap
TIN MARKET FUNDAMENTALS
8
International Tin Association reporting demand could triple by 2050
The tin price has recovered to pre-COVID-19 levels, topping US$24 000/t – the highest since 2014
Semiconductor industry is one of the biggest consumers of solder Global demand for semiconductors has a significant effect on the
tin price due to the development of smart devices.
Demand for semiconductors set to increase with the uptake in the 5G market, necessitating the development of new technology
Future Trends Increases in tin demand have historically coincided with
technological advances
Refined tin consumption of c.340-370ktpa makes it a relatively small market
Major tin demand comes from electronic solder, chemical and tin plate use
- ITA
- Business Insider Markets
Tin Price (US$/t) at 02/02/2021TIN PRICE
TOPS US$24K
HUGE BY-PRODUCT UPSIDE POTENTIAL
9
Tantalum Roskill forecasts global demand will by
grow by 4 - 5% pa between 2018 and 2028
Market driven by use in capacitors, tantalum chemicals, alloy additives, sputtering targets, mill products and cemented carbides
Lithium Lithium market continues to be buoyed
by the Li-battery market
Consumption forecast to increase for all additional Li uses
Key factors driving demand: accelerating demand for EV, Increased usage and demand for portable consumer electronics, increased demand from the glass-making industry.
Forecast global consumption of tantalum by application,
2018-2028 (tonnes Ta) – Roskill Forecast year-end tantalum pentoxide nominal prices, 2019-2028 (US$/kg Ta2O5) – Roskill
World Forecast Consumption of Lithium by Use 2010-2025 (t LCE) – Roskill
Projects
10
MAJOR AFRICAN TIN PROVINCES
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AfriTin’s portfolio includes an interest in a number of mining and exploration areas across Southern Africa
Tin Provinces of Africa
AfriTin assets Sn, Li and Ta
Bushveld Complex, South Africa
Erongo Region, Namibia
Mining Licences
Uis: ML134
C1/B1: ML 129
Nai-Nais: ML133
Exploration Licences
Brandberg West: EPL5445
Goantagab: EPL5670
Prospecting Rights
Mokopane Tin
2205PR
2371PR
NAMIBIAN ASSESTS – A REGIONAL FOOTPRINT
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Historical mining footprint only a fraction of existing licence areas in a proven tin province. AfriTin aims to expand the company's footprint across the region.
SOURCE: GOOGLE EARTH Brandberg West: Exploration licence EPL5445 covering 30 089 Ha
Historically producing tin-tungsten deposit from the 1940’s - 1980’s, owned by SWACO, a Goldfields subsidiary
First stage of geological modelling using historical information complete, exploration programme planned for 2021 to confirm mining potential of tin, tungsten and copper
Goantagab: Exploration licence EPL5670 covering 18 950 Ha
Uis: 3 fully permitted mining licences: ML134 (the location of current mining activity), ML129 and ML133, with a combined coverage of 27 860 Ha
EPL5445
EPL5670
ML134
ML129
ML133
ROM Stockpile
Store
Workshop
Main Reservoir
Backup generators
Primary Crusher
Primary Stockpile
Secondary Crushing Plant
Concentrate Store
Spiral Plant
DMS 1
Filter Press
Plant Discard
ThickenerGrits Dewatering
DMS 2 & DMS 3
Offices
Diesel Storage
UIS – FLAGSHIP ASSET
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HISTORIC (CIRCA 1989)
CURRENT
Historically the largest hard-rock tin mine in the world Operating in excess of 3 decades
Historic production rates of ~1 500 tonnes Sn concentrate per annum
Large scale, conflict-free deposit located in mine friendly Namibia Mining licences in place
Tin mineralisation complimented by significant by-product potential including Lithium
Tantalum
Rare earth elements (REE’s)
2 phase multi-commodity development plan Phase 1: Stage 1 plant fully operational, nameplate capacity
achieved
Phase 2: Studies in progress
PROGRESS AT UIS
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Achieved a globally significant JORC-compliantmineral resource estimate (MRE) for V1 and V2 95,539t of tin 6,091t of tantalum 450,265t of lithium oxide
Construction of processing plant completed
Nameplate tin concentrate production achieved at Uis for Stage I of Phase 1 during November 2020
Offtake agreement signed with Thaisarco 18 successful shipments to date
Robust Phase 1 economics confirm the significance of the pilot mining and processing facility as a full-scale commercial operation
GEOLOGICAL MODEL
15
141 drill holes over V1 V2 pegmatites Multiple mineralised pegmatites mapped
Historical IMCOR drill data for V1 and V2 pegmatites has been validated by AfriTin’s Phase 1 exploration programme, allowing incorporation into geological modelling
141 drill holes along a 25m grid spacing utilised for high resolution modelling Phase 1 weighted averages used for pegmatite
intersections
V1 and V2 pegmatite intersections occur at depth
Drill data shows significant down dip thickening of the ore body compared to surface outcrop
3-D geological model completed and a JORC compliant resource declared Utilised for block modelling and mine design
UIS JORC-COMPLIANT MINERAL RESOURCE ESTIMATE
16** Metal refers to Li2O
Globally significant maiden resource Drill results validated the historical exploration data generated by ISCOR subsidiary IMCOR, allowing an additional 141 drill holes to be incorporated into
the mineral resource estimate
Ancillary elements analysed during the drilling campaign confirmed Ta and Li by-product potential
The ancillary elements reported as part of the inferred mineral resource as the minerals were not sampled for in the historical ISCOR data
The maiden resource is comprised from only one of the 12 existing pits (covering 16 pegmatite bodies) at Uis, namely V1V2 Total tonnes of ore reported in the JORC compliant MRE for V1V2 pegmatite body alone is greater than that reported for the historic reserve estimate over 16 historic
pegmatite bodies
*SRK report declared reserve estimate in 1989
Historical Non-JORC Complaint Reserve Estimate* for 16 Uis pegmatite bodies
Proven Probable TOTAL
Commodity Sn Sn Sn
Grade 0.136% 0.135% 0.136%
Tonnes of Ore
48 426 800 21 896 900 70 323 800
Contained Metal (t)
65 860 29 561 95 421
MRE of Tin within the V1 and V2 Pegmatites (Cut-off Grade 0.05% Sn)
MRE of Ancillary Elements within the V1 and V2 Pegmatites
Measured Indicated Inferred TOTAL Inferred Inferred
Commodity Sn Sn Sn Sn Li2O Ta
Grade 0.139% 0.136% 0.130% 0.134% 0.63% 85 ppm
Tonnes of Ore 21 540 000 13 050 000 36 950 000 71 540 000 71 540 000 71 540 000
Contained Metal (t)
29 899 17 765 47 875 95 539 450 265** 6 091
EXPLORATION UPSIDE
17SOURCE GOOGLE EARTH
Concurrent exploration programmes are targeting higher grade pegmatites with low stripping ratios
Regional mapping programme completed on surrounding pegmatites Visual confirmation of cassiterite mineralisation for over
180 pegmatites within 5km of processing plant
Detailed mapping programme identified higher grade greisenised areas within mineralised pegmatites
Ore bodies are up to 80m thick and over 1km along strike
67-meter intersection of the W17 pegmatite, south of mining area, displayed visible cassiterite grains over the entire intersection
Historical pits mined on outcropping pegmatite, over 12 existing pits, these comprise historical SRK reserves (1989)
MINING
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Mining operations over the V1 and V2 pegmatites were established in May 2019
Conventional open pit mining methods, with a truck and excavator mobile equipment combination utilised
The combined mine plan delivers 2.75 million tonnes (represents 3% of the historical resource) of pegmatite at an average overburden stripping ratio of 1:1.5 to ensure exposure of ore in the long-term
Mine design, at 0.5 Mtpa RoM, provides sufficient inventory to supply Phase 1 processing plant with ore for more than 5 years, with the V1 and V2 pegmatite ore bodies supporting mining production rates far beyond the current requirements
Mine design exploits outcropping pegmatites and excavations of the historical Uis mine
V2 Pegmatite
Hanging Wall
Person for Scale
Section: V2 Pegmatite
V2 Pegmatite
Phase 4
Phase 1
Topography
900 amsl
850 amsl
800 amsl
Section: V1 Pegmatite
V1 Pegmatite
Phase 5Phase 2
Topography800 amsl
750 amsl
700 amsl
METALLURGY
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Coarse grained cassiterite crystals allowing for easy liberation through crushing
Efficient pre-concentration with dense medium separation (DMS) produces 80% waste rejection at high recoveries
Large material density differentials (cassiterite > 5.0 g/cm3, gangue 2.7 g/cm3) allowing for efficient dense medium and gravity separation
Tantalum mineral associated with the tin concentrate
Preliminary lithium test work indicates potential for lithium by-product. Further test work planned
Plant design targets: Sn recoveries >60% at concentrate grades of
60% Sn
Ta recoveries >15% at a concentrate grade of 22% Ta
Li recoveries >28% at a concentrate grade of 4% Li
2O
PROCESS FLOW DIAGRAM
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De-Watering
ROM
VGF and Primary Crushing
Stockpile
2° - 4°Crushing
and Screening
Rougher Spiral
De-Sliming
Pre-Wash 1
DMS 1 Pre-Wash 2
Pre-Wash 3
DMS 2
DMS 3Mids Re-
Crush
Scavenger Spiral
Fine Shaking
Table
Thickener
LIMS WHIMS
Sn-Conc
CGM-Conc
Waste Filter-Press
Concentrate Filterpress
Product Re-
Crush
Product Shaking
Table
Waste Handling
173 TPHSn 0.14%
80 TPHSn 0.14%
80 TPHSn 0.14%
67.4 TPHSn 0.14%
28 TPHSn 0.32%
39.4 TPHSn 0.02%
25.2 TPHSn 0.32%
24.6 TPHSn 0.08%
0.55 TPHSn 9.61%
2.8 TPHSn 0.32%
24.6 TPHSn 0.08%
12 TPHSn 0.08%
0.08 TPHSn 6.12% 0.08 TPH
Sn 59%
0.63 TPHSn 9.61%
0.55 TPHSn 5.59%
0.11 TPHSn 59%
4.6 TPHSn 0.13%
0.1 TPHSn 60%
4.1 TPHSn 0.13%
0.7 TPHSn 2.30%
0.04 TPHSn 56.5%
24 TPHSn 0.03%
0.1 TPHSn 0.03%
0.7 TPHSn 3.57%
0.2 TPHSn 1.35%
23.5 TPHSn 0.04%
0.5 TPHSn 4.59%
24 TPHSn 0.12%
4 TPHSn 0.13%
12.6 TPHSn 0.08%
28 TPH Sn 0.13%
INFRASTRUCTURE
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Power supply Formal (10 year) supply agreement concluded with Namibia Power
Corporation:
Provides for the full on-site power requirements for Phase 1 mining and processing facility from the national grid
AfriTin constructed its own substation to transform the supply to medium voltage (11 kV) and installed a miniature substation to distribute power at 400 V in the processing plant
Significantly more cost effective than diesel generated power
Supply voltage of 66 kV
Supply capacity of 1.5MVA
Diesel generators currently in place to serve as backup power to the grid
Water supply Geohydrological study, water drilling and test pumping completed
Process water requirements are supplied from well fields and open-pit lake areas in the surrounding mining area AfriTin is fully permitted for water abstraction from boreholes (groundwater
not potable but is suitable for use as plant water)
Regional investigations for additional groundwater resources have commenced
UIS PHASE 1: PROCESSING PLANT EXPANSION
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Ore feed: 80tphTin feed grade: 0.139% SnTantalum feed grade: N/ALithium feed grade: N/ATin recovery: 60%Tantalum recovery: N/ALithium recovery: N/ATin conc. grade: 60% SnTantalum conc. grade: N/ALithium conc. grade: N/A
Ore feed: 120tphTin feed grade: 0.139% SnTantalum feed grade: 85ppmLithium feed grade: N/ATin recovery: 60%Tantalum recovery: 15%Lithium recovery: N/ATin conc. grade: 60% SnTantalum conc. grade: 22% Ta2O5
Lithium conc. grade: N/A
Ore feed: 120tphTin feed grade: 0.139% SnTantalum feed grade: 85ppmLithium feed grade: 0.63% Li2OTin recovery: 70%Tantalum recovery: 30%Lithium recovery: 28%Tin conc. grade: 60% SnTantalum conc. grade: 22% Ta2O5
Lithium conc. grade: 4% Li2O
Ore feed: 120tphTin feed grade: 0.158% SnTantalum feed grade: 85ppmLithium feed grade: 0.63% Li2OTin recovery: 70%Tantalum recovery: 30%Lithium recovery: 28%Tin conc. grade: 60% SnTantalum conc. grade: 22% Ta2O5
Lithium conc. grade: 4% Li2O
• Pilot plant construction completed• Ramp-up to nameplate capacity
completed
• Increase throughput capacity • Addition of a tantalum by-product
• Increase tin recovery• Addition of petalite by-product• Initial lithium test work complete
• Expansion of tin and tantalum concentrate production
AfriTin plans to increase the production capacity of the Phase 1 processing plant beyond the current Stage I. This will occur in three distinct steps (Stages II-IV). A BFS has begun on a Fast-tracked Stage II.
Stage I Stage II Fast-Tracked Stage III Stage IV
UIS PHASE 2: LONG TERM DEVELOPMENT PLAN
23
Objectives
Leverage the production profile of Phase 1 in order to expand the operations of the business
Large-scale operation producing at least 5000 tonnes of tin concentration, representing ~1% of the global tin supply
Identify further mineralised pegmatites within project and regional area
Growth of portfolio through acquisition in country and elsewhere in Africa
Revenues in excess of US$100M in 5 years
EXPOSURE TO A MAJOR TIN ASSET OF GLOBAL SIGNIFICANCE
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Clear development timeline with catalysts for value creation: Fully permitted operation Production commenced August 2019 Nameplate capacity reached Phase 1 Stage I production target exceeded V1 V2 resource JORC-compliant Robust Phase 1 economics
Junior mining company that delivers Strong geological potential from a
historically producing mine Multi-commodity optionality A stable mining investment jurisdiction Strong medium-term demand for tin
underpinned by growing applications in new technologies
Appendices
25
26
Chris SmithGeneral Manager Qualified in Chemistry and 36 years’ experience at various levels of management
for several Listed Companies Experienced General Manager with strong process optimization, team
development and sustainable track record
Glen ParsonsChairman CEO of Mariana Resources from 2010 until its sale to Sandstorm for $175m in
July 2017 20+ years’ experience both as a mining executive and in investment banking
Anthony ViljoenCEO Mining entrepreneur – over 2 decades operating in Africa Founding director and former CEO of Australian listed Lemur Resources Successfully founded and directed Bushveld Minerals (AIM: BMN). Non-executive director at Bushveld Minerals
Terence GoodlaceNon-executive Director 40+ years’ experience in mining; currently NED at Gold Fields and Kumba Iron
Ore Limited Previously Gold Fields COO, Metorex Limited CEO, Impala Platinum CEO
Laurence RobbNon-executive Director Professor of Economic Geology and Director of the Economic Geology Research
Institute, University of the Witwatersrand’s School of Geosciences Technical Director of Lerama Resources
Frans van DaalenCOO Qualified mining engineer with 20+ years’ operational and technical
experience Co-founder and director of VBKom
Machiel OdendaalLead Engineer Qualified electrical engineer with 40+ years’ experience and Chief
Engineer at various mining operations in Southern Africa
Timothy MaraisExploration Manager Qualified exploration geologist with over 10 years’ experience Worked on multiple commodity projects across Africa – focus on project
development, management and near-term value realisation
Jan RabeLead Process Engineer Qualified metallurgical engineer with 18 years’ experience, Jan has fulfilled
various technical management roles
Rob Sewell CFO Chartered Accountant CA(SA) with 15 years commercial and financial
experience across various industries Completed training at Deloitte in Johannesburg and gained international
experience during a secondment to Deloitte Sydney office
Experienced and invested Board & Management team:
Team
UIS – ASSET HISTORY
27
Discovery of the asset.
Asset is acquired by Mr Angus Munro; Uis Tin Mining Co (SWA) is established and
large-scale mining commences.
IMCOR acquires the asset and installs a c. 35tph tin recovery
plant to produce cassiterite concentrate.
IMCOR enlarges the plant to c. 100tph and commenced building the village of Uis.
Imcor enlarges the plant to c. 140tph producing c. 100-120 tpm
cassiterite.
Uis Tin Mine closes following the tin price
collapse in the mid-1980s.
SRK publishes a ‘LoM Plan Report for 1989-2063’*. These were historical estimates that were
not reported to any recognised minerals industry reporting code.
Greenhills (Bushveld subsidiary) purchases
85% stake from AfriTin Mining Namibia1.
1 Was renamed to AfriTin Mining Namibia in January 2019 (between 2014 and 2016 the entity was called Dawnmin Africa Investments)
2017 AfriTin lists on AIM with Uis as its flagship asset
2016
1911 1958 1966 19801948/51
1990
1989
A new dawn for Uis
NAMIBIA: A STABLE INVESTMENT JURISDICTION
28
Road between Uis and Walvis Bay
Walvis Bay Port upgrade completed
Complimentary mining and exploration jurisdiction with a developed transport infrastructure
Stable democracy with an independent, strong legal system
Country encourages foreign investment
Long established Mining Act – mining law in Namibia is mainly regulated by the Minerals Act 33 of 1992 which was amended in 2008
Mining is the biggest contributor to Namibia’s economy in terms of revenue and consequently, an important industry
Fraser Institute lists Namibia No. 60 globally in terms of investment attractiveness and No. 36 globally in policy perception. *Corruption Perception Index 2018
5th most transparent country in Africa
Access to the mine is via a regional network of roads which are well maintained by the Namibian government
The newly upgraded port of Walvis Bay serves as the point of export for the company’s mining products
OTHER ASSESTS: SOUTH AFRICA
29
Mokopane Tin Project – located on the northern limb of the Bushveld Complex
Prospecting right 2205PR covering six farms (13 253 Ha)
Prospecting right 2371PR covering three additional neighbouring farms (awaited)
Four targets identified, exploration conducted on two targets to date, with 18 447 tonnes contained Sn resource established
Scoping Study completed October 2014
Base case RoM of 691ktpa to produce ~700tpa of 99.5% Sn purity metal, yields positive economics with a significant IRR of 34.6%
Low quartile operating costs: $14,276/tonne of tin metal produced (as of 24 September 2014)
Potential additional 5,000 tonnes contained Sn resource in the underground lease target area
Greenhills interest = 74%, 26% held by local Black Economic Empowerment partners
30
Anthony Viljoen, CEOinfo@afritinmining.comwww.afritinmining.com
Registered office18 – 20 Le PolletSt Peter Port Guernsey
Representative office2nd Floor, Building 3Illovo Edge Office ParkCorner Harries & Fricker RoadIllovoJohannesburg, 2116South Africa
55 Baker streetMarylebone
LondonW1U 7EU
United Kingdom
Investor Relations – UK1 CornhillLondon
EC3V 3NDUnited Kingdom
+44 (0) 20 7920 3150
Broker8 Frederick’s Place
London EC2R 8AB
United Kingdom
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