AfriTin Mining posts inaugural annual loss of £1.5m

Writer, Stock Market Wire
Friday, July 13, 2018 - 14:51

Tin miner AfriTin Mining posted an inaugural annual loss of £1.5m, as it continued to progress its flagship Uis mine in Nambia towards pilot production.

The company raised IPO proceeds of £4.5m in November and claims to be the first pure-play tin miner listed in London.

Its accounts were filed for the period between 1 September 2017, when it was incorporated, and 28 February 2018.

'Through our successful IPO and the accessing of global capital markets we have been able to achieve the successful implementation of our stated objective of being in production within one year,' chairman Glen Parsons said.

'There is a widespread view in our markets that we may see a reduction in global tin supply and, as a group, we believe that we will be able to take advantage of this global deficit.'

At 2:51pm: (LON:ATM) Afritin Mining Limited Ord Npv share price was -0.2p at 3.15p

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