AfriTin Mining Listing
With the successful listing of AfriTin Mining Limited, on the AIM market of the London Stock Exchange, we have taken an important step towards establishing a significant African tin platform.
For Bushveld Minerals, the listing is a fulfillment of a promise made a few years back, in respect of its tin platform, to build a critical mass of tin resource inventory with a short path to production and subsequently set it up as a stand-alone tin pure play.
By distributing only some of the shares Bushveld held in the tin platform (Greenhills Resources) during the demerger of Greenhills Resources Limited into AfriTin Mining Limited, we were able to ensure AfriTin has a healthy liquidity made up of shareholders that have a positive experience with Bushveld and have an understanding and appreciation of not only the value of this asset, but also of our philosophy for delivering shareholder value. In addition, to demonstrate Bushveld’s continuing support in the now independent tin platform, the Company has retained a 17.48% shareholding in AfriTin
The GBP3.5 million raised had strong support from Bushveld Minerals and its long-term shareholders, as well as other institutional investors, particularly Miton and City Financial. I am confident this strong shareholder base will be supportive of the AfriTin management team as they proceed in developing AfriTin to a leading African tin platform.
We congratulate Anthony Viljoen, the management team and Board of AfriTin and the exceptional team of advisors that worked very hard to make this listing a success! We wish the team well as they embark on this journey, or rather as we embark on this journey going forward!
Tin is a special metal, most known for its applications in the electronics industry (as solder) but also with many uses in the metallurgical industry (as tin plate) and chemicals as well as the growing energy storage industry. Its demand profile is robust, the supply picture is constrained, something AfriTin will certainly take advantage of as it targets geographies with a known history of tin production. The Uis Project, in Namibia, with an existing mining license and pilot plant and thus a short path to production will no doubt be at the centre of AfriTin’s immediate focus!