AfriTin completes placing to raise £13-million to advance Uis

12th May 2021 By: Tasneem Bulbulia - Senior Contributing Editor Online

Aim-listed AfriTin Mining has completed the placing of 216.7-million ordinary shares through an accelerated bookbuild to raise £13-million.

“We are very pleased to announce today’s oversubscribed placing, which puts the company in a position to expedite the Phase 1 expansion of our flagship Uis tin mine, in Namibia, at a time of unprecedented high tin prices.

“The proceeds also allow us to further investigate the exciting, significant lithium and tantalum by-product potential we have across our extensive resource base, and further exploration on our regional assets.

“The tin market continues to perform well and we look forward to the added potential of these two by-products, which are becoming increasingly essential components in the new technologies industry,” says CEO Anthony Viljoen.