African tin miner AfriTin has secured additional financing by way of a placing and subscription to raise just over £3-million.
The majority of the placing is being subscribed for by existing shareholders.
Net proceeds of both the placing and subscription, in conjunction with its existing resources, will be used to underpin the company's existing banking facilities.
The funds raised will also be used to complete debottlenecking capital projects for the Stage I plant, used for the feasibility studies for the Phase 1 expansion, as well as general working capital purposes, at AfriTin’s flagship Uis mine, in Namibia.