AfriTin Mining Ramps Up Lithium Development To Become A Major Player

• Tin Production and Revenue: ATM is a leading tin producer listed on AIM and is soon transitioning into becoming one of the few listed lithium producers. The production of tin has doubled recently, generating revenue.
• Shift to Lithium: The company has vast reserves of lithium that they were discarding as they mined tin. Recognizing the value of lithium, especially in the Electric Vehicle (EV) revolution, they have started harnessing this resource.
• Infrastructure and Economics: The company is testing and tweaking the process for lithium production. They have secured a concentrate and are working to produce it at a larger scale, with the first large-scale concentrate expected in the upcoming January or February.
• Funding and Expansion: ATM recently raised $50 million, partly in equity and through Orion Mining Finance. This fund is earmarked for advancing the lithium pilot phase and extending drilling operations. The financing has left the lithium side unencumbered, opening potential for prepayment or further financing options.
• Future Plans: In the upcoming year, ATM aims to upgrade their lithium resources, produce a bulk sample for sale in Q1, and implement a larger pilot phase by Q2. They are also looking at the possibility of delving into the hydroxide sector with the right technology partner.

About AfriTin Mining

AfriTin Mining is an AIM-listed company that is transitioning from being one of the largest tin producers in Africa to becoming a major lithium producer. The company operates in Namibia and has a central processing facility along with multiple licenses for lithium and tin deposits. AfriTin has an experienced management team that has successfully built and operated two large mining projects over the past 5 years. The company currently produces tin concentrate and will soon be producing lithium concentrate as well.

Interview with Anthony Viljoen, CEO of AfriTin Mining Ltd.

Lithium Production Ramp Up On Track

In a recent interview, AfriTin CEO Anthony Viljoen provided an update on the company's lithium ramp up. He confirmed that AfriTin has been able to produce a lithium concentrate from its deposits that it will be able to sell. The company will have its first large-scale lithium concentrate ready by January or February 2023. This initial concentrate will be sent to conversion facilities around the world for testing to determine the best partners for AfriTin to work with.

Viljoen noted that hard rock lithium has only been mined for the past 6 years, so there is still much to be learned. By starting with a lithium concentrate, AfriTin is going for the simpler early stage production rather than attempting to produce lithium hydroxide initially, which is more complex. The company may look to move into hydroxide production eventually, but is focused on getting the initial concentrate production right first.

Strong Financial Position

AfriTin recently completed a $50 million funding round, which was approximately half equity and half debt. Importantly, the lithium assets remain completely unencumbered by any debt. This provides the company with significant financial flexibility for lithium prepayments or other strategic financing options in the future.

The new funding will advance AfriTin's lithium operations through the pilot stage and into initial production. It will also support expanded drilling and exploration of the company's other highly prospective lithium and tin licenses.

Major Milestones Ahead

Some key milestones investors can expect from AfriTin in the coming months:

• Q1 2023: Upgraded lithium resource from Inferred to Measured and Indicated status. This will substantially derisk the deposits through additional drilling.
• Q1 2023: First saleable bulk sample of lithium concentrate produced.
• Q2 2023: Implementation of larger-scale lithium pilot plant. This will demonstrate that the process works at scale.
• Ongoing tin production ramp up, nearly doubling output.

Attractive Lithium Assets

Beyond its current lithium project, AfriTin has extensive additional lithium licenses that CEO Viljoen describes as "probably as exciting if not more exciting" than many other emerging lithium miners. The company's assets have major advantages like desalinated water, solar power potential, and easy logistics for exports.

AfriTin is also adding key talent, recently hiring an executive with experience selling a lithium project for $500 million to lead their business development efforts.

Conclusion

With tin revenues already coming in the door and lithium production ramping up quickly, AfriTin Mining presents investors with a unique opportunity. The company is on track to transition from a single commodity tin producer into a major diversified lithium and tin producer in a stable mining jurisdiction.

The upcoming milestones in early 2023 will be catalysts for the company to demonstrate execution and substantially derisk its lithium assets. For investors looking to gain exposure to the lithium boom, AfriTin offers an attractive option that is much further along the development path than many aspiring lithium juniors.