From Tin Producer to Lithium Player: AfriTin Poised for Transformation in 2023

• AfriTin Mining (ATM) is transitioning from being a major tin producer to becoming one of the few listed lithium producers globally.
• ATM's expansion of its plant has doubled production, aiming for around 1500 tons of concentrate, with tin and lithium extraction.
• Lithium is a significant component within the pigmentites (ore deposits) mined by ATM and presents a new revenue stream.
• The company plans a major announcement and name change early in the New Year, highlighting the shift towards lithium.
• ATM aims to produce its first lithium concentrate on a larger scale by January or February, with a focus on integration, conversion facilities testing, and expanding its lithium offerings in the EV market.

About AfriTin Mining

AfriTin (ELM) has established itself as a profitable tin producer operating in Africa over the last several years. However, with its sizable lithium resources coming into focus, 2023 could prove transformative for the company as it pivots towards becoming a major player in the lithium space.

Interview with CEO Anthony Viljoen

Doubling Down on Tin Production

Originally founded as a tin producer, AfriTin has significantly expanded production of tin concentrate from its flagship project since May 2022. The expansion of the project's processing plant is now complete, nearly doubling capacity from an original 1200 tons to around 1500 tons of tin concentrate per year.

With the expanded plant now fully operational and funded through existing cash flows, tin will continue to provide a steady revenue stream for AfriTin. Tin prices may have cooled recently along with broader commodities, but with production scaled up, tin will remain an important contributor for AfriTin.

Leveraging Existing Infrastructure for Lithium

The big story for AfriTin, however, lies with its large lithium resources. Extensive test work is underway to find the optimal process for extracting lithium from the project's massive nearby pegmatite deposits.

A key advantage AfriTin has is the ability to leverage its existing tin processing infrastructure for lithium production. The company anticipates having a lithium concentrate sample ready for testing by global converters in Q1 2023.

If test results confirm a viable product, AfriTin can move ahead with integrating a lithium circuit into its central plant. With permitting and infrastructure for the site already in place, AfriTin can advance lithium production much quicker than peers still in the exploratory stage.

Funding Secured for Lithium Growth

To support its pivot towards lithium, AfriTin successfully raised $50 million in new capital during 2022. The raise was completed at minimal dilution to existing shareholders, with debt making up nearly half the total.

Critically, no royalties or encumbrances were placed on AfriTin's lithium resources. This leaves the company flexibility in securing future project financing or prepayment agreements with potential off-takers.

The new capital will accelerate lithium exploration and development in 2023. It also provides a buffer as AfriTin navigates the transition from pure tin producer into a diversified metals company.

Key Milestones to Watch

AfriTin has laid out an ambitious roadmap for its lithium plans in 2023:

• Q1 2023: Upgraded lithium resource estimate to add confidence for future development
• Q1 2023: First large-scale lithium concentrate sample for testing by global converters
• Q2 2023: Implementation of large lithium pilot plant to prove concept
• Ongoing: Exploration of additional prospective lithium pegmatites near existing infrastructure

Successful execution by the company's experienced project development team on these targets will be key steps towards full-scale lithium production.

Conclusion

AfriTin finds itself in a enviable position among junior miners. It already has cash flowing from its tin business, and is poised to enter the lithium space just as demand is soaring.

With lithium resources firmly under its control, AfriTin can scale up production faster than explorers starting from scratch. First mover advantage will be key, as many companies claim big lithium resources but lack concrete plans to develop them.

For investors, AfriTin represents a unique opportunity to gain lithium exposure with significantly derisked assets. The company's pivot in 2023 and beyond could generate substantial returns as AfriTin transforms into a diversified producer. The time to gain exposure is now, as AfriTin builds momentum on executing its lithium plans over the coming quarters.

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