Business
Quarterly Production Update
Quarterly Production Update.
About this update from Andrada Mining Limited
[{"type":"text","content":"\n \n \n \n 22 December 2022\n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.\n \n \n \n AfriTin Mining Limited\n \n \n \n (\"AfriTin\" or the \"Company\")\n \n \n Quarterly Production Update\n \n \n Record Production During November 2022 Following Plant Expansion\n \n \n AfriTin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, provides an unaudited quarterly production update for the Uis Mine (\"Uis\") for the third quarter (\"Q3\") ending 30 November 2022 of the 2023 Financial Year (\"FY2023\")*.\n \n \n Highlights:\n \n \n \n ·\n \n Commissioning of the expanded crushing and tin concentrating circuits completed during October 2022;\n \n \n \n \n \n ·\n \n Record tin production of 88 tonnes of concentrate (53 tonnes of tin contained) achieved during November 2022, equal to 88% of the expanded nameplate production capacity of 100 tonnes of concentrate per month;\n \n \n \n \n \n ·\n \n Operating unit cost for November 2022 was 14% lower than average monthly unit cost for H1 FY2023 ending 31 August 2022;\n \n \n \n \n \n ·\n \n Production ramp-up on track for completion by end of January 2023; and\n \n \n \n \n \n ·\n \n Lithium pilot plant and tantalum separation circuit under construction and on track for commissioning in Q2 2023.\n \n \n \n \n Anthony Viljoen (CEO) commented:\n \n \n \"We are extremely pleased with the production ramp-up performance of the expanded Uis Mine processing plant as evidenced by the November 2022 production which exceeded the target by 20%. We believe the expanded production capacity will significantly increase revenue and reduce unit costs, thereby improving the margin and sustainability of the operation.\n \n \n In addition, the Company is fast tracking the development of separate lithium and tantalum products alongside its existing tin production, with both a lithium pilot and a tantalum separation circuit under construction. We...