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AfriTin completes detailed mine design – construction to start in May

AfriTin completes detailed mine design – construction to start in May

Mining company with the flagship asse, Uis Tin Mine, AfriTin Mining Limited this week in a press statement said it has completed a detailed mine design over the priority, V1/V2 pegmatites.

Following the completion of a mapping programme and construction of a 3-D geological model the Company has undertaken a detailed mine design for the V1 and V2 pegmatite bodies, previously identified as priority targets to supply feed to the new intermediary processing plant. The mine design includes an initial 5-year mine production schedule to commence operations on the outcropping pegmatite bodies and existing excavations of the historical V1/V2 pits.

This internal mine plan supports an overburden stripping ratio of less than 1 (overburden-to-ore ratio) and a fast ramp-up profile utilising conventional open pit mining methods. Material will be liberated through drilling and blasting; loading and hauling will be effected by combining excavators and articulated dump trucks. The run-of-mine feed to the Plant for this phase of development is planned at 500,000 tonnes per year with an anticipated annual production of 800 tonnes of saleable tin concentrate (although at this stage, this rate is not guaranteed). The target for the following phase remains 5,000 tonnes of tin concentrate per annum.

A plant location has been identified in close proximity to the V1/V2 pegmatite bodies. The site layout and project infrastructure is being finalised and earthworks and civil works construction are scheduled to commence during May 2018 with production on track for H2 2018.

Commenting on the developments CEO Anthony Viljoen said, “We are very pleased with the results of this early production phase Mine Design work that has recently been completed. Once operational we believe this will confirm the potential of the Uis Project as a world-class tin mine with low operational risks.”

“Whilst we believe Uis has the resources to be a long-life operation, this phased approach, should provide a platform for sustainable early cash flows. It should also de-risk the implementation of a larger scale mining and processing facility which in turn should allow us to progress long term project financing options,” he added.

Meanwhile, Viljoen said that they remain excited about the project progression and the long-term opportunity that AfriTin provides to investors in the world tin market.


 

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Musa Carter

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Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.