Following on from a bumper year in 2021, Q1 production rose 13% quarter on quarter to 152 tonnes with record tin recovery of 67%, the company said.
The all-in sustaining costs for the three months was US$23,526 per tonne of tin, which was down 16% from Q4.
"This compares favorably with the realized average tin price of US$34,367 achieved for the quarter. The improvement in AISC can be attributed to higher tin production and operational efficiencies," AfriTin said.
"The strong performance of the tin operation provides a solid platform for developing potential lithium and tantalum by-product revenue streams," AfriTin's CEO Anthony Viljoen said.
"Our position as an operating, cash-generating mining company allows us to fast-track development of near-term opportunities, as well as expanding our production and product portfolio," he added.
AfriTin also noted that its Phase 1 expansion project is on track for completion in Q3. It's due to increase tin production by about 60%.
AfriTin's share price was down 5% day on day, having been seen trading at GBX6.14 on June 17.
