AFRITIN, a UK-listed tin exploration company, said it had bought the assets of Tantalum Investment for £850,000 through the issue of 25 million shares in a transaction that further consolidates the firm’s position in Namibia where it principally operates.
“This acquisition of Tantalum Investment is another positive step for AfriTin as we look to consolidate African tin assets and embark on a regional expansion drive in Namibia,” said Anthony Viljoen, CEO of Afritin in a statement.
The acquisitions were no more than 80km away from Afritin’s Uis mine, said Viljoen who added that whilst the company’s primary target was Uis, it would nonetheless begin early stage exploration of the licences.
“During a recent exploration program, on our new licences and in the surrounding area, we identified a number of anomalous geological targets,” said Viljoen. “Some of these targets had been mined in the past and we therefore believe in the overall potential of the Damaraland area, in Namibia,” he said.
