In this article I'll have a closer look at African Minerals (OTCPK:AMLZF), a competitor of London Mining in the Sierra Leonese iron ore space. Just like London Mining, African Minerals is already producing and is ramping up its production rate to 20Mtpa which should be accomplished by the end of this year.
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I will discuss its Tonkolili project in the current form and the potential expansion to 35 million tonnes per annum to see if it would really be worth it to increase its production rate any further. I'll run some cash flow calculations. Thereafter I'll look at the potential risks which will result in my investment thesis at the end of this article....
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