UK's First Tin eyes Australia's Taronga project

摘要

UK-based First Tin has entered into a sales and purchase agreement with Australia's Aus Tin Mining to acquire the Taronga tin project in New South Wales to expand its portfolio of tin development projects. Subject to approval from Aus Tin shareholders and the completion of a ￡20mn-30mn ($27-40mn) capital raising by First Tin, First Tin will pay around A$34mn in shares and cash to acquire the project that has a mineral resource of 36.3mn t containing around 57,000t of tin. A pre-feasibility study has confirmed the project's viability at a tin price of $25,000/t.