Commencement of DFS at Taronga

RNS Number : 6864U

First Tin PLC

03 August 2022

 

03 August 2022

First Tin Plc

("First Tin" or "the Company")

Commencement of DFS at Taronga

First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia , is pleased to announce that it has commenced the Definitive Feasibility Study ("DFS") at the Taronga tin deposit in Australia.

The DFS is being delivered by a consortium of Australian companies led by Mincore Pty Ltd ("Mincore"), which will undertake the project management and mineral processing. The consortium also includes:

· Australian Mine Design and Development Pty Ltd ("AMDAD") - mining studies & reserve estimation

· H&S Consultants Pty Ltd ("H&S") - resource estimation

· Pells Sullivan Meynink ("PSM") - geotechnical and hydrological

· ATC Williams - waste facility design

Mincore and its associates have undertaken feasibility studies throughout Australia, Southeast Asia, Papua New Guinea and the Democratic Republic of Congo, and have designed and built processing facilities for several tin projects worldwide.  It is expected that the study will be completed by mid-late 2023.

This work is being undertaken in conjunction with the ongoing environmental and permitting work being managed by RW Corkery Pty Ltd, designed to obtain all necessary statutory approvals by the end of 2023.

First Tin CEO Thomas Buenger said, "The DFS is a key workstream for First Tin, as we aim to rapidly bring the world-class Taronga project into production to provide provenance of supply. Mincore and its associates have extensive experience in the tin space. We look forward to providing updates as we deliver the DFS, ahead of completion next year. In tandem, we are also undertaking extensive drill programmes in both Australia and Germany, designed to define additional tin mineralisation in both countries, and we are fully funded to deliver all these value-enhancing workstreams."

Enquiries:

First Tin	Via SEC Newgate below
Thomas Buenger - Chief Executive Officer
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
Simon Catt	020 7389 5016
WH Ireland Limited (Joint Broker)
Harry Ansell	020 7220 1670
SEC Newgate (Financial PR)
Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton	07900 248 213

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

 

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