TIDM1SN
RNS Number : 7021H
First Tin PLC
08 April 2022
8 April 2022
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First Tin Plc
("First Tin" or "the Company")
First Day of Dealings
First Tin, a tin development company with advanced, low capex
projects in Germany and Australia, is pleased to announce the
admission of its ordinary shares ("Ordinary Shares") to trading on
the Main Market of the London Stock Exchange with a standard
listing at 8.00 a.m. under the ticker "1SN" ("Admission). The ISIN
of the Ordinary Shares is GB00BNR45554.
The Admission follows a subscription, institutional placing and
retail offer via PrimaryBid which raised in aggregate GBP20 million
(before expenses) at a placing price of 30 pence per share.
The funds raised for the Company will be used to rapidly develop
two tin projects in Germany and Australia before the end of 2025,
so that it can provide provenance of supply to support the current
global clean energy and technological revolutions.
First Tin Highlights:
Experienced Board and management team:
-- First Tin is led by renowned global tin specialists with over
150 years of experience in tin exploration, development, mining,
processing and commercialisation. All of which are focused on
corporate governance, ESG and aligning shareholder and stakeholder
interests
100% ownership of two advanced, low capex tin development
projects:
-- First Tin's assets are located in low-risk, conflict-free
jurisdictions of Germany and Australia. These Tier 1 assets are
located near good infrastructure, with established reserves and
simple mineralogy creating a quick path to production. Both assets
also have active mining licenses granted over them. Together the
assets represent the 5(th) largest undeveloped tin reserve
globally, outside Russia, Kazakhstan and the Democratic Republic of
Congo
Compelling CAPEX versus NPV Ratio:
-- According to recent third-party studies, the combined
development CAPEX of both projects totals c. US$125m compared to a
combined NPV8 for both projects (at US$40,000 tin) of c.US$771m.
The post money market cap of First tin after the GBP20m fundraise
will be approximately GBP80m
Potential for immediate value to be created through achievement
of near-term development milestones ahead of sustainable production
and processing by 2025
-- Development studies will be completed over the next 18 months
with production forecast in 2025. Recently completed third party
studies have demonstrated robust economics at materially lower tin
prices than are in existence today
Well positioned to take advantage of a growing market:
-- Global demand for tin has significantly increased in recent
times driven by the global clean energy and technological
revolutions. Given the very low physical inventory levels currently
sitting at the London and Shanghai metal exchanges coupled with
significant supply challenges being faced by leading tin producing
countries such as Myanmar and Indonesia, the macro-outlook for the
tin market remains robust.
Providing assured provenance with a traceable, ESG compliant
supply of a critical raw material:
-- First Tin is committed to best-in-class environmental
responsibility with a 'leave no trace' philosophy including using
low carbon and low waste production methods. An independent ESG
Digbee Audit is already underway to independently verify and score
First Tin in this area.
Defined long-term vision:
-- To become a leading global tin producer that supplies fully
traceable and verifiable tin units into fast-growth global
industries which have a high requirement for tin
Thomas Buenger, Chief Executive Officer, commented:
"We are very pleased with the level of interest generated from
new investors in support of our IPO. This is an exciting milestone
for the Company and we welcome our new and supportive shareholders
alongside us in our growth journey.
"First Tin is deeply committed to our mission of supplying a
sustainable answer to the global supply shortage many industrial
users of tin are currently facing and we very much look forward to
accelerating this process with the benefit of our Admission to the
Main Market. We are now well placed to create near term value for
our investors through low-capex development work to advance two
assets towards production before the end of 2025."
Enquiries:
First Tin Via SEC Newgate
below
Thomas Bunger - 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 / 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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