First Tin PLC Critical metals grant from the NSW Government (6699H)
November 28 2022 - 2:00AM
UK Regulatory
TIDM1SN
RNS Number : 6699H
First Tin PLC
28 November 2022
28 November 2022
First Tin Plc
("First Tin" or "the Company")
Receipt of critical metals grant from the NSW Government
First Tin Plc ("First Tin"), a tin development company with
advanced, low capex projects in Germany and Australia, is pleased
to announce that Taronga Mines Pty Ltd ("TMPL"), an Australian
registered, 100% owned subsidiary of First Tin Plc ("First Tin"),
has been awarded a grant of up to A$494,038 by the Government of
New South Wales ("NSW Government") in Australia under its Critical
Minerals and High-Tech Metals Activation Fund ("Fund"). The grant
is a co-contribution for TMPL's NSW based Taronga tin project and
was announced by the NSW Deputy Premier, The Hon Paul Toole MP, on
Monday 21(st) November 2022.
The project involves four modules:
1. Innovative Processing Techniques: This includes mineral
processing testwork on a bulk sample of Taronga tin mineralisation
collected earlier this year. This will be conducted at ALS in Perth
and Burnie and will be overseen by consultants Mincore and DFM.
2. Mineral Processing Plant Design and Costing: This will build
on Module 1 and will result in design and costing of the mineral
processing facility based on the flowsheet developed for Taronga in
Module 1. Work will be undertaken by consultants Mincore and
DFM.
3. Low-Cost Green Power Options: This will examine ways to
reduce power costs by using low carbon alternatives. In particular,
details of establishing a solar farm on the Company's large
landholdings in the district will be designed and costed.
4. On Site Smelting Option: This will include a detailed study
into the viability of building a smelting facility as part of the
project. If successful, this could result in an end product of
either tin ingots or solder bars being produced in NSW rather than
simply exporting a tin concentrate for treatment offshore.
These modules will collectively advance the Taronga tin project
toward completion of a definitive feasibility study.
First Tin CEO Thomas Buenger said, "We are delighted to announce
that we have been awarded this significant grant by the NSW
Government. It further demonstrates the support and commitment we
have from the Government and will help fund the ongoing feasibility
studies on this important tin deposit."
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 Communications)
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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END
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