First Sales of Tin Concentrate from Granville Tin Project
Brisbane, Oct 6, 2017 AEST (ABN Newswire) - The Directors of Aus Tin Mining Limited (
ASX:ANW) are pleased to announce the Company has undertaken its first sale of tin concentrate from the Granville Tin Project under its off-take agreement with Traxys Europe (Traxys). The shipment, which was dispatched from Zeehan late yesterday afternoon, comprised approximately five tonnes of high grade tin concentrate assaying 62.7%Sn and will be used to pilot the logistics chain and commercial arrangements under the Traxys off-take agreement, and provide the receiving smelter with a "trial" parcel of tin concentrate ahead of future shipments.
Under the commercial terms of the off-take agreement with Traxys the Company will receive a provisional payment for 95 percent of the contained tin adjusted for treatment charges and penalties, with the balance calculated on receipt of final assays and weights from the receiving smelter.
Commenting on this significant milestone for the Company, CEO Peter Williams said "We are pleased to have dispatched the first shipment of tin concentrate from the Granville Tin Project and are delighted to be partnering with global metals trading house Traxys for concentrate sales. Notwithstanding some of the operational challenges experienced to date, this first shipment represents another step in the Company realising its vision to become a major Australian tin producer."
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About Aus Tin Mining Ltd
Aus Tin Mining Limited (ASX:ANW) has a vision to become a major Australian tin producer. The Company has recommenced production at the high grade Granville Tin Project located north of Zeehan (TAS) and the Company intends to expand the Granville Tin Project and undertake exploration to extend the Life of Mine. The Company is also developing the world class Taronga Tin Project located near Emmaville (NSW). The Company defined and announced its maiden JORC compliant resource for the Taronga Tin Project in late 2013 and test work and exploration activities on site have revealed potential credits for copper, silver, tungsten, molybdenum, lithium and rubidium. Highly prospective regional targets have also been established within the Company's broader tenement footprint, and within trucking distance of the proposed processing site at Taronga. Plans for a staged development of the Taronga Tin Project are in formation, together with the associated approvals processes. The Company also maintains an active exploration program. The Company holds a portfolio of exploration licenses prospective for nickel, cobalt and copper (Kilkivan QLD); and tin, copper, silver, tungsten and lithium (Torrington NSW).
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