Consolidated Tin Mines (CSD) has delayed the completion of a Pre-Feasibility Study (PFS) on its Mount Garnet tin project in Queensland while it investigates a possible acquisition which might complement its plans. The company said in May that its cornerstone investor, Hong Kong-based Snow Peak International, would contribute A$3 million to fund the final stages of the PFS, which was due to be completed in Q3. The agreement also set out the basis for the formation of a 50:50 joint venture company to fund a substantial portion of the proposed process plant development costs.
In a statement CSD said: “The company is investigating another opportunity to acquire assets of a complementary nature. At this stage, the negotiations are incomplete and confidential, and the company will continue to inform the market if the opportunity proceeds. Certain aspects of the Pre-Feasibility Study will be delayed until this alternate option is fully assessed.”
CSD is targeting a Q1 2014 start-up of a one million tpy ore processing plant producing some 5,000 tpy of tin-in-concentrate.
