Tin International Ltd (TIN) is currently approaching potential investors in Australia, Asia and Europe regarding a planned IPO on the Australian Securities Exchange before the end of the year. TIN, which is majority controlled by Deutsche Rohstoff AG, owns two tin projects in East Germany. Australian finance house Helmsec is a significant minority shareholder. Helmsec director Tony Lethlean told The Australian newspaper that the company should achieve a market valuation of $70 million through the listing. He noted that costs in Germany were at least 30% lower than in Australia.
TIN has recently provided further details of its plans for two projects in Saxony. Deutsche Rohstoff AG published first JORC compliant resource estimates at the end of August, based on a cut-off grade of 0.15% tin. For the Gottesberg project the resource was estimated at 115,000 tonnes of contained tin at an average grade of 0.27% tin, while for the Geyer deposit the respective figures were 44,000 tonnes at 0.37% tin. TIN has now identified a higher grade portion of the Gottesberg project of 6.8 Mt of ore at 0.49% tin containing 33,000 tonnes of tin, based on a higher cut-off of 0.35%Sn. The deposit may also yield significant copper by-product revenues. The company plans to commence a drilling program in 1Q 2013 with the aim of increasing both the overall resource and the tonnage of higher grade zones within the resource. The deposit remains open both in proximity to some of the former mine workings and at depth. Scoping studies on both projects are due to be published in the first half of next year.
