Gippsland Ltd said that the recent rise in tin prices has added about $15 million a year to expected revenues from its Abu Dabbab tantalum-tin project in Egypt.
The mine is expected to produce 1,530 tonnes of tin-in-concentrate a year over a 20 year mine life. Two German banks are currently completing due diligence work on financing arrangements for the $125 million project, which has a resource of 40 million tones of ore grading 243 g/t Ta2O5 and 0.09% Sn.
Gippsland also has a 40% stake in the Zeehan tin project in Tasmania, the majority share in which was recently purchased by Stellar Resources.
