First Tin raises funds to rapidly develop tin projects

First Tin has raised £20 million and completed an Initial Public Offering in order to rapidly develop its tin projects.
The company, headed by ex-Aurubis COO Thomas Buenger, is developing the Tellerhauser and Taronga tin projects in Germany and Australia. Funds were raised following a subscription, institutional placing, and retail offer, before listing on the London Stock Exchange. First Tin began trading on 8 April under the ticker 1SN. Thomas Buenger commented “We are very pleased with the level of interest generated from new investors in support of our IPO. This is an exciting milestone for the Company and we welcome our new and supportive shareholders alongside us in our growth journey.”
Using these raised funds, First Tin plans to complete development studies over the next 18 months. “We are now well placed to create near term value for our investors through low-capex development work”, Thomas confirmed, noting that the company aims “to advance two assets towards production before the end of 2025.” Recent studies of both projects have indicated positive economics at lower tin prices than today and the company is confident that the in-depth work will reinforce this.
Both Taronga and Tellerhauser are located near good infrastructure, with established reserves and simple mineralogy, enabling a quick path to production, according to the company. Combined, the two projects could produce some 6,000 tonnes of tin-in-concentrate annually when they both come online. The rapid development of these projects, therefore, is a significant boost to the tin industry and will help close the forecast gap between supply and demand.

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