Lizense „Sadisdorf“ close to historic tin mine Altenberg/Very positive metallurgical results for Gottesberg
Chemnitz/Heidelberg. Tin International (TIN) was awarded another license area in the Erzgebirge region of Germany. The Saxon Mining Authority advised that TIN received an exploration license for five years for the area around Sadisdorf in the eastern part of the Erzgebirge. TIN won the license against two competing companies.
Sadisdorf has been the site of tin, copper and molybdenum mining operations since the 1500`s and is located 15 km from Altenberg, the largest of all historic mines in the Erzgebirge. Altenberg ceased operation in 1991. Sadisdorf was also known for mining of copper and molybdenum.. TIN believe on initial assessments that Sadisdorf has excellent potential to rapidly add to the Company´s inventory of tin metal in Saxony.
Samples of ore from Gottesberg, one of Tin´s two other license areas in Saxony, Gottesberg, underwent testwork at ALS laboratories in Tasmania during autumn 2012 and the results have now been obtained. The objective of this programme was to verify the gravity/flotation process previously proposed by the East German miners. The results of this work were extremely positive with overall recoveries to be in excess of 80%. The proposed flowsheet is very straightforwardand the cost structure of the plant should therefore be low.
Tin prices recovered strongly throughout the last months of 2012 finishing the year over $ 23.000 per tonne. The start of 2013 has seen this rally continue with prices breaking through $ 25.000 in january. The current price recovery in mainly being driven by supply constraints. The price outlook for 2013 and further is extremely positive mainly due to ongoing supply shortages especially in Indonesia where production is estimated to have declined 10% last year. The supply restraints are seen a permanent feature of the tin market and reflect several decades of minimal investment in new mining operations. A recent survey of producer and analyst forcasts compiled by Bloomberg predicts the tin price rising to $ 28,750 during 2013.
Heidelberg, 13 February 2013