Tin in the News (20 March 2013)
Source:  ITRI Ltd

The following is a summary of the information circulated by ITRI Ltd.  For more details and the original text please visit http://www.itri.co.uk.

Timah goes for quality not quantity (20 Mac 2013)

Announcing its 2012 financial results, PT Timah emphasized that its strategy is to foucs on improving sales margins rather than volumes.

Net profit in 2012 fell by 52% to Rp431.6 billion (US$41.1 million), largely due to lower tin prices.  Refined tin sales volume increased by 3% to 34,934 tonnes last year, but the average realised price dropped significantly from US$26,714/tonne in 2011 to US$21,505/tonne last year.

Production of refined metal fell by 23% to 29,512 tonnes, while mine production (including ore purchases from small mines operating on Timah’s leases) fell by 21% to 29,776 tonnes.  Offshore production accounted for 63% of the total.

The target for production and sales of tin in 2013 is 31,000 tonnes at a conservative assumed US$21,500/tonne average price.

 

 Achmmach economics looking better (21 Mac 2013)

At the recent Mines and Money conference and exhibition in Hong Kong, Kasbah Resources has given an indication of possible conclusions of the definitive feasibility study (DFS) to its Achmmach project in Morocco due in Q4 this year.  The target is now to extend mine life to 10 years, compared to 6.6 years used in the pre-feasiblity study (PFS) completed in May 2012.  Indicative figures obtained by changing only the mine life and tin price assumptions in the 2012 PFS model pushed up the NPV of the project from US$79 million based on the actual May 2012 LME price to US$188 million at the 1 March 2013 price of US$23,150/tonne and between US$273 million and US$333 million at assumed prices of US$26,000/tonne and US$28,000/tonne.

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