Consolidated Tin Mines in talks with Chinese off take partners
Consolidated Tin Mines (ASX: CSD) is to enter discussions with potential
Chinese off-take and joint venture partners in Shanghai, China, for its
Mt Garnet Tin Project.
Mt Garnet is located in one of Australia’s largest tin producing areas in the Herberton Tin Field near Cairns in northern Queensland.
Consolidated Tin have a substantial land holding of quality tin assets in the project and is developing it as a large scale, long term producing mine.
Ralph De Lacey, managing director, will commence discussions next week with a number of investment groups and representatives of tin smelters on future off-take arrangements and joint venture investment partnerships for the development of the Mt Garnet Project.
This will include participation at the Queensland-China Trade and Investment Forum at the specific invitation of the Queensland government, which will feature approximately 100 potential Chinese investors. The Forum forms part of the Shanghai World Expo 2010.
The Mt Garnet Project has a total JORC Resource of 5.27Mt @ 0.64% Tin. This includes a JORC Measured Resource of @ 1.2 million tonnes @ 0.82% Tin, and a JORC Indicated Resource of 824,100 tonnes @ 0.73% Tin.
The project area is made of three principle projects – Gillian, Pinnacles and Deadmans Gully. The Gillian Project is the Company’s most advanced project.
The Mt Garnet Project area is also highly prospective for iron mineralisation, and also has a JORC Iron resource of 5.3Mt @ 26.39% Iron (Fe).
Ralph De Lacey said that through the development of the Mt Garnet Project, Consolidated Tin plans to become Queensland’s major tin producing company.
It also has a portfolio of alluvial tin projects in the same region, which it is looking to bring into production in the near term, to provide strong cash flows for the company.
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