Deutsche Rohstoff Ag: Tin International is awarded further exploration license
License
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
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of the Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil & gas and so-called
high tech metals such as tin, tungsten, and rare earth metals. All projects
are located in countries marked by political stability, the core area being
Germany. The business concept is based on (re-) developing deposits, which
have been well explored in the past. www.rohstoff.de
Contact:
Thomas Gutschlag
gutschlag@rohstoff.de
+49 6221 871 000
End of Corporate News
Unternehmen: Deutsche Rohstoff AG - ISIN: DE000A0XYG76