Consolidated Tin releases promising study

Company News

Consolidated Tin Mines Limited (ASX:CSD) has released a pre-feasibility study, which found its Mt Garnet project in north Queensland could support a nine-year mine, producing nearly 3,000 tonnes of tin concentrate a year.
The news comes with tin prices booming after Indonesia dramatically cut exports by up to 75 per cent.
Tin is also benefitting from new industrial uses as manufacturers replace lead with tin.
Consolidated Tin's share price shot up 30 per cent to 7.8 cents yesterday.
Managing director Ralph De Lacey says he believes the mine will be operating and the company would be selling tin by the end of calendar 2014.
Consolidated Tin booked a net loss of just over $1 million in fiscal 2013.