The Directors of Aus Tin Mining Limited (the Company) wish to provide the following update in respect of the Granville Level 2 Expansion (Granville Expansion).
Following finalisation of the 2017 trial shipment, the Company has entered into a new, two year tin purchase agreement with Traxys Europe S.A for tin concentrate from the Granville Tin Project. Whilst the terms of the agreement are confidential, key elements of the previous agreement, including the purchase of the concentrate “ex-mine gate” and payment linked to the prevailing US dollar tin price as quoted on LME are retained. Taking into account new thresholds for certain penalty elements, overall the new agreement provides for more favourable terms to the Company. The Company is pleased continue the working relationship with Traxys Europe S.A.
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