-----Csd has alot going on this year & next year in 2013.
I've been buying under the rader for the last 6 months. (Trying not to send the price up to hard to fast).
ONE of the quiet achievers of the Far North which deserves long overdue recognition is Consolidated Tin Metals.
This Cairns-based company has been feverishly going about its business behind the scenes and has become one of this year’s stand-out small resources stories.
It’s making good progress in developing its agship Mt Garnet tin project into a major long-term, large-scale tin mining operation.
The rising tin price has resulted in investors looking for quality projects in the sector
and this has placed CTM (or its ASX listing ofCSD) near the top of the list.
Just two-and-a-half years after listing on the ASX, the company is on target to open its $124 million Mr Garnet mill in 2013. It has forecast the project will deliver a gross value of $500 million over an initial 7.5-year mine life at a conservative $18,000 a tonne tin
price.
These conservative gures help to highlight a signi cant upside
for the project as the initial mine life is likely to be 10 years and the
current tin price is about $26,000 and going up.
But CTM managing director Ralph De Lacey is con dent the mine has a 30-year lifespan with a
$100 million a year turnover based on 5000 tonnes of tin concentrate at $20,000 a tonne.
He said what the company had
achieved had by and large gone unnoticed by the Far North community but it had been recognised by the ASX and prudent investors.
Construction of the mill is expected to take 12 months and will need 50 workers while the completed mill will require more than 30
sta to operate.
The rst test results from the rst four of 48 holes drilled reveal high-grade results with the results from another 44 to come.
The company is about to move into its next phase of exploration and development at Mt Garnet with drilling due to start at the Windemere project to upgrade its 2.1 million tonne JORC resource.
The company also has started a pre-feasibility study to further establish the robust nature of the project’s economics with the study including a pilot project scale test of the tin ore in western Australia.
The price of tin has been boosted to long-term highs this year and is currently about $25,400 a tonne. (NOW 33,000) per ton wow!
look @ the yearly charts=higher lows. The quarterly charts=higher lows....This is a VERY good sign! Plus i see tin prices still slowly on the move up.
2013 my guess price will be no lower than $1.00. imo
At the moment they are doing an offer 1 new share for every 4 shares holding & (1 option). Not a bad deal if you ask me! This to me is a fantastic 1-2 year hold. ( maybe selling 1/2 in 1year & hold rest to free carry)
Anyway for me it's a BUY as price imo will not be under .20 for much longer.
Have a great easter,
G signing out