Tin One Mining JSC (the “Company”) is pleased to announce the positive outcome of the Feasibility Study(“FS”) on the Syrymbet project (the “Project”) completed by SRK Consulting (SRK), which confirms a robust 14 years of operation, producing 90.4 kt tin in concentrate, 29 kt copper in concentrate and 2,051 kt fluorite in concentrate. The technical work undertaken and economic analysis show a positive return for the Project with strong fundamentals: proven deposit, outstanding potential and medium to low capital costs. The FS demonstrates a number of significant improvements compared to the 2016 Pre-Feasibility Study (“PFS”) done by by Amec Foster Wheeler, including a simplified process flowsheet, which has culminated in delivering substantially improved project economics. The Project will compromise of an open pit mine and will include the construction of a new 2.5 million tonnes per annum (“Mtpa”) processing plant, which consists of a two distinct crushing circuit for oxide and sulphide ores, while the beneficiation incorporates copper flotation, bulk sulphide flotation, tin flotation and fluorite flotation. The Project also has significant upside opportunities, with potential of bringing the Northeast and Southwest deposits into production, which collectively comprise of a potential Total Mineral Resource of 492 358 kt of contained tin metal for all deposits of the company. Syrymbet will be one of the few tin mines in the world coming on‐line just as forecast demand for tin is expected to substantially increase. Accordingly, the Company expects, and is already receiving, significant interest in offtake contracts. Highlights Strong financial returns NPV (10%) of USD 271 EBIDTA totalling USD 1,110m Surplus of Net free cash flow of...
