Oct 29, 2019

Consolidated Tin Mines back on the bourse

Consolidated Tin Mines back on the bourse

Trading in Consolidated Tin Mines shares has recommenced after the Far North Queensland miner was relisted by the ASX.

CSD managing director Ralph De Lacey described the reinstatement to official quotation as a great achievement for the company and for its directors.

“This is a major part of the company’s long-term plan to develop the company’s significant asset holding and to have these assets recognised and transparently valued by the market,” he said.

“In parallel to the re-listing process, the company’s operations have been developing two projects, the new Mount Garnet Deeps underground mine project, which is adjacent to the Mount Garnet processing plant, and the re-establishment of the Dry River South mine at the Surveyor Project, 150km south of Mount Garnet .

“Both these mines are now nearing steady state production.”

Consolidated Tin securities had been suspended from official quotation since June 2016.

Recapitalisation has included securing loan facilities totalling $40 million through property firm Cyan Stone and two private equity placements that raised almost $24 million.

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