REG - First Tin PLC - Publication of Prospectus and Notice of GM

First TinAnnouncement

31/10/2024 12:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241031:nRSe4460Ka&default-theme=true

RNS Number : 4460K  First Tin PLC  31 October 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH IT
WOULD BE UNLAWFUL TO DO SO.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF
CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE
COMPANY.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION,
SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR,
OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF FIRST TIN PLC IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

 

31 October 2024

 

First Tin PLC

("First Tin" or "the Company")

Publication of Prospectus

Notice of General Meeting

First Tin PLC (LSE: 1SN), a tin development company with advanced, low capex
projects in Australia and Germany, is pleased to announce that, further to the
conditional £8 million fundraise announced on 28 October 2024 (the
"Fundraise"), the Company has today published a combined prospectus and
circular (the "Prospectus") relating to the proposed issuance of 133,333,334
new ordinary shares ("Placing Shares") at a price of 6 pence per share (the
"Issue Price").

The Fundraise is conditional, amongst other things, on the approval by
Shareholders of resolutions to be proposed at a general meeting of the Company
which is to be convened on 19 November 2024 (the "General Meeting") to approve
the issue of the Placing Shares on a non pre-emptive basis (the
"Resolutions"), the Admission of the Placing Shares and the Placing Agreement
not having been terminated in accordance with its terms.  The Prospectus,
containing details of the Fundraise and a notice of the General Meeting, will
be posted to Shareholders today and will be available on the Company's website
at: www.firsttin.com (http://www.firsttin.com) .

The Prospectus will also be available for inspection at the National Storage
Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .

The General Meeting will be held at 9:00 a.m. on 19 November 2024 at the
offices of First Tin PLC at First Floor, 47-48 Piccadilly, London W1J 0DT.

Subject (amongst other things) to all Resolutions being passed at the General
Meeting, it is expected that Admission will become effective and dealings in
the Placing Shares will commence on the Main Market at 8 a.m. on 20 November
2024.

Application will be made to the London Stock Exchange for the Placing Shares
to be admitted to the Equity Shares (Transition) category the Financial
Conduct Authority's Official List and to trading on the Main Market of the
London Stock Exchange, assuming the conditions to the Placing are satisfied.

The proceeds from the Fundraising will be allocated across both assets as well
as to fund the typical costs associated with being a listed company:

·      Taronga, Australia:

o  The majority of the funding will be allocated to the Taronga project,
directed towards the compelling enhancement opportunities identified during
the Definitive Feasibility Study, with the goal of increasing the project's
Net Present Value  to approximately AUD 400 million and final permitting
requirements.

o  Activities include the conversion of additional Inferred Resources through
drilling of numerous in-pit and near-pit targets to enable a deeper, wider
pit, testing of extensions and potential parallel zones, delivery of a revised
Resource Estimate, process design and optimisation of pits, waste rock
emplacements/co-disposal area, infrastructure, geotechnical designs and
models, and continued Mineral Processing Testwork to confirm recent excellent
recoveries announced.

o  Pit optimisations and subsequent detailed designs are currently based on
the initial, far too conservative, average 54% recovery formula, but ongoing
mineral processing test work has shown an average total recovery of 66.8%
across high grade and low-grade samples.

o  Funds will also support activities related to completion of the
Environmental Impact Statement for final permitting and early site works,
preparing the project for future development and construction phases.

o  These activities have significant potential to create value upside and to
extend the Life of Mine.

·      Tellerhäuser, Germany:

o  With the majority of funds being allocated in Australia, funds allocated
in Germany will be used to support internal activities related to progressing
permitting and related community engagement. Additionally, minimal fieldwork
will be conducted to ensure the retention of the Exploration Licenses at
Gottesberg and Auersberg.

 

Enquiries:

 

 First Tin                                                Via SEC Newgate below
 Bill Scotting - Chief Executive Officer
 Arlington Group Asset Management Limited (Joint Broker)
 Simon Catt                                               020 7389 5016

 Zeus Capital Limited (Joint Broker and Bookrunner)
 Harry Ansell/Dan Bristowe/Katy Mitchell                  020 3829 5000

 SEC Newgate (Financial Communications)
 Elisabeth Cowell / Molly Gretton                         07900 248 213

 

Notes to Editors

First Tin PLC is an ethical, reliable, and sustainable tin production company
led by a team of renowned tin specialists. The Company is focused on becoming
a tin supplier in conflict-free, low political risk jurisdictions through the
rapid development of high value, low capex tin assets in Germany and
Australia, which have been de-risked significantly, with extensive work
undertaken to date.

Tin is a critical metal, vital in any plan to decarbonise and electrify the
world, yet Europe has very little supply. Rising demand, together with
shortages, is expected to lead tin to experience sustained deficit markets for
the foreseeable future.

First Tin's goal is to use best-in-class environmental standards to bring two
tin mines into production in three years, providing provenance of supply to
support the current global clean energy and technological revolutions.

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PDILFLFXZBLFFBB