Original-Research: First Tin Plc (von GBC AG): Buy

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Original-Research: First Tin Plc - von GBC AG

Einstufung von GBC AG zu First Tin Plc

Unternehmen: First Tin Plc
ISIN: GB00BNR45554

Anlass der Studie: Research Report (Note)
Empfehlung: Buy
Kursziel: 0.57 GBP
Kursziel auf Sicht von: 31.12.2024
Letzte Ratingänderung: 
Analyst: Julien Desrosiers, Matthias Greiffenberger

Business Development 1. HY 2023
Overall, First Tin's first half of the year marked a period of significant
strategic progress, establishing a robust foundation for future development
and production that adheres to the highest environmental standards and
satisfies the growing demand for responsibly sourced tin. The company
achieved substantial operational milestones, advancing key workstreams at
Tellerhäuser and Taronga.
Project Advancements and Regulatory Milestones: The thorough review
conducted by the Saxonian Mining Authority has confirmed the suitability of
First Tin's plans for the Tellerhäuser project. This endorsement has led to
a noteworthy reduction in the overall permitting timeline, potentially
shortening it by 12-18 months.
ESG-Focused Approach and Strategic Endorsement: Central to the Tellerhäuser
project is First Tin's unwavering commitment to environmental, social, and
governance (ESG) principles. The company has meticulously crafted a
comprehensive plan for Tellerhäuser, prioritizing minimal ecological impact
during both construction and production phases. This responsible approach
aligns seamlessly with First Tin's strategic goal of delivering an
ESG-compliant tin source to meet the growing demand for this crucial metal
across Europe and beyond.
Taronga DFS progress
The Definitive Feasibility Study (DFS) for the Taronga project in Australia
continues to gather momentum, marked by significant achievements:
Renewable Energy Collaboration: Entering agreements with BID Energy
Partners to conduct a renewable energy feasibility study, aimed at reducing
power costs and providing crucial support for permitting processes.
Exploration Milestones: Successful completion of confirmatory drilling and
exploration activities, which not only confirmed the characteristics of
mineralization but also expanded the project's potential.
Tin Beetle Prospect Discovery: The exciting discovery of the Tin Beetle
prospect, further substantiating the broader tin district hypothesis and
adding to the project's overall prospectivity.
Expanded Exploration License: TMPL has submitted an application for a
substantial Exploration License, consolidating control over historically
significant tin-producing areas.
Resource Size Augmentation: Positive outcomes from crushing testwork, along
with a substantial increase in the Taronga resource size, as reported in
the post-period end.
Cost-Efficient Processing Solution: Identification of a cost-effective
processing option for tin mineralization at the Taronga asset.
Looking ahead, First Tin remains steadfast in its commitment to deliver the
DFS studies for both the Taronga and Tellerhäuser assets. These milestones
are slated for completion in Q1 2024 and Q3 2024, respectively, marking
significant steps towards realizing the full potential of these projects.
In light of the positive developments, we reaffirm our valuation and price
target of GBP 0.57 and confidently assign a Buy rating.

Die vollständige Analyse können Sie hier downloaden:

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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:

Date and time of completion of the research report: 19.10.2023 (15:15)
Date and time of the first disclosure of the research report: 20.10.2023 (10:00)

-------------------übermittelt durch die EQS Group AG.-------------------

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. 
Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung
oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.


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