Ann: AVZ Signs First Tin Offtake Agreement, page-109

I have no idea how much it is, and that’s why I’m curious. Tin revenue is the (nice) cherry on top, but today’s announcement is not an additional $20m p/a in revenue. Probably not even half that.

Selling 65% tin concentrate per the announcement means it’s at most 65% of the metal price. Then factor in additional production costs from further refining (this really depends on AVZ’s flow sheet and when tin leaves the process) and smelting (big cost) to make metal. Then the smelters make their margins. Realistically, it could be well under half the spot price.

I’d be interested to hear if any one has an idea of tin concentrate prices - if not, DFS should have the answers.