bromby on tin, ausnico and ytc

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Tin shortage looms

ALL the talk in the tin industry last week was the big drop in production at Peru's San Rafael mine, which has been providing about 10 per cent of world output. Tonnages fell by 9.6 per cent in 2012 and will drop again this year, with the mine due to close in 2017. But the faster than expected decline may mean an even bigger supply squeeze in the years ahead.

One story we'll be watching is that of AusNiCo (ANW), a nickel hopeful effectively becoming a backdoor entry for unlisted tin explorer Taronga Mines which couldn't get away its IPO.

Located north of Glenn Innes, NSW, the Taronga project was explored extensively by the old BHP in 1933 ... Then US major Newmont Mining spent big between 1978 and 1983, completing a feasibility study -- only to have the world tin market collapse in 1985.

Taronga is the 10th largest known undeveloped hard rock tin deposit in the world and ANW is now pushing ahead with a scoping study.

ANW is still in the pits at 1.7c but it has a supportive shareholder at 15.9 per cent in YTC Resources (YTC) which, while now preoccupied with its Hera gold/base metals mine development, is still very interested in tin and has done more drilling at its Doradilla project in NSW. YTC is 12.1 per cent owned by Yunnan Tin.

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http://www.theaustralian.com.au/business/opinion/most-gold-stocks-not-up-to-scratch/story-fnciihm9-1226574910126

Comment: I hadn't been too optimistic on AusNiCo, but feeling better about it now ...