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Consolidated Tin Mines completes asset acquisition
Tuesday, 20 January 2015

Consolidated Tin Mines Ltd (CSD) has announced that participants of a general meeting of shareholders on January 12th 2015 voted in favour of all resolutions relating to the acquisition of assets from Snow Peak Mining (SPM) which has taken place with immediate effect.

The assets acquired include the 1 MTPA Mt Garnet Concentrator, polymetallic Surveyor-Balcooma open pit and underground mines, Maitland and Einasleigh Projects and Baal Gammon Mineral Rights Agreement , along with all plants, equipment, associated mining tenements and information. The Surveyor mine has produced 90,000 tonnes of zinc ore from the underground mine and 450,000 tonnes of copper and polymetallic ore from the open pit operation since being brought back to production from care and maintenance in August and November 2014 respectively. This means CSD has transitioned from a junior explorer to an operating producer and has seen a tenfold increase in employees, to 131, as a result.

Conversion of the Mt Garnet Concentrator to tin processing is important to the current mine plan for the Mt Garnet Tin Project, in Queensland, Australia, and is expected to take 12-18 months. A DFS for the project is expected in early 2015 with tin production planned by the end of the year. In addition, a joint venture agreement with Wanguo International Mining Group for prospects including the Einasleigh project has been inherited from SPM. These represent substantial exploration projects fully funded by Wanguo.

CSD Managing Director, John Banning, said "Shareholder approval of the proposed SPM assets acquisition marks another significant milestone in the CSD strategy to rapidly develop the Mt Garnet Tin Project through the acquisition of an operating and revenue generating mining business with latent processing capacity that is only 8 kilometres from the Gillian and Pinnacles tin resources that compromise the Mt Garnet Tin Project."

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