Production of tin-in-concentrate at the Renison mine in Tasmania, rose by 16.5% to 5,839 tonnes in 2012, according to un-audited data released by a major Chinese shareholder. Hong Kong-based Goodtop Tin, which has an effective 41% stake in the joint venture between Metals X and Chinese partners, made the announcement to the Hong Kong Stock Exchange on 3 January.
Fourth quarter production of 1,791 tonnes – if confirmed – will be the highest quarterly output level since the mine was acquired by Metals X. In the last few years the joint venture partners have invested heavily in mine development and rehabilitation and the results of this are now clearly visible.
Goodtop acquired its stake in the business in March 2011 when it acquired Parksong Mining, the original partners with Yunnan Tin Group in the venture. Goodtop is currently in the process of changing its name to L'sea Resources, and will trade on the HK Exchange under this new identity from 10 January.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)