The world's major tin suppliers , are in trouble, and are struggling to cope with diminishing supply inventories and rising costs.
Last year the Indonesian government ordered half of it's 28 state owned tin smelters to close due to unacceptable smelting margins.
Indonesia is the world's largest exporter of direct shipping ore tin. Similar circumstances are also impacting on tin miners in China.
In addition, the world's tin mine Minsur's San Rafael mine, in Peru, which accounts for about 10% of global supply is scheduled to close in 2017.
Interesting times for TRF if they can present to the market a large JORC high tonnage estimate resource next few months. Tin prices are climbing back upwards and steady at US $22200 a tonne on the LME and have recently been as high as US$35000 a few years back.
These are some of the highest grades I have seen in years for a prospective explorer. And the outlook for Tin demand remains very strong.
TRF Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
