First Tin PLC has successfully completed the Definitive Feasibility Study (DFS) for its Taronga Tin Project in northeastern New South Wales, Australia. The study was conducted at a conservative base case tin price of US$26,000 per tonne and has confirmed the project's potential as a low capex, high margin tin mine with attractive economics.

The DFS revealed that at the current tin price of US$33,097 per tonne, the pre-tax NPV8 and IRR stand at A$331 million and 42% respectively, showcasing the project's sensitivity to higher tin prices. The Taronga Tin Project is expected to yield an average annual production of 3,600 tonnes of tin in concentrate, with low pre-production CAPEX of A$176 million and low C1 site cash costs of A$18,192 per tonne of tin produced.

First Tin's CEO, Bill Scotting, expressed delight in the study's results, emphasizing the project's value in delivering a secure tin supply amidst the global energy transition and digital transformation. He highlighted the potential for increased tin recoveries and extended mine life, as well as the project's unique geology and strategic location in a historic tin mining district, which reduces permitting risk.

Scotting also emphasized the critical role of tin in electronics and the increasing demand for new tin mines due to low global inventories and geopolitical tensions. He stated that the completion of the feasibility study is a significant step forward for the Taronga project, positioning it to be the world's next new tin mine.

The company's focus now turns to the completion and submission of the environmental impact statement, final approval processes with regulatory authorities, and advancing financing and off-take discussions for the next phase of development at Taronga. Additionally, a retail investor webinar will be held to present the results of the DFS, providing an opportunity for shareholders to engage with the company's leadership and ask questions.

In conclusion, the completion of the DFS for the Taronga Tin Project underscores its potential as a valuable and robust venture, poised to meet the increasing global demand for tin and contribute to the evolving landscape of critical minerals supply.