New company “Tin International Limited” founded/Funding of AUD 4 million completed
Brisbane/Heidelberg. Deutsche Rohstoff AG has founded a new company, Tin International Limited (TIN), to focus on the development of two large tin deposits in Germany, significant on a global scale. These two deposits have a total of approximately 180,000 tons of tin and together outline the world’s largest known undeveloped tin resources. The Company will have headquarters in Australia. Initial funding for the company is from a mix of global investors, in particular Asia and Australia. For the coming year, the initial public offering (IPO) of the company is planned for the Australian ASX.
The deposits in Gottesberg and Geyer (Western Erzgebirge, Germany) are a result of intensive exploration by the GDR in the 1970s and 1980s, with 169 holes and 60,000 meters of drilling. TIN will thus focus on the confirmation of resources under the Australian JORC code and then development of tin deposits at Gottesberg and Geyer (Erzgebirge). A Drilling program has been designed and is ready to begin in the December quarter of 2011.
With 68 per cent, Deutsche Rohstoff AG (DRAG) holds the majority of shares. Tin International will take over Sachsenzinn GmbH from DRAG, a recently formed company, which owns 100 per cent of the deposits of Gottesberg and Geyer. Within the first round of financing, private and institutional investors acquired an interest in Tin International in the amount of AUD 4 million (approximately EUR 3 million). Deutsche Rohstoff AG did not participate in this financing round.
Almost all active mining and metallurgical companies in the tin sector are located in the Far East and Australia. Accordingly, there is a great understanding of the fundamental importance of new tin projects. During current and future corporate actions, including the IPO, the company is accompanied by the Australian Investment House, Helmsec Global Capital Ltd., which is also a co-founder of Tin International. Helmsec specialises in the mining/resources sector and has offices in Sydney, Melbourne, Hong Kong and Singapore.
Tin mining has a long tradition in Saxony
In the history of tin mining Saxony has taken an important role for centuries. The mine Altenberg in the Eastern Erzgebirge produced tin from 1440 to 1991, and was the last active European tin mine. It is not only the large potential of the company’s deposits but also a global shortage of large tonnage hard rock mining projects. Compared to other industrial metals, there are very few new tin producers worldwide.
A large part of the world production comes from China and Indonesia. In contrast, there is a steadily growing demand, especially in the production of electrical appliances and sheet metal and alloys. The marketing of such products is strongly linked to a growing world population and rising levels of prosperity. As a replacement for lead it is becoming more important environmentally.
Titus Gebel, who is representing Deutsche Rohstoff AG in the Board of Directors of Tin International as a non-executive chairman, said: “The international interest in our Saxon tin deposits was exceptionally high in recent months. We are pleased that we now can advance the development of Gottesberg and Geyer together with experienced partners. I am confident that we will succeed to build a successful company with Tin International in the fundamentally promising tin market. “
Tony Lethlean, who will represent the partner Helmsec in the board of directors of Tin International, said: “These two deposits stand out even by world standards. In addition, the expertise and the framework of DRAG in Saxony were convincing. Our plan is to confirm and build the tin resource inventory and then push forward into feasibility studies and project development.”
Heidelberg, 6 October 2011
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on gold, oil & gas and so called high tech metals such as tin, tungsten, indium, gallium, and rare earth metals. All projects are located in countries marked by political stability, the core area being Germany. The business concept is based on redeveloping deposits which have been well explored in the past. A first production started in Georgetown/Australia in January 2011. For more information please visit www.rohstoff.de.
Dr. Thomas Gutschlag
Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24, 69117 Heidelberg
Tel. (06221) 87 100-0
Fax (06221) 87 100-22
Koppelstätter Kommunikation GmbH
Friedrichstraße 2, 76530 Baden-Baden
Tel. (07221) 97372 11
Fax (07221) 97372 22