Do not sell cheap, page-2

Overnight, Tin LME stocks have dropped significantly, dropping 220 tons to now sit at 3030, marginally above the '08 low of 3010, and the tin price has responded accordingly, moving $345 to $19,855/ton cash settlement, the biggest one day move in more than a month. Tin has fallen below the 3000 ton LME level only once in the past 14 yrs, for a period of two days only, to a low of 2745 in Jun '04. Like '08, Tin prices then went on a 2 year run from around $9,000/ton to $23,000/ton despite tin stocks rising. Both of these price moves where between roughly 150-200% from bottom to top, so starting from a low of approx. $13,500 in Jan '16, this produces figures of approx. $33,000 - $40,000/ton in approx. 18 months from now - very much in the ball park of where some are suggesting Tin prices could end up. Given that Stellar resources has mentioned they are profitable from approx. $14,500/ton and Metals X is profitable from $12,500/ton (from memory from recent readings) then these price levels will produce spectacular profits for companies like these. No wonder Metals X and its partner are looking at spending such a large amount of money just to reprocess their tailings. But, for around 50-60% of their estimated spend they could have access to a much bigger resource, which with further drilling is most likely much bigger than it's current JORC estimate......

kind regards, SEAH.