I was reading through the annual report and noticed this:
"The Khartoum Tin Project is situated 100 km SW of Cairns.
Best results so far:
* 104m at 0.21% Sn from 12m
* 34m at 0.26% Sn from 99m
Exploration to date suggests a conceptual tonnage potential of 80-120 MT @ 0.2-0.3% Sn."
This gives 160,000 - 360,000 tonnes of tin. Current LME tin price is $26,400 USD. This is a potential in ground value of $4.2 - 9.5 Bn.
Hopefully with some further drilling they should be able to release an initial JORC tin resource. Does anyone know if they are planning drilling at Khartoum anytime soon?
AZX Price at posting:
46.9¢ Sentiment: LT Buy Disclosure: Held
