Original-Research: First Tin Plc (von GBC AG): Buy

Original-Research: First Tin Plc - von GBC AG

Einstufung von GBC AG zu First Tin Plc

Unternehmen: First Tin Plc
ISIN: GB00BNR45554

Anlass der Studie: Research Report (Note) Empfehlung: Buy
Kursziel: 0.57 GBP
Kursziel auf Sicht von: 31.12.2024
Letzte Ratingänderung:
Analyst: Julien Desrosiers, Matthias Greiffenberger

Business Development 1. HY 2023
 
Overall, First Tin's first half of the year marked a period of significant strategic progress, establishing a robust foundation for future development and production that adheres to the highest environmental standards and satisfies the growing demand for responsibly sourced tin. The company achieved substantial operational milestones, advancing key workstreams at Tellerhäuser and Taronga.
 
Project Advancements and Regulatory Milestones: The thorough review conducted by the Saxonian Mining Authority has confirmed the suitability of First Tin's plans for the Tellerhäuser project. This endorsement has led to a noteworthy reduction in the overall permitting timeline, potentially shortening it by 12-18 months.
 
ESG-Focused Approach and Strategic Endorsement: Central to the Tellerhäuser project is First Tin's unwavering commitment to environmental, social, and governance (ESG) principles. The company has meticulously crafted a comprehensive plan for Tellerhäuser, prioritizing minimal ecological impact during both construction and production phases. This responsible approach aligns seamlessly with First Tin's strategic goal of delivering an ESG-compliant tin source to meet the growing demand for this crucial metal across Europe and beyond.
 
Taronga DFS progress
The Definitive Feasibility Study (DFS) for the Taronga project in Australia continues to gather momentum, marked by significant achievements: Renewable Energy Collaboration: Entering agreements with BID Energy Partners to conduct a renewable energy feasibility study, aimed at reducing power costs and providing crucial support for permitting processes. Exploration Milestones: Successful completion of confirmatory drilling and exploration activities, which not only confirmed the characteristics of mineralization but also expanded the project's potential. Tin Beetle Prospect Discovery: The exciting discovery of the Tin Beetle prospect, further substantiating the broader tin district hypothesis and adding to the project's overall prospectivity. Expanded Exploration License: TMPL has submitted an application for a substantial Exploration License, consolidating control over historically significant tin-producing areas.
Resource Size Augmentation: Positive outcomes from crushing testwork, along with a substantial increase in the Taronga resource size, as reported in the post-period end.
Cost-Efficient Processing Solution: Identification of a cost-effective processing option for tin mineralization at the Taronga asset. Looking ahead, First Tin remains steadfast in its commitment to deliver the DFS studies for both the Taronga and Tellerhäuser assets. These milestones are slated for completion in Q1 2024 and Q3 2024, respectively, marking significant steps towards realizing the full potential of these projects.  
In light of the positive developments, we reaffirm our valuation and price target of GBP 0.57 and confidently assign a Buy rating.

Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/27913.pdf

Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung
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Date and time of completion of the research report: 19.10.2023 (15:15) Date and time of the first disclosure of the research report: 20.10.2023 (10:00)

-------------------übermittelt durch die EQS Group AG.-------------------

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.