DGAP-News: Deutsche Rohstoff AG:
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG:
06.10.2011 / 07:45
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Deutsche Rohstoff AG: Development of two large German tin deposits
commences
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 pleasedthat 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.
Contact:
Thomas Gutschlag
gutschlag(at)rohstoff.de
+49 6221 871 000
End of Corporate News
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Datum: 06.10.2011 - 07:45 Uhr
Sprache: Deutsch
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