Mount Garnet Cost and Revenue Estimates Released

SHANGHAI, July 12 -- Consolidated Tin Mines has published summary figures from a preliminary scoping study on its Mt Garnet tin project in North Queensland, Australia. A consultant employed by the company has estimated that capital costs of a 700,000 tpy ore throughput operation would be in the order of A$124 million, with operating costs just under A$50/tonne of ore. Based on various price scenarios this would generate net annual cashflows of upwards of A$200 million.

The current study is based on production of just over 3,000 tpy of tin-in-concentrates and 237,000 tpy of 65%Fe magnetite concentrate. Current indicated and inferred JORC resources give a mine life of 7.5 years.