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Aus Tin Mining Strategic Review on Granville Tin Mine

Mining News - Published on Tue, 15 Oct 2019

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As announced on 20th September 2019, following the failure of key mining equipment the decision was made to undertake a strategic review of the Granville Tin Mine in order to determine the most economically efficient means of extracting value from the project. The review was completed using internally and externally generated data. The Directors of Aus Tin Mining Limited have considered the review and provide the following update in relation to the review's findings thus far. Notwithstanding operations had been on an improving trendline at the time the strategic review was announced, analysis of recent actual vs target Key Performance Indicators highlighted that a number of KPIs were yet to be achieved, albeit several were either transitioning and/or had recently been implemented but had yet to be fully reflected in the actual results.

Results of strategic review on the Granville Tin Mine include:
i. Operation to be placed on temporary care & maintenance until suitable mine fleet is available and additional equipment is installed at the plant;
ii. Pre-concentration prior to the mill provides near-term opportunity to expand production above the existing target; and
iii. Exploration to extend the current mineral inventory and mine life will be accelerated.

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Posted By : Rabi Wangkhem on Tue, 15 Oct 2019
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