Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) is seeking to become a major global tin producer to support “an electric tomorrow” with its two wholly-owned world-class tin projects in Spain and Australia.
The company has two tin projects – its flagship Oropesa Tin Project in Andalucia, Spain, and its Cleveland Tin Project in Tasmania, Australia - with large JORC resource bases and further exploration potential in mining-friendly (non-conflict) jurisdictions.
An economic study completed in May 2020 positioned the Oropesa Project as a low-cost, globally significant new tin development with a prospective annual production of 2,440 tonnes of tin-in-concentrate over a 14-year mine life.
Elementos buoyed by ongoing strong Oropesa results as tin prices soar
The company continues to intersect mineralisation in the drilling program, which is more than 70% complete and is on track to meet the company s objectives. The tin price is currently over US$34,000/tonne.
Elementos Ltd’s (ASX:ELT) (OTCMKTS:ELTLF) drilling and optimisation campaign has confirmed further continuity of mineralisation, increasing the company’s confidence of the mineral resource at its flagship Oropesa Tin Project in Spain.
Assays for an additional diamond drill hole drilled last month confirmed the following mineralisation:
2.7 metres at 0.39% tin from 74.3 metres;
33.3 metres at 0.22% tin from 92.0 metres; and
S&P/ASX 200 on track for seventh consecutive month of gains
Amazon on Thursday released first-quarter results that exceeded analysts’ expectations, with sales soaring 44% year-over-year to US$108.5 billion and profits more than tripling to US$8.1 billion. Brent crude oil price rose 1.3% to US$68.16 a barrel on Thursday.
S&P/ASX 200 (INDEXASX:XJO) dipped 0.60% to 7,039.5 points by 12.51 pm even as US markets rose overnight on strong corporate earnings data.
Locally, this is a second weekly decline a row, but the ASX 200 remains firmer for the month with a gain of 3.6%.
This would make it a seventh straight month of gains with the market rising about 20% in this time.
Elementos goes all out to capitalise on strong tin market and high prices
As a part of its Oropesa exploration, the company plans to drill 48 diamond holes for around 5,000 metres and has already completed 31 holes for 3,710 metres, with assays received for 19 holes. Tin prices have touched 10-year highs on LME, providing strong encouragement to Elementos.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) is taking big steps to capitalise on strong tin market fundamentals, including high prices, through exploration, development and production of high-grade tin projects in stable jurisdictions.
The company’s portfolio comprises near-term development and exploration assets, including the Oropesa Project in Spain, one of the world’s largest undeveloped, open-cut mineable tin deposits.