Company
ASX:ELT
Elementos Ltd (ASX:ELT) is committed to the safe and environmentally conscious exploration and production of high-grade tin resources, regardless of the location. The company is focusing primarily on the Oropesa Tin Project in Spain, which was acquired in January 2020 and is regarded as one of the world’s largest undeveloped, open-cut mineable tin deposits, with access to world-class infrastructure. It also owns the Cleveland Tin Project, which is around 80 kilometres southwest of Burnie in the mineral-rich northwest region of Tasmania, Australia.
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“To be able to partner with a long-established Spanish contractor like Duro Felguera, and one which specialises in EPC delivery of large industrial projects, is a clear benefit to our project, which is aiming to establish a new tin supply f
The intersections are broader than previous company modelling would suggest and bolsters Elementos' confidence that it is well-positioned to help bridge the forecast significant tin supply shortfall in coming years.
The company plans to complete infill drilling and a subsequent mineral resource estimate update before finalising definitive feasibility study (DFS) mine planning at the Spanish project.
Elementos shares were last trading at A$0.45/share, a significant discount to BW Equities’ A$1.00/share valuation.
The company is undertaking a definitive feasibility study (DFS) and is finalising environmental permitting as its next step in developing Oropesa.
“In just one hole, in an area with very little historical exploration, the company has made a significant development at the Cleveland Project, extending both the Battery Tin-Copper Lode and identifying new tungsten mineralisation 150 metre
“We believe we have submitted a project for approval which is not only sensitive and responsible with the approach it takes to mining, processing and rehabilitation but will leave environmentally sensitive areas and wildlife in the region t
The analyst also reiterated its A$1 per share valuation following robust results from the company’s optimisation study for the Oropesa Tin Project in Spain.
“The optimisation study confirms that Oropesa will deliver a low capital-intensive project, with a competitive operational cost base, producing significant quantities of tin concentrate for at least 13 years. The operational and financial m
Andalucían Government has assigned Oropesa to its Project Accelerator Unit for accelerated and streamlined regulatory assessment and processing.
“These results indicate the merits of future exploration and drilling programs at Oropesa, particularly along strike to the northwest and southeast, which could expand the size of the current mineral resource estimate,” says MD.
The company expects to complete the exploration program and report on results in the first half of 2022.
“ELT provides investors with exposure to a tin project in a stable geographic region (Spain), with a defined economic assessment that shows very strong fundamentals at current tin prices.”, said BW Equity.
The study follows a material increase in key project drivers over the past 18 months which have the potential to reshape the project’s economics and scale amidst the recent historic tin price highs above US$40,000/tonne.
BW Equities has upgraded Elementos’ target share price to 4.5 cents per share from 3 cents given the recent increase in tin resources and the strong spot tin price of >US$37,000/t.
The company is well-funded and well-positioned to progress Oropesa through feasibility studies and into production.
“As major economies rapidly move toward securing the supply of critical minerals, of which tin is listed, Elementos will continue to work with governments (and their nominated organisations) to ensure our tin projects feed into the value ch
Completion of the DFS is scheduled for the second half of 2022. BW Equities believes an 18-24-month timeline to construct the project will follow putting the asset on track to achieve first production in 2025.
The Oropesa Tin Project is considered one of the world’s largest undeveloped, open-cut mineable tin deposits. The last assay from Elementos’ resource drilling campaign further confirms its prospectivity ahead of a mineral resource update ne
Elementos is focusing primarily on the Oropesa Tin Project in Spain, which was acquired in January 2020 and is regarded as one of the world’s largest undeveloped, open-cut mineable tin deposits.
