Acquisition: First Tin PLC (Main Market)
First Tin acquired Taronga Mines, completed £20 million placing, and gained admission to LSE Main Market.
First Tin PLC (First Tin) has announced its successful acquisition of Taronga Mines Pty Ltd, placing of £20 million and admission to trading on the Standard Segment of the Main Market of the London Stock Exchange.
First Tin owns two advanced tin projects in Germany and Australia. It aims to bring both projects into production to deliver a sustainable solution for material supply issues faced by industrial tin consumers.
According to the International Tin Association’s Global Resources and Reserves report 2020, First Tin will have the world’s seventh-largest CRIRSCO-compliant undeveloped tin resource (outside of Russia, Kazakhstan and the Democratic Republic of Congo, it will be the second largest).
First Tin's goal is to become a global tin producer, supplying fully traceable and verifiable tin units to global industries with high tin usage. Industries that currently have strong demand growth include the electric vehicle, renewable energy, energy storage, mobile telephony and semi-conductor sectors.
Crowe's role and the team
Crowe acted as reporting accountant on the transaction. Paul Blythe led our Capital Markets team, supported by George McMullen.
Client quote
"We appreciate the assistance of the Corporate Finance team at Crowe to help us with our admission to the Standard Segment of the London Stock Exchange's Main Market. Crowe's service was very efficient and supportive. I would certainly recommend them to other companies looking to admit to the Standard List in London."
Martyn Knight, CFO, First Tin PLC
