Elementos is developing two world class tin projects with defined Mineral Resource in mining-friendly jurisdictions.
The company’s major asset (100% owned) is the Oropesa Tin Project located in the Andalucia region in southern Spain with easy access to critical infrastructure. Oropesa has a large ~12Mt JORC Mineral Resource which the company used as the basis for an Updated Economic Assessment (Scoping Study) completed in May 2020. The study positively identified a large open cut open-pit mine producing 2,440t of Tin in a 62% tin concentrate. Elementos is currently upgrading its Mineral Resources following a drill program and has recently announced the commencement of a DFS for the Oropesa project to accelerate the development of a tier-1 Tin asset in a supportive metals market.
The company’s second asset is the historic Cleveland Tin Project (100% owned) on the West Coast of Tasmania. Cleveland is a historic Tin mine (closed in 1986), which still hosts significant (7.5Mt) tin and copper mineralisation in underground, open-pit and tailings Mineral Resources, additionally the project hosts a separate tungsten Mineral Resource and Exploration Target at depth. The Company has completed several studies assessing the potential of developing these Resources and is revisiting these currently is in the strong Tin market. The region has well-developed infrastructure, linked to Burnie Port by sealed roads and accessible high voltage power runs through the exploration licence area.
Elementos is led by an experienced management team and board. The company is a pure tin platform, with an ability to develop multiple projects across the globe. The company is well-positioned to help bridge the forecast significant Tin supply shortfall (30-50kt) in coming years. This shortfall is being partly driven by increasing global interest in electrification, green energy, automation, electric vehicles at the same time as global supply is waning from established producers. Tin prices are currently stable near all-time highs which is incentivising investment into developing more Tin supply – which Elementos intends to deliver.