London Stock Exchange Welcomes First Tin plc to the Main Market
First Tin (LSE: 1SN) is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.
The fundraising raised gross proceeds of £20m for First Tin, which will have a market cap on admission of approximately £80m based on the offer price of 30p per share. The total number of Ordinary Shares in issue immediately following Admission is 265,534,972 and this is the total number of Ordinary Shares with voting rights in the Company.
The net proceeds will primarily be used to execute key development milestones in line with its plan to bring two 100% owned tin mines into production before the end of 2025 so that it can provide provenance of supply to support the current global clean energy and technological revolutions. With a consistent global supply deficit, there is a critical need to create new, environmentally sensitive sources of tin production because of its vital role in the electric vehicle, renewable energy, energy storage, mobile telephony and semi-conductor sectors.