Tin Price Shakes Gold Hunt Stellar Resources | the lawyer

news, local news, Tasmania, mining, tin, gold, Stellar Resources, Zeehan, North East

A company hoping to mine tin and gold in Tasmania has been buoyed by high prices, partly caused by the coronavirus. ASX-listed Stellar Resources Limited wants to mine tin at its Heemskirk project near Zeehan and has a series of exploration licenses in the northeast, mainly targeting the Tasmanian continuation of the famous Victorian gold deposits. Stellar’s semi-annual report as of Dec. 31, released during the week, said tin prices “continued to rise dramatically” during the reporting period and have strengthened significantly since then. “Tin prices have more than doubled in the past 12 months and are now well above 10-year highs,” Stellar said. “The International Tin Association now expects tin prices to stay higher for longer. “Current tin prices are more than double the $20,000 per ton price assumed in the 2019 Heemskirk Tin Project Scoping Study.” Stellar said the strength of the market was due to global demand growth continuing to outpace supply. He said demand was increasing for reasons such as the coronavirus and the rise of remote working had spurred demand for computers and other home electronics.”As tin solder is the glue connecting everything electronic, this means increased demand for tin” , the company said. The continued demand for tin in traditional uses and the growing demand for tin for solar panels have also contributed to the strength of the market. Meanwhile, global supply had fallen in each of the past three years. on exploration drilling at Heemskirk. He said he continues to review other projects and workflows needed to bring Heemskirk to the completion of a bankable feasibility study I’m investigating. Stellar said it had 10 exploration licenses in the Northeast, covering 2,333 square kilometers, had two more licenses being processed by authorities and filed another in February. Most were prospective for “Victorian style orogenic gold and for intrusive gold systems”. The most recent area of ​​application was prospective for lithium, tin and other base metals. Stellar hired experienced geoscientist and gold explorer Josh Phillips in September to lead its Northeast exploration program. He reviewed license applications and analyzed data during the reporting period, identified more office targets and made initial field reconnaissance visits to two targets. Stellar said more reconnaissance visits and follow-up field explorations are planned throughout the calendar year. Gold prices have also been high lately. While you’re with us, did you know you can now sign up to get the latest news and daily headlines straight to your inbox? Register here.