Intention to float on the LSE Main Market

30 March 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

This announcement is an advertisement and not a prospectus for the purposes of the Prospectus Regulation Rules of the Financial Conduct Authority or otherwise and is not an offer of securities for sale in any jurisdiction, including in or into the United States, Australia, Canada, Japan or South Africa.

Neither this announcement, nor anything contained herein, shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information contained in  the prospectus (the "Prospectus") published by First Tin Plc ("First Tin" or the "Company") in connection with the admission ("Admission") of ordinary shares ("Ordinary Shares") to the standard listing segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market of the London Stock Exchange plc (the "London Stock Exchange"). The Prospectus published by First Tin is available for inspection on First Tin's website at www.firsttin.com, subject to certain access restrictions.

 First Tin Plc

Intention to float on the London Stock Exchange Main Market and Publication of Prospectus

First Tin, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce its intention to seek admission of its Ordinary Shares to trading on the Main Market of the London Stock Exchange .  It is expected that Admission will occur on Friday 8 April 2022 and the Company has today published its Prospectus.  On Admission, the Company's ticker will be 1SN.

First Tin is led by an experienced team of tin specialists, committed to the environmentally sensitive and low carbon development of advanced hard rock tin projects in conflict free, low political risk jurisdictions.

The Company has raised £20 million to execute its plan to bring its 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.

The Company is raising new capital through the issue of Ordinary Shares to institutional investors by way of a Placing and Subscription and UK retail investors through the PrimaryBid mobile app, available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.  Any shares taken up by retail investors will reduce the number of shares issued in the Subscription, but will not affect the total fundraise of £20m.

Highlights:

Experienced Board and management team:

·    First Tin is led by renowned global tin specialists with over 150 years of experience in tin exploration, development, mining, processing and commercialisation. All of which are focused on corporate governance, ESG and aligning shareholder and stakeholder interests

100% ownership of two advanced, low capex tin development projects:

·    First Tin's assets are located in low-risk, conflict-free jurisdictions of Germany and Australia. These Tier 1 assets are located near good infrastructure, with established reserves and simple mineralogy creating a quick path to production. Both assets also have active mining licenses granted over them. Together the assets represent the 5^th largest undeveloped tin reserve globally, outside Russia, Kazakhstan and the Democratic Republic of Congo  

Compelling CAPEX versus NPV Ratio:

·    According to recent third-party studies, the combined development CAPEX of both projects totals c. US$125m compared to a combined  NPV8 for both projects (at US$40,000 tin) of c.US$771m.  The post money market cap of First tin after the £20m fundraise will be approximately £80m  

Potential for immediate value to be created through achievement of near-term development milestones ahead of sustainable production and processing by 2025

·    Development studies will be completed over the next 18 months with production forecast in 2025. Recently completed third party studies have demonstrated robust economics at materially lower tin prices than are in existence today

Well positioned to take advantage of a growing market:

·    Global demand for tin has significantly increased in recent times driven by the global clean energy and technological revolutions. Given the very low physical inventory levels currently sitting at the London and Shanghai metal exchanges coupled with significant supply challenges being faced by leading tin producing countries such as Myanmar and Indonesia, the macro-outlook for the tin market remains robust. 

Providing assured provenance with a traceable, ESG compliant supply of a critical raw material:

·    First Tin is committed to best-in-class environmental responsibility with a 'leave no trace' philosophy including using low carbon and low waste production methods. An independent ESG Digbee Audit is already underway to independently verify and score First Tin in this area.

Defined long-term vision:

·    To become a leading global tin producer that supplies fully traceable and verifiable tin units into fast-growth global industries which have a high requirement for tin

Thomas Buenger, Chief Executive Officer, commented:

"The proposed Admission of First Tin is very exciting. The Tin industry is currently experiencing a consistent supply deficit, alongside significant increase in demand, with the potential for demand to double by 2050. This is because tin is a vital component of semiconductors, electric vehicles, and other renewable energy technologies. While these sectors are receiving massive investment, we are seeing the global inventory of tin get smaller by the day, and Europe has very little supply. It is for this reason that we believe that there is no better time to list on the London Stock Exchange, bringing assured provenance to a market which otherwise relies on sourcing this critical metal from jurisdictions which are experiencing conflict or have high political risk.

"Our aim is to supply a sustainable answer to the global supply shortage many industrial users of tin are currently facing. This Admission will provide us with capital that can accelerate the development of our two tin projects in order to supply fully traceable and verifiable tin units into fast-growth global industries. We look forward to welcoming new investors at this important time for the Company and to sharing a highly prosperous future."

Board:

Thomas Bunger (Chief Executive Officer) - Base metal, copper, PGM, recycling and semiconductor industry specialist. Former board member and Chief Operating Officer, Chief Technical Officer of Aurubis AG, Germany's largest copper and tin producer

Charles Cannon Brookes (Non-Executive Chairman) -  >20 years' regulatory and investment experience. He is a Director of Arlington Group Asset Management Limited (AGAM) and has successfully led several IPO and RTO transactions

Ingo Hofmaier (Non-Executive Director) - >20 years' corporate finance and investment banking experience. Hannam & Partners, Capgemini, Wienerberger AG, Rio Tinto. Multiple complex joint-venture, M&A, equity investments, capital markets and corporate finance transactions

Seamus Cornelius (Non-Executive Director) -  >25 years' legal and commercial negotiation and crossborder transaction experience in the resources sector. Former partner in law firm and based in China since 1993. He is currently the Executive Chairman of Danakali Ltd, and Non-Executive Chairman of Buxton Resources Ltd, Element 25 Ltd, and Duketon Mining Ltd

Catherine Apthorpe (Non-Executive Director) - Solicitor and company secretary. >17 years' post-qualified experience, >10 years in-house experience in the mining sector. Fundraisings, due diligence exercises, acquisitions, strategic investments, project management and debt finance. Top 100 Global Inspiration Women in Mining 2016

Management

Mark Thompson (Commercial Development Director) - Acknowledged tin market expert, expert witness, consultant. >25 years resources sector trading, management, and investment experience. Former head of tin trading at Trafigura. Currently Executive Vice Chairman of Tungsten West, and Non-Executive Director of Meridian Mining

Tony Truelove (Technical Director) -  >35 years' experience in exploration and mining geology worldwide. Globally renowned tin expert and proven "minefinder" with track record of discovery. Formerly at Billiton, Newcrest and Delta Gold, and Managing Director in junior mining

Marco Roscher (MD Germany) - PhD in geology from Freiberg University with 16 years' experience in academic research and exploration for tin, base-metal and precious metals with excellent connections to local administration, public bodies and authorities. Expert in Saxonian geology and mineralization with particular expertise in "big-data" manipulation and analysis incl. GIS, artificial neural networks, geo-mathematics and visualization

Rob Kidd (MD Australia) -  >45 year's specialist construction, mining and operations experience. Owned, built, operated, and sold, the Sardine Tin Mine, North Queensland. Worked on Irvinebank tin mine. Holds Mine Managers Certificates for South Africa, Queensland and NSW. Formerly Managing Director in junior mining

For further information visit http://www.firsttin.com/

 Enquiries:

Notes to Editors

First Tin 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.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

Important legal information

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for, or otherwise invest in, securities to any person in the United States, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The Ordinary Shares referred to herein may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The possible offer and sale of Ordinary Shares referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. Subject to certain exceptions, the Ordinary Shares referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. There will be no public offer of the Ordinary Shares in the United States, Australia, Canada, Japan, or elsewhere