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First Tin PLC - tin development company with advanced, low capex projects in Germany and Australia - Pretax loss widens to £3.2 million for 2022 from £1.2 million in 2021, as operating loss widens to £3.2 million from £1.3 million. Says the widened loss reflects a ‘ramp up in operational activities’. Administrative expenses increase to £3.2 million from £1.3 million a year earlier. Looking ahead, expects a surge in demand for tin in the next decade and expects higher prices to emerge in future periods.
Chief Executive Officer Thomas Buenger said: ‘2022 has been a year of a strong operational performance for First Tin at both our assets in Australia and Germany. We expect 2023 to be another busy and exciting year for us where we will continue to build on the momentum achieved last year to add further value to our assets.’
Current stock price: 6.54 pence each, up 0.5% on Wednesday around midday in London
12-month change: down 78%
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