TinOne Resources Executive Chairman Chris Donaldson: Tin is the Forgotten Battery Metal
TinOne Resources (TSXV:TORC) CEO Chris Donaldson discussed tin, an element that is currently experiencing low supply levels and high prices. The Vancouver-based company is a well-funded mining exploration business engaged in the acquisition and development of highly prospective, underexplored tin assets in tier one jurisdictions.
Donaldson noted, “Tin is an absolutely interesting market right now — it’s often considered the forgotten battery metal. It’s a small market, so you don’t hear much about it until it gets that squeeze. Tin’s often considered one of the most cyclical of the metals.”
Donaldson also discussed the supply and demand dynamics that drive the market and the impact on investors. “Right now it’s an absolutely perfect setup for an investor,” he said. “First of all, 75 percent of tin supply comes from China, Myanmar, the Democratic Republic of Congo and Indonesia — all dubious jurisdictions with various challenges. Compound that with China withholding the metal from the market and using it for themselves. On the supply side, there’s not a lot coming to the market.”
Discussing the demand for tin, he stated, “Over half of the use for tin is in soldering, so for anything electric. Demand has increased for other battery metals, but really tin is the glue that holds everything together, and that is not expected to falter anytime soon.”
As for TinOne’s projects, Donaldson noted, “We’re in a very good jurisdiction in Australia, specifically in Tasmania — a tier one jurisdiction with very good access. We’re in areas where historically there was logging and forestry, so we can drive right up to our targets. Great Pyramid has an existing historic resource on it, which was basically abandoned in the mid-1980s, when the price of tin fell below US$5,000 a tonne.”
He continued, “So we’re currently drilling on that right now. It’s got about 10,000 tonnes contained within 40 meters of the surface. We’re drilling through that, (and) we’ve got 17 holes planned to reconfirm the resource and see if we can extend it down and increase what was already discovered there. That will go for the next three of four months.”
Touching on the company’s finances, Donaldson noted, “We raised about $5 million a couple of months ago, and when we went public, we still had the majority of that. We just started our campaign on Great Pyramid and have enough to satisfy that for the balance of the year — so we’re in good shape in terms of cash.”
Speaking to the investment opportunity, he commented, “We’re just starting to get out the tin story. It’s relatively unknown compared to say, gold and lithium. In a month or two, we start getting results from the project — so you’re getting into the ground level right now. Tin is vital in the electronics business, but it’s also really important in the battery business as well.”
Watch the full interview of Executive Chairman Chris Donaldson above.
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