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Elementos Ltd (ASX:ELT, OTC:ELTLF) has maintained its buy rating from BW Equity, updating its 12-month share price target to $1 per share. The analyst has reiterated its buy rating for the company following booming tin prices, stable geography, and robust margin profile at Oropesa.
Elementos Ltd (ASX:ELT, OTC:ELTLF) has begun an optimisation study at its wholly‐owned Oropesa Tin Project in Spain to reassess the planned annual mining rate and throughput of the processing plant and supporting infrastructure. The study will confirm the basis of design for the definitive feasibility study (DFS), by re‐optimising the company's May 2020 updated economic study, which already positioned Oropesa as a low-cost, globally significant new tin project.
Elementos Ltd (ASX:ELT, OTC:ELTLF) has received an upgrade in target price from BW Equities after the company exceeded expectations with a 50% increase in resources at its 100%-owned Oropesa Tin Project in Spain to 18.86 million tonnes at 0.40% tin (Sn) at a 0.15% Sn cut-off. This includes a 78% increase in the measured and indicated MRE to 16.21 million tonnes from 9.34 million tonnes reported in 2018.
Elementos Ltd (ASX:ELT, OTC:ELTLF) has exceeded initial expectations with a 50% increase in the total mineral resource estimate (MRE) at its 100%-owned Oropesa Tin Project in Spain to 18.86 million tonnes at 0.40% tin at a 0.15% tin cut-off. It has also notched up a 78% increase in the measured and indicated MRE to 16.21 million tonnes from 9.34 million tonnes reported in 2018.
Elementos Ltd has had its buy recommendation reiterated by BW Equities as it continues to intersect new zones of near-surface tin mineralisation from diamond drilling at its flagship Oropesa Tin Project in Spain. The company provides investors with exposure to a tin project in a stable geographic region, with a defined economic assessment which shows very strong fundamentals at current tin prices, according to BW Equities.
Elementos Ltd (ASX:ELT, OTC:ELTLF) has returned another strong shallow intersection of 82.7 metres at 0.27% tin from 11.3 metres at the flagship Oropesa Tin Project in Spain with the possibility that it links other previously defined zones of mineralisation. The result from drill hole Expn_061A included 18 metres at 0.39% from 11.3 metres and 37.5 metres at 0.30% from 56.5 metres.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) is seeking to become a major global tin producer to support “an electric tomorrow” with its two wholly-owned world-class tin projects in Spain and Australia. The company has two tin projects – its flagship Oropesa Tin Project in Andalucia, Spain, and its Cleveland Tin Project in Tasmania, Australia - with large JORC resource bases and further exploration potential in mining-friendly (non-conflict) jurisdictions.
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Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) board of directors have approved moving the development of the Oropesa Tin Project (Project) directly to a Definitive Feasibility Study (DFS). This decision was taken in recognition of the extensive work undertaken to date, as well as to take advantage of the opportunity to accelerate the development timeframe of the project in a strong tin market.
Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has been awarded a grant of up to A$70,000 under the Tasmanian Government's Exploration Drilling Grant Initiative (EDGI) program as a part of its plan to drill four exploration holes at its wholly-owned Cleveland Tin Project. The grant is comprised of $50,000 to co-fund direct drilling costs and $20,000 for helicopter support if required.
Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has intersected further shallow zones of tin mineralisation in a drilling campaign designed to increase confidence in the mineral resource at the flagship Oropesa Tin Project in Spain. With 37 of 44 planned holes now drilled, assays for another two diamond drill holes have been received from the ALS laboratory in addition to the 27 diamond drill hole results previously reported from this program.
Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) continues to confirm significant zones of mineralisation in the current drilling campaign at its flagship Oropesa Tin Project in Spain. The company is on track to complete the drilling program objectives with 77% drill holes completed with the program reduced to 44 holes from 48 following a refinement process.
Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has started feasibility development programs at its flagship Oropesa Tin Project in Spain consisting of a series of metallurgical, geotechnical and hydrogeological investigations, supported by laboratory test work and engineering studies. Funded by proceeds from the company's recent capital raising, the studies will be run in parallel with the current resource drilling program and planned mineral resource estimate update.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has confirmed further zones of tin mineralisation in its current drilling and optimisation campaign aimed at increasing the confidence of the mineral resource at its flagship Oropesa Tin Project in Spain. The company commenced a 5,000-metre program of diamond drilling across 48 holes in early October 2020 as part of a wider optimisation program.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) is taking big steps to capitalise on strong tin market fundamentals, including high prices, through exploration, development and production of high-grade tin projects in stable jurisdictions. The company's portfolio comprises near-term development and exploration assets, including the Oropesa Project in Spain, one of the world's largest undeveloped, open-cut mineable tin deposits.
Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has received firm commitments from institutional, sophisticated and accredited investors to raise A$6.1 million through a placement to progress the development of its wholly-owned Oropesa Tin Project in Spain. Under the strongly supported placement, the company will issue fully paid ordinary shares at a price of A$0.01 per share.
Elementos Ltd's (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) strategy to become a significant tin producer is gathering strong momentum as it pushes ahead with development strategies at both its wholly owned projects at a time when the LME tin metal price is near ten-year highs. Tin metal supply disruptions and strong demand driven by global economic stimulus have pushed the LME tin prices to ten-year highs trading over US$28,000 per tonne compared to US$13,450 per tonne a year ago.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) maintains its primary focus on the Oropesa Tin Project in Spain with ongoing exploration drilling and optimisation work supported by strengthening tin market fundamentals. Following the completion of an economic study in May 2020, the company has been seeking to further optimise potential financial returns at Oropesa – one of the world's largest, undeveloped, open-cut minable tin deposits with access to world-class infrastructure.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has been as much as 45% higher to A$0.017 today after results from another two holes at the flagship Oropesa Tin Project in Spain confirmed zones of tin mineralisation up to 31.1 metres thick with assays of up to 12.9% tin. The company began a 5,000-metre program of diamond drilling across 48 holes at Oropesa in October 2020 as part of a wider optimisation program designed to increase the project's overall resource, annual production rate and mine life.
Elementos Ltd (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) has returned high-grade tin intersections that confirm mineralisation continuity in its campaign to convert existing inferred resources into indicated resources at its flagship Oropesa Tin Project in Spain. According to the company, the drilling program is delivering some of the highest tin grades in the current program and amongst the highest ever reported at the project.