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Strongbow, Orion sign tin warrant offtake agreement

Strongbow Exploration (TSXV:SBW) has entered into a conditional 5% “synthetic” tin warrant offtake agreement with Orion Mine Finance affiliate, OMF Fund II.
Strongbow, Orion sign tin warrant offtake agreement Strongbow, Orion sign tin warrant offtake agreement Strongbow, Orion sign tin warrant offtake agreement Strongbow, Orion sign tin warrant offtake agreement Strongbow, Orion sign tin warrant offtake agreement

Strongbow's South Crofty tin mine in Cornwall

Staff reporter

Under the 10-year agreement, OMF will buy London Metals Exchange (LME) tin warrants from Strongbow for tin refined to LME Approved Brands standards equal to 5% of the South Crofty mine's tin production.

The agreement is conditional to OMF investing at least US$3 million in Strongbow common shares and Strongbow's dual listing on the London Stock Exchange's AIM market.

Strongbow CEO Richard Williams said the agreement allowed the company to work towards its AIM listing before the end of the year.

In January, Strongbow sold a 1.5% net smelter royalty returns royalty to its largest shareholder Osisko Gold Royalties for C$7.17 million (US$5.5 million), with the proceeds used to build a water treatment plant at the mine in Cornwall, UK.

The company's shares jumped 25.93% on the news to C17c.