Update: Study supports further investment in tin
Avalon’s Conceptual Redevelopment Study (CRS) on its East Kemptville asset provides sufficient confidence to advance its understanding of this promising tin project, one of only a few available for development outside Asia. Capex has been initially set at c US$157m (excluding sustaining capex) and includes a small tin refinery to produce ingots, rather than lower-value concentrates. We see East Kemptville as the leading asset in Avalon’s five-strong project portfolio. However, we also note the potential for lithium chemicals to be generated from its Separation Rapid project to feed into the growing lithium battery story surrounding electrical vehicle manufacture. Subject to financing and further technical work, management expects both projects to provide Avalon’s first cash flows as early as 2018.Avalon Advanced Materials is a mineral exploration and development company with a primary focus on rare metals and minerals. Co. owns six rare metals and mineral projects in Canada, three of which are under active development, but none of which are in production. It also owns royalty interests in two exploration projects which are not in production. For at least the last three years Co. has expended substantially all of its efforts on the development of Nechalacho Rare Earth Elements Project, its East Kemptville Tin-Indium Project and Separation Rapids Lithium Project.
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