Aus Tin MiningLtd. said April 11 that its subsidiary, Ten Star Mining Pty. Ltd., executed a two-year off-take agreementwith Traxys Europe for all of the tin concentrate from the company's tin project in Tasmania,Australia.
Meanwhile, Mineral Resources Tasmania has renewed the company'smining leases, 21M/2003 and 9M/2006, and the transfer of the leases to Ten Starhas been processed.
A formal notification of the transfer will finalize the of the tin project.
Aus Tin has terminated the funding agreement with Australian Mineral Investments Pty.Ltd. and is now working on an alternative funding package.
The company intends to use the funds for restarting operationsat Granville as well as for an anticipated expansion.