Tinka Resources {TSX,V: TK} have won the coveted Mining Journal “Explorer of the Year 2017” award, after a successful year where they have substantially raised their resources at Ayawilca in Peru.
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To some it
Tinka Resources {TSX,V: TK} have won the coveted Mining Journal “Explorer of the Year 2017” award, after a successful year where they have substantially raised their resources at Ayawilca in Peru.
.For followers of the company it was not a surprise, they have consistently added to their resources throughout successful 2017 drill campaign, and the new estimate surprised most analysts to the upside, which is nice!
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The November 8th updated resource estimate came in at 42.7 million tons of zinc, and 10 million tons of tin. Given the recent price increases for both metals, particularly the former, Tinka used a lower cut-off grade.
Map of the project showing the old resource numbers
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The closure of five major zinc mines, reducing capacity by 500K tons per annum is clearly helping the momentum for zinc. One potential dark cloud on the horizon is that Glencore are considering opening mothballed zinc mines in the near future, as a result of the increased prices. They will be careful to support the current market rather than send the price retreating backwards of course.
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