South Crofty is considered the most important tin mine in the UK and hosts one of the highest grade tin resources worldwide.

Callinex shares were up 20% after the company announced new high-grade copper, gold, silver and zinc lenses at its Pine Bay project.

Fitch predicts prices will rise to around $2,600/tonne by the end of the year.

Company has signed an Impacts and Benefits Agreement with the Shuar communities of Warints and Yawi, its indigenous partners, for the copper project.

The project is located immediately south of the Red Chris mine, which is viewed by the company as a potential tier 1 asset.