First Tin PLC Receives Revised Non-Binding Takeover Proposal from Metals X Limited

First Tin PLC received a revised, non-binding cash takeover proposal from Metals X Limited for the shares it does not already own, at 16.5 pence per share. First Tin’s board said it would be minded to recommend the proposal, subject to agreement on specific terms and the structure of a distribution of the company’s German development assets to existing shareholders. The distribution would depend on completion of the potential offer; discussions and Metals X’s confirmatory due diligence are ongoing.