First Tin Plc (GB:1SN)
LSE:1SN
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First Tin Plc
(LSE:1SN)
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Rating:49Neutral
Price Target:
12.50 p
▲(20.19% Upside)
Action:Reiterated
Date:04/16/26
The score is driven primarily by weak financial performance: a pre-revenue profile with widening losses and accelerating cash burn increases execution and financing risk, partially offset by a low-leverage balance sheet with a sizeable equity base. Technicals are mixed (stronger long-term trend but negative MACD and below the 50-day average), while valuation is constrained by a negative P/E and no dividend support.
Positive Factors
Low financial leverage
A near-zero debt-to-equity position and a sizeable equity base materially reduce bankruptcy and interest-rate risk for a development-stage miner. This durable capital structure provides flexibility to fund project milestones, negotiate JV terms and withstand multi-quarter development timelines without immediate debt servicing pressure.
Negative Factors
Pre-revenue with widening losses
Operating without revenue and with sharply larger net losses materially increases execution and financing risk over the medium term. Persistent losses erode equity, force frequent capital raises or dilution, and mean the company must demonstrate project de-risking before converting to sustainable cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
A near-zero debt-to-equity position and a sizeable equity base materially reduce bankruptcy and interest-rate risk for a development-stage miner. This durable capital structure provides flexibility to fund project milestones, negotiate JV terms and withstand multi-quarter development timelines without immediate debt servicing pressure.
Read all positive factors
First Tin Plc (1SN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£69.36M
Dividend YieldN/A
Average Volume (3M)348.38K
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees18
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding541,868,300
10 Day Avg. Volume517,565
30 Day Avg. Volume348,376
Financial Highlights & Ratios
PEG Ratio3.03
Price to Book (P/B)0.87
Price to Sales (P/S)0.00
P/FCF Ratio-2.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)£68.51M
First Tin Plc Business Overview & Revenue Model
Company Description
First Tin Plc operates as an exploration and development group focused on tin and associated metals in Germany and Australia. Its flagship assets include the Tellerhäuser Project in Saxony, Germany; and the Taronga Project in New South Wales, Aust...
How the Company Makes Money
First Tin Plc’s revenue model is not publicly available in the provided context; null....
First Tin Plc Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Jan 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -38.85K | 0.00 | 0.00 | -443.00 | -25.51K | -87.03K |
| EBITDA | -9.04M | -8.83M | -3.28M | -4.86M | -2.83M | -1.57M |
| Net Income | -11.04M | -1.07M | -2.96M | -1.22M | -2.91M | -1.60M |
Balance Sheet | ||||||
| Total Assets | 50.71M | 123.46M | 104.22M | 102.11M | 36.09M | 18.18M |
| Cash, Cash Equivalents and Short-Term Investments | 9.01M | 12.46M | 28.46M | 58.21M | 8.50M | 1.36M |
| Total Debt | 0.00 | 13.46M | 642.00 | 642.00 | 4.87K | 6.01M |
| Total Liabilities | 573.22K | 27.52M | 14.13M | 11.65M | 15.38M | 9.85M |
| Stockholders Equity | 50.14M | 95.94M | 90.09M | 90.46M | 20.71M | 8.33M |
Cash Flow | ||||||
| Free Cash Flow | -31.80M | -33.76M | -33.67K | -13.91M | -7.07M | -2.91M |
| Operating Cash Flow | -10.69M | -4.46M | -2.98K | -3.61M | -3.09M | -1.26M |
| Investing Cash Flow | -29.85M | -24.94M | -30.73K | -10.32M | -3.99M | -1.65M |
| Financing Cash Flow | 93.55M | 12.04M | -35.00 | 61.66M | 13.96M | 1.97M |
First Tin Plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | £486.59M | -0.10 | 233.54% | ― | ― | -232.99% | |
49 Neutral | £69.36M | -28.64 | -6.85% | ― | ― | ― | |
48 Neutral | £46.10M | 0.08 | 0.25% | ― | ― | 44.90% | |
47 Neutral | £96.38M | -2.48 | -17.08% | ― | ― | ― | |
46 Neutral | £130.65M | -19.26 | -15.04% | ― | ― | 36.62% | |
41 Neutral | £64.38M | -42.09 | -21.95% | ― | ― | -135.71% |
* Basic Materials Sector Average
GB:1SN
First Tin Plc
12.80
6.80
113.33%
GB:ALL
Atlantic Lithium
16.35
9.45
136.96%
GB:JLP
Jubilee Metals Group
2.85
-1.05
-26.92%
GB:KOD
Kodal Minerals
0.31
-0.01
-3.13%
GB:ZNWD
Zinnwald Lithium Plc
8.68
2.63
43.47%
GB:TUN
Tungsten West Plc
38.80
34.30
762.22%
First Tin Plc Corporate Events
Business Operations and StrategyFinancial Disclosures
First Tin boosts confidence in Taronga resources and outlines copper-silver upside
Positive
Apr 30, 2026
First Tin has reported an updated mineral resource estimate for its 100%-owned Taronga Tin Project in New South Wales, showing a significant upgrade of Inferred Resources into higher-confidence Measured and Indicated categories. The combined Measu...
Business Operations and Strategy
First Tin Adds Tamesis Partners as Joint Broker to Support Tin Growth Strategy
Positive
Apr 23, 2026
First Tin PLC has appointed Tamesis Partners LLP as a joint corporate broker, adding to its existing relationships with Arlington Group Asset Management and Zeus Capital. The move is expected to strengthen the company’s market support and in...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
First Tin strengthens finances and resource base as Taronga and German tin projects advance
Positive
Feb 25, 2026
First Tin reported interim results for the six months to 31 December 2025 showing a strengthened balance sheet after a £6.3 million equity raise, with cash rising to £9.03 million and net assets to £50.27 million, while narrowing it...
Business Operations and Strategy
First Tin to Present at Yellowstone Advisory Private Investor Event
Positive
Feb 20, 2026
First Tin PLC will showcase its strategy and projects as CEO Bill Scotting presents at the Yellowstone Advisory Private Investor evening in London on 25 February 2026. The event offers the company direct engagement with private investors as it adv...
Business Operations and StrategyFinancial Disclosures
First Tin to Release HY25 Interim Results and Host Investor Presentation
Neutral
Feb 20, 2026
First Tin PLC, a tin development company with projects in Germany and Australia, is focused on supplying ethically sourced tin from conflict-free, low political risk jurisdictions. The company targets best-in-class environmental standards as it ad...
Business Operations and StrategyFinancial Disclosures
First Tin Uncovers Silver and Copper Upside at Taronga Tin Project
Positive
Feb 12, 2026
First Tin Plc has identified significant silver and copper mineralisation at its 100%-owned Taronga Tin Project in New South Wales, with recent drilling revealing both moderate-grade by-product metals associated with existing tin zones and discret...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.