Aus Tin buys new project

ASX-listed junior Aus Tin Mining has signed a nonbinding heads of agreement to acquire privately held McDermott Mining to gain ownership of the Granville tin project, in Tasmania. Under the terms of the agreement, Aus Tin Mining would pay A$1.3-million for the unlisted McDermott Mining, subject to the completion of a due diligence and the receipt of all necessary approvals.