10:59 AM EDT, 10/09/2026 (MT Newswires) -- Metals X confirmed that it submitted a preliminary, nonbinding indicative cash offer for the First Tin (1SN.L) shares it does not already own. The Australian tin producer, which owns a 29.95% stake in First Tin, said Friday that there is no guarantee that any transaction will be made. Metals X has until Nov. 6 to either make a firm offer or walk away under the UK Takeover Code. In an earlier filing, London-listed tin development company First Tin said it received an unsolicited takeover proposal of 0.15 pound sterling per share from Metals X and that its board is carefully considering the offer.

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