CORNISH METALS UPDATES THE PEA OF THE SOUTH CROFTY TIN MINE
Cornish Metals. (AIM / TSX.V: CUSN)
Reported the results of a detailed review and updated PEA for its wholly owned and permitted South Crofty critical mineral project in Cornwall, United Kingdom, the highest grade known tin resource not in production and potentially the first primary producer of tin in Europe or North America.
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Cornish Metals South Crofty headframe
CORNISH METALS COMPLETES AN UPDATED PEA OF THE SOUTH CROFTY CRITICAL MINERAL PROJECT WITH AN NPV OF £180 MILLION AND 20% IRR
Vancouver, September 29, 2025
Cornish Metals Inc. (AIM/TSX-V: CUSN) (“Cornish Metals” or the “Company”) is pleased to report the results of a detailed review and updated Preliminary Economic Assessment study (“PEA” or “Study”) for its wholly owned and permitted South Crofty critical mineral project in Cornwall, United Kingdom, the highest grade known tin resource not in production and potentially the first primary producer of tin in Europe or North America.
Since the highly successful £57 million fundraise earlier this year, bringing in the UK’s National Wealth Fund and further investment from Vision Blue Resources, the pace of development has quickened and the project review has advanced.
While on-site construction is already underway, the team rigorously validated key assumptions, optimised project parameters, and further refined cost estimates, significantly advancing and de-risking multiple elements of the project design and execution plan.
This updated PEA, constrained by the current Mineral Resource, which was reported in accordance with National Instrument 43-101 (“NI 43-101”) with an effective date of 6 September 2023, confirms South Crofty’s compelling economics: an after-tax Net Present Value (“NPV6%“) of £180 million (US$235 million) and Internal Rate of
Return (“IRR”) of 20%, underpinned by a low-cost operating profile.
curve and among the lowest cost producers.
approximately £70 million in the first five years of full production.
This Study is constrained by the current NI 43-101 Mineral Resource, supporting a 14-year LOM. Importantly, the South Crofty Mineral Resource remains open at depth, along strike and within the current mine envelope.
To read the full news release please click HERE
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds no shares in Cornish Metals.
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