Strongbow Exploration {TSX.V: SBW}
The Cornwall Council cabinet has voted unanimously in favour of a proposed one-million-British-pound investment into Strongbow Exploration Inc..
The proposed investment is subject to full council approval, and is scheduled to be voted on at a council meeting in late February, 2019. The proposed investment is also subject to the company completing a dual listing on London’s AIM exchange.
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018-12-21 08:51 ET – News Release
Mr. Richard Williams reports
CORNWALL COUNCIL PROPOSAL TO INVEST 1M POUNDS STERLING INTO STRONGBOW RECEIVES CABINET SUPPORT
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The Cornwall Council cabinet has voted unanimously in favour of a proposed one-million-British-pound investment into Strongbow Exploration Inc.
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The proposed investment is subject to full council approval and is scheduled to be voted on at a council meeting in late February, 2019. The proposed investment is also subject to the company completing a dual listing on London’s Alternative Investment Market (AIM) exchange, a process which is currently under way and expected to complete early in the new year. The terms of the investment will be subject to market conditions at the time the investment is completed.
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Richard Williams, Strongbow’s chief executive officer, stated: “We would like to thank Cornwall Council for its ongoing support of our initiative to get the South Crofty tin mine back into production. It is extremely reassuring to know that Cornwall recognizes the benefits, both economic and social, to the region and welcomes Strongbow’s work to reopen the mining industry in Cornwall.”
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Bob Egerton, Cornwall Council Cabinet portfolio holder for economy and planning, said: “The mining sector is one where Cornwall has a global reputation for exporting expertise and knowledge and the cabinet were clear in their desire to support this sector to restart production in Cornwall and bring with it much-needed high-value jobs. If successful, restarting mining at South Crofty could create over 300 jobs and have a significant impact in an area with high levels of deprivation. However, we are at an early stage and will be working with Strongbow to help bring their plans to fruition if the dewatering phase of the project goes well. Full council will make the final decision, but I very much hope that they will support the project and back mining in Cornwall.”
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About South Crofty
South Crofty is an iconic former-producing copper and tin mine located in the towns of Camborne and Pool, Cornwall, England.
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The first documented production history from South Crofty dates back to 1592, and it was the last tin mine to close in Cornwall in 1998.
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