Cornish Metals (AIM / TSX.V: CUSN)

Announced that Mr. Owen Mihalop, Chief Operating Officer (“COO”), has left the Company with effect from April 25^th, 2025 in order to pursue new opportunities.

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Comment.

Despite the friendly language, this looks like a forced change to me.

Otherwise why announce after the event? This does not look like a planned change, with no replacement being named. 

I have a feeling all is not going to plan at South Crofty, maybe this is the reason for this sudden change?

News about the shaft remediation and dewatering is scarce, and the company never officially denied the rumours of water ingress posted on blogs last year.

Cornish Metals Announces Management Change

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Cornish Metals (TSX.V / AIM: CUSN)

Announced that it has purchased approximately 4.5 acres of land from Cornwall Council.

This land is immediately adjacent to existing surface land owned by Cornish Metals and provides direct access to the main road.

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Cornish-metals-south-crofty-sunset-Greg-Martin-Cornwall-Live

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Cornish Metals (AIM / TSX-V: CUSN)

Reported results from the last eight drill holes of the recently completed 14-hole / 8,993m drilling programme at its Wide Formation target, located approximately 1km south of the South Crofty mine. 

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Cornish Metals (AIM / TSX-V: CUSN)

Announced that it has entered into a binding agreement with Elemental Altus Royalties Corp. for the sale of the royalty interests that the Company holds on the Mactung and Cantung tungsten projects located in Northern Canada for a total cash consideration of US$4,500,000.

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Comment

This looks like an excellent deal for CUSN. 

These assets were on the books for nil and their sale reduces the need for equity dilution in the near future whilst the shaft work is ongoing.

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CORNISH METALS ANNOUNCES SALE OF MACTUNG AND CANTUNG ROYALTIES
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Vancouver, July 21, 2024

Cornish Metals Inc.(AIM / TSX-V: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that it has entered into a binding agreement (the “Agreement”) with Elemental Altus Royalties Corp. (“Elemental Altus”) for the sale of the royalty interests that the Company holds on the Mactung and Cantung tungsten projects located in Northern Canada (together, the “Royalties”) for a total cash consideration of US$4,500,000 (the “Transaction”).

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Ken Armstrong, Interim CEO and Director of Cornish Metals, stated:

“The sale of the Mactung and Cantung royalties follows Cornish Metals’ recently announced sale of the Nickel King project and further demonstrates our priority and focus on advancing the Company’s wholly owned and fully permitted South Crofty tin project, in the UK, towards commencement of production in 2027.”

Under the terms of the Agreement:

· Elemental Altus will pay Cornish Metals a cash payment of US$3,000,000 on the Transaction close date.
· Elemental Altus will pay Cornish Metals a cash payment of US$1,500,000 12 months following the Transaction close date.
· Elemental Altus will enter into an agreement with Teck Resources Limited (“Teck”) and assume the obligation to pay a C$1,500,000 deferred consideration to Teck on the earlier of a development decision at Mactung or re-commencement of commercial production at Cantung. The agreement with Teck is a condition of closing.

The Royalties were acquired by the Company in March 2016 for C$1,500,000 and consist of:
· The Mactung royalty: a 4% net smelter returns royalty on the Mactung tungsten project, which straddles the border between Yukon and Northwest Territories (“NWT”).

The Mactung project is an advanced stage exploration project owned by Fireweed Metals Corp. One half of the Mactung Royalty may be purchased by
the property owner (to reduce the royalty to 2%) at any time for C$2,500,000.
· The Cantung royalty: a 1% net smelter returns royalty on the Cantung tungsten project, which is located in western NWT. Cantung operated intermittently from 1962 until it closed in 2015.

The Royalties have a book value of nil.

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To read the full news release, please click HERE

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To read our full terms and conditions, please click HERE

Cornish Metals (AIM/TSX-V: CUSN)

A mineral exploration and development company focused on advancing the South Crofty tin project in Cornwall, to a construction decision, reported results from the first six drill holes of the ongoing 9,000 metre Carn Brea drill programme.

All six drillholes intersected the Wide Formation lode structure.

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Cornish Metals – South Crofty tin mine, Cambourne, Cornwall

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Cornish Metals (AIM / TSX.V: CUSN)

A mineral exploration and development company focused on advancing the South Crofty tin project located in Cornwall, United Kingdom, to a construction decision, is pleased to provide an update on the progress of activities and outlook for 2024.

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Cornish Metals (AIM / TSX.V: CUSN)

Reported that it has commenced a 14-hole / 9,000 m exploration drilling programme at the Wide Formation target in the Carn Brea South exploration area, located along the southern boundary of the mine permission area on its South Crofty Tin Project located in Cornwall, United Kingdom,

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Cornish Metals         TSX.V : CUSN
Stage                         Exploration
Metals                       Tin, copper
Market cap                C$102 m   @ 19c
Location                    Cornwall, United Kingdom

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CORNISH METALS COMMENCES 9,000 METRE DRILLING PROGRAMME AT WIDE FORMATION TARGET, SOUTH CROFTY TIN PROJECT

Vancouver, September 19, 2023 Cornish Metals Inc. (AIM / TSX.V: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on its South Crofty Tin Project (“South Crofty” or the “Project”) in Cornwall, United Kingdom, is pleased to report that it has commenced a 14-hole / 9,000 metre (“m”)
exploration drilling programme at the Wide Formation target in the Carn Brea South exploration area, located along the southern boundary of the South Crofty underground mine permission area.

The drill programme is designed to test the geometry and the continuity of tin mineralisation within the recently discovered Wide Formation target (see news release dated January 10, 2023).

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Key Points

• The Wide Formation represents a high-grade tin target inferred to lie parallel to, north of, and beneath the Great Flat Lode;
• Discovery hole CB21-002 intersected 2.77m grading 0.99% tin (“Sn”) within a 12.14m wide zone of strong alteration and disseminated tin mineralisation;
• The alteration style in the Wide Formation, comprising pervasive tourmaline and quartz (termed “blue peach”), is similar in character to that associated with No 8 Lode, one of the most prolific tin producing lodes in the latter years of operation of the South Crofty mine;
• The drill programme will test an area measuring 2,500m along strike (northeast to southwest) and 500m downdip (north to south).

The Great Flat Lode district comprised a series of copper and tin mines that covered a strike length of approximately 5 kilometres (“km”).

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Richard Williams, CEO and Director of Cornish Metals, stated;

“We are very excited to start this drill programme, testing what we believe represents a new district-scale target that is only 500m – 1,000m south of the Tuckingmill Decline at South Crofty.

 

“It reflects the opportunity to make new discoveries close to the South Crofty underground infrastructure and, if the programme is successful, we believe there is
potential to not only grow the Mineral Resource base, but also to potentially expand production rates if the project advances through to mine development.”

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.
.

.

Disclosure
At the time of writing the author holds no shares in Cornish Metals.

To read our full terms and conditions, please click HERE

Cornish Metals (TSX-V / AIM: CUSN)

Announced high grade tin assay results from the recently completed metallurgical drill programme at South Crofty Tin Project, Cornwall, UK.

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Cornish Metals South Crofty mine, Cornwall, England.

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Cornish Lithium

A private lithium company in Cornwall, UK, has sent out an urgent plea in order to try and raise up to £10 million to continue their lithium exploration programme in Cornwall, in the West of England.

The company CEO blames a lack of government assistance.

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Cornish Lithium in Urgent Plea for £10 million

It’s very sad to see one of only two British Lithium projects is in financial trouble.

The two companies are Cornish Lithium, and British Lithium, and they are both based in Cornwall, in the west of England.

Cornish Lithium is the company desperately seeking funds, and blaming the government for lack of financial assistance, as they would be providing lithium produced in Britain, which the country so desperately needs for the EV revolution.

The full story can be read here

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Ironically, just as Cornish Lithium were announcing their appeal for help, British Lithium signed a deal with French company Inverys, who will take an 80% stake in their lithium project, also located in Cornwall.

It’s so sad to see the French taking such a large percentage of a British mining project, you have to question why time and time again we British give away ownership of national assets?  Thames Water is a timely example!

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Cornish Metals (TSX.V / AIM: CUSN)

Provided an update on progress at the South Crofty Tin Project located in Cornwall, SW England.

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Cornish Metals (TSX. V / AIM: CUSN)

Provided an update on progress at the South Crofty Tin Project located in Cornwall, SW England.

Tin is a Critical Mineral as defined by the UK, USA, and Canadian governments, but there is no primary tin production in Europe or North America.

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CORNISH METALS PROVIDES SOUTH CROFTY TIN PROJECT UPDATE

Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”) is pleased to provide an update on progress at the South Crofty Tin Project (“South Crofty” or the “Project”), located in Cornwall, SW England.

Background
• Tin is a Critical Mineral as defined by the UK, USA, and Canadian governments, but there is no primary tin production in Europe or North America.

Cornwall is one of the world’s major past producing tin provinces;

• The Company is targeting production in 2026, coinciding with projected deficits in tin supply;
• Responsible sourcing of critical minerals and security of supply are key factors in the energy transition and technology growth;
• South Crofty is an historic, high-grade, underground tin mine that operated since the sixteenth century until its closure in 1998, and benefits from the presence of multiple shafts that can be used for future operations;
• It is the 4th highest grade tin resource globally, with a Mineral Resource grade of 1.6% tin (equivalent to 4.4% copper at current metals prices).

The other three tin projects; Bisie in DRC, San Rafel in Peru, and Renison Bell in Tasmania (similar grade to South Crofty), are all producing underground tin mines;
• The Project possesses Underground Planning Permission (mine permit) valid to 2071, full Surface Planning Permission to construct a mine water treatment plant, new processing facilities, all necessary site infrastructure, and an Environmental Permit to dewater the mine;
• The Company completed a £40.5 million funding in May 2022, the use of proceeds for which are to construct the mine water treatment plant, dewater the mine, and complete a Feasibility Study;
• South Crofty benefits from strong local community and regional and national government support.

The Project could generate 250 – 300 direct jobs.

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Richard Williams, CEO of Cornish Metals, stated;

“We have made very good progress over the last eight months, building an experienced and highly motivated team at South Crofty.

 

“The Company remains on track to commission the mine water treatment plant in June this year, with the objective of commencing full scale dewatering operations in July.

 

Construction costs for the mine water treatment plant remain in line with previous guidance of £6.5m to £7.0m.

 

“In addition to the mine dewatering programme, ongoing metallurgical, feasibility study and exploration work will provide news flow for Cornish Metals through 2023.”

 

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Mine Water Treatment Plant

The mine water treatment plant (“MWTP”) is designed to treat 25,000m3 of mine water per day. At this rate, mine dewatering is estimated to take 18 months, through to the end of 2024.

Treated mine water will be discharged into the Red River via the Dolcoath Deep Adit.

Since South Crofty closed in 1998, untreated mine water has directly entered the river, so  dewatering the mine and treating the water will have a positive effect on the Red River water quality.

Wet commissioning is expected to commence at the end of May with
completion due in June 2023.

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds no shares in Cornish Metals.

..

Cornish Metals Inc. (TSX.V / AIM: CUSN)

Reported the remaining assay results from the Phase 1 drill programme at United Downs, in Cornwall, SW England.

This release includes results from the Mount Wellington and United Mines Targets within the United Downs project, located eight kilometres east of South Crofty.  

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Cornish Metals South Crofty Mine Headframe

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Cornish Metals Inc. (TSX.V / AIM: CUSN)

Reported assay results from two diamond drill holes, UD21-006 and UD21-008, which are part of the ongoing drill programme at the United Downs copper – tin project, Cornwall UK. 

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Cornish Metals United Downs and South Crofty property locations

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CORNISH METALS CONTINUES TO INTERSECT HIGH GRADE TIN, COPPER, SILVER AND ZINC AT UNITED DOWNS

Vancouver, November 3, 2021   Cornish Metals Inc. (TSX-V / AIM: CUSN) (“Cornish Metals” or the “Company”) is pleased to report assay results from two diamond drill holes, UD21-006 and UD21-008, which are part of the ongoing drill programme at the United Downs copper – tin project, Cornwall UK.

Cornish Metals management comments

“These results continue to demonstrate the presence of multiple mineralised structures within the UD Lode target area.

 

“The intercepts in the latest holes do not appear to be part of UD Lode itself but represent new sub-parallel zones of mineralisation, including some exceptionally high tin grades.

 

“This is the first time we have encountered high-grade zinc mineralisation, which occurs as coarse black sphalerite, and also note the high silver grades associated with the copper-rich zones. Additional drilling is required to understand the geometry and scale of these zones.

 

“The continued discovery of new mineralization by the current drilling underscores the prospective and under-explored nature of the United Downs area for near surface tin, copper, zinc and silver.

“The drill programme continues and results will be reported as and when received.”

Richard Williams, CEO Cornish Metals

.ABOUT CORNISH METALS

Cornish Metals owns a 100% interest in the South Crofty tin and United Downs copper / tin projects, plus additional mineral rights located in Cornwall, UK.

The Company recently published an updated Mineral Resource Estimate for South Crofty (see news release dated June 9, 2021), as summarised below.

The “South Crofty Tin Project Mineral Resource Update” report, dated June 9, 2021, authored by Mr. N. Szebor, CGeol (London), EuroGeol, FGS, of AMC Consultants (UK) Ltd, can be accessed on the Company’s website.

To read the full news release, please click HERE

.

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.