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Hi LovelyBoy
Good to hear from you. It is a case of "least said, soonest mended". I agree the outlook is really good. Not only good for investors, but the whole project is worthwhile for Cornwall, and the UK.
The news out of the Plymouth area is also very encouraging. At last. Everyone has high hopes now for the final piece of the jigsaw which will unlock an attractive picture. That may help sentiment in all SW miners.
I see that the day trading lemmings are jumping the cliff with their tenner profit, can't be much more as 7 and a bit is the lowest it's been. Love to see their faces in a couple of years. He who dares Rodney lol !!
Hi Vii.
Hope you are well. Just curious to know if you have a view on why RW resigned. Seems odd given the future and potential here.
ATB LB
PS the Plymouth project has seen some good gains recently. Nice to see.
The rate I'm buying these, I won't be far behind Vision Blue Resources.
Gingy - "Personally I don't think this will go into production under Cornish metal. One of the big outfits will swoop in and take us over."
Possible, but Vision Blue Resources- the major shareholder with 25% of the shares,- are a big outfit and have recently raised around $600m so have multiples of the firepower needed to see this into production. The upside is enormous and they know it having BoD representation. Selling out now before the expected tin price run is unlikely IMO.
I've added more to my pile here - if (as anticipated) the PEA is positive then we can expect a sharp rise in SP. Anyone buying in at these levels could be on for quadrupling their money in the next couple of years if things go well.
Personally I don't think this will go into production under Cornish metal. One of the big outfits will swoop in and take us over.
Bonkers99 Also to consider, the value of CUSN is not just indicated by the NPV in the PEA. To that we should add, the value of UD , Gwinear etc and the value in the holding in and relationship with Cornish Lithium.
Always the voice of reason and information VII, long may it continue, thankyou
Yep - RSI was way oversold.
Should be a good bounce from here, Nav of £90M and Mcap of £46 should be good for at least 100%
Hopefully that's put a floor under the price..... will start building slowly
Bonkers99 "Can anyone float an expected NPV number for the PEA?"
Outsiders cannot, No. But here are some pointers.
The 2017 PEA* showed an NPV of $130.5m assuming a tin price of $10/lb around $22,000 per tonne.
• Source:- Https://minedocs.com/21/South-Crofty-PEA-02162017.pdf
In the sensitivity analysis (p22) it showed that if the tin price rose to $11/lb around $24,200/tonne- a 10% increase- the NPV rose to $188.1m i.e. an increase in NPV of 44%. i.e. highly sensitive.
Now the tin price is $32,320/ tonne or 47% up on the 2017 central estimate. All other things being equal, which they are not, would suggest an adjusted NPV of around $400m.
Much has changed since 2017 including the cost of building and running the plant, interest rates and thus the discount factor for the NPV calculation. So the $400m appears to need to be adjusted down considerably.
However there are also a number of other positive changes.
Because the indicated and inferred resources have increased very significantly it is reasonable to assume mine life has increased or the throughput could be increased. This would move the NPV up. See below***
Furthermore it looks as if the cut-off grade could be reduced as XRT ore sorters have been trialed by CUSN with very encouraging results. This would help to further increase the resources and boost the NPV. The same machines are likely to reduce the size of the plant required to process the ore- helping to reduce initial capex and opex – which also would help the NPV upwards.
And the discovery of the Wide Formation and Great Flat Lode Splay may well add to the resources, when fully assessed, which again would either enable CUSN to increase throughput or extend the mine life, both of which are likely to enhance NPV.
------------------------------------------------------------
***In the 2017 PEA the indicated and inferred resources were for the lower & upper mine respectively :
Indicated 1660+257 kt Inferred 738 +464kt
Total 2,398 + 721kt =3,119 kt
Indicated and Inferred at 5/2/24 for the upper and lower mines
Were :-
Indicated 2,896 kt +260 kt Inferred 2,626 kt + 465kt
Total 5,522 kt + 725kt = 6,247 kt
A significant 100% uplift, with the likelihood of more to come from the Wide Formation and GFL Splay.
-----------------------------------------------------------------------------
Not long to wait for the actual figures in a new PEA. Good Luck everyone.
Rooky,
My view is that everyone knows this has been and will continue to be a long play.
In the current economic climate, investors are looking ING for quick returns, so this is not attractive no matter how undervalued current investors think it might be.
New investors only likely to jump in on news and likely happy to pay higher for more certainty knowing further gains can be made.
Meanwhile everything is going to plan and looking good. I'm happy now at my target to hold and wait
Can anyone float an expected NPV number for the PEA?
Regardless how the market reacts now I've just topped up and will wait till the"tin and the other metals mentioned start leaving the mine" as you're saying. You can't lose here, imho.
Rooky
Very much agree with you .
Cavendish released a brokers note this morning reiterating that the sum of the parts valuation of CUSN is 25p, so should see some healthy upside on sp
This share is so far under the radar, that you wonder is a thick seam of gold, and a several Cullinan size diamonds were found, the SP would still not move.
I appreciate that when (not if) tin and the other metals mentioned start leaving the mine, the SP will zoom upward, so not worried, just somewhat puzzled, as surely now is the time to get into this share.
If I had a few quid spare, I would be increasing my current holding.
RNS out...
Looks positive on first review.
Good luck all.
Tin price looking strong.
What news is it going to take to push us north? Seems every day we drop that little bit lower.
Gingy Good point.
Some sort of fund raising can be expected if the preliminary economic estimate is supportive of a go ahead as expected. This would be to pay for the process plant.
I think there may be an element of an equity issue and if you want to take part I suggest you contact all the following people to let them know.
Fawzi Hanano and Irene Dorsmann at CUSN investors@cornishmetals.com
Matthew Hasson at Hannam and Partners cornish@hannam.partners
Derrick Lee at Cavendish Partners 0131 220 6939
Richard Morrison @SPAngel 0203 470 0470
Good luck, Vii
VIS, do you think at some point there's going to be a placing to drum up funding, to push on to build processing plant? They must be burning through the money now with installation of new plant and wages.
Gingy - I agree But lets look to see
1.if the price of tin stays above $30k/tonne.
2. If the exploration results continue to be encouraging
3. How the finance for the process plant is structured.
Given the rise in metal prices, other areas of exploration - UD, Gwinear may be worth bringing forward
And another report
https://www.msn.com/en-gb/money/other/lme-bans-russian-origin-metal-after-uk-us-impose-new-sanctions/ar-BB1lzrPg