Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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I've been watching this for like ever it seems - I noted the dual broker announcement - assumed a placing would be on the way then the CEO departs lol
You don't know the reason, do you? It may be something not connected with the company like health, family etc. Take advantage and top up as I and many others did.
Just noticed there's some chunky buys going through. That's good to see.
Hi bonker99, doesn't look good leaving this early in the process for the share holders.
Looks like the CEO won't be buying - what gives?
Would be good to see directors buying shares. Always looks good to investors.
This is another good reason for giggling around with power hungry tasks i.e dewatering
Just as we were discussing smelting, look what popped up inthe Telegraph!
https://www.telegraph.co.uk/business/2024/03/10/british-battery-plants-cheap-power-china-dependence/
....British battery metal refiners and electric car gigafactories are being handed cheap power deals by the Government as part of a battle to cut the West’s dependence on China.
Companies will get the energy relief from next month with the aim being to boost domestic production of key minerals needed for wind turbines, electric cars and defence technologies, officials and executives say........
continues
CUSN could 1.sell the concentrate, or 2. pay a smelter to do the smelting then sell the tin or 3.it could set up a smelter itself.
3 would require more capital, and might result in smelting using high priced UK energy. However HMG might help if it wishes to provide the UK with a resilient source of tin. 2 seems quite likely if as pawgee points out there is a smelter available nearby. That would incur additional transport cost.
1. might not achieve a benefit for Western resilience, but could be redirected if there was no long term sales contract/offtake agreement, if the need arose.
It would be interesting to find out if the waste recyclers would be in a position to smelt the concentrate. I think I heard one was setting up in Plymouth.
I believe the 9th largest tin smelter globally is located just on the other side of the English Channel (Metallo in Belgium) , so not far to travel , until decision whether a U.K. smelter is a viable option
Thira 2011 "Please forgive my ignorance, I may have missed something. Mines dewatered, material mined and brought to the surface And then what??? "
What will occur after that will be processing in a process plant on surface to produce concentrate (Permit in place). The process plant to be built if go-ahead given after economic assessment. See:- page 17 RHS image of
https://cornishmetals.com/site/assets/files/4930/cornish_metals_-_corp_ppt_february_2024.pdf
The sale/or further processing of concentrate i.e. smelting- into tin itself, is also to be decided.
You don't bother to refurbish shafts unless you are pretty certain they are going to be used!
Yes ,what sort of transport are they going to use to move the material from the mine once it is processed .The bus service is not great.
Happy days !
Pawgee
I agree, it indicates a high degree of confidence that we will see a green light after the PEA. The clock is ticking, the tin price is rising and management are delivering.
Any thoughts on the RNS today?
IMHO, it seems to be positive news to bring forward the refurbishment of the NCK shaft and the £4m saving involved. I can’t see why BOD would reschedule this aspect of the project plan ( and incur forward costs) unless the likely outcome of the PEA is extremely positive , preemptively moving project forward in most efficient way that will result in the reopening of the mine. We will all know in a couple of months time.
Electric vehicles contain about 1 kg of tin. So Tata alone, might take around 600 tonnes of pure tin per annum in the future.
Then there is the lithium for the batteries perhaps from Cornish Lithium, in which CUSN has an interest. All shaping up nicely.
Tata would not be sourcing from Cornish as yet as it's not set up fully, but it could be an option in the future, in particular WITH the drive to source within UK to meet both EU Rule of Origin Standards and Carbon reduction targets ( with reduced transport costs etc )
Looking more stable so looking to re-enter, seems to be moving in a sentiment range and now at lower end. Good news on drilling etc might give some uplift
Agreed the outlook is good, especially re the recent tin price rise and ITA forecast increase in tin demand over the next few years.
When current drilling results are out and the new feasibility study is complete, a decision will be made as to whether to proceed. If a go-ahead decision is made at that point further funding will be needed to pay for the process plant and re-furb of shafts etc. A mix of plant hire, debt and maybe royalty finance may accompany an equity issue. The warrants, if exercised, would cover a significant proportion if not all of the latter. So there is clearly a motivation to get the share price back up to the warrant exercise price of 27p. Not that any additional motivation is needed.
Bough in here again. The tin price, Myanmar events, MLX and AFM action, all supports another rise in sp.
Also, they had $31m as of 31st Oct 2023 so they don't need to raise.
After 3 w's put dot research-tree dot com then the rest.
https://*********************/media/cornish-metals-company-update-12-02-2024
Nothing not to like really....upwards and onwards.
A good interview, but the actual time target for production start, is about 12 months longer than I estimated when I bought in 3 years ago.
I put that down to me not understanding as much as I now do about tin and other mineral mining.