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Dumbpunter. CUSN's interest in CL is as follows:-
Cornish Metals exposure to Cornish Lithium
The Cornish Metals Pre IPO presentation states:-
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Lithium exposure through Cornish Lithium
Cornish Lithium has the right to explore Cornish Metals’ mineral right areas for lithium-in-brine & geothermal energy. Cornish Metals has a 25% free carried interest on the first project advanced to completion of a Bankable Feasibility Study within its mineral right areas, and a 10% free carried interest on all subsequent projects advanced to completion of a Bankable Feasibility Study.
Cornish Metals will receive a 2% Gross Revenue Royalty on all metals produced from brines or geothermal energy produced from within its mineral right areas.
From January 2017, Cornish Metals benefits from annual cash / share issuances from Cornish Lithium of US$50K per year in years 1-5, US$100K per year in years 5 –10, US$500K per year from year 10, and US$1,000K per year from year 15.
Refer to Company news release dated January 19, 2017 for further info.
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So for the announcement to relate to CUSN, the lithium extraction would have to be from CUSN's mineral rights area.
Otherwise CUSN may or may not have shares in CL dependent on whether the annual fees have been or will be paid in shares or cash.
If CL has been paying in shares, CUSN will have found the CL share price since the last issue has nearly doubled so would have done well from its investment.
Busy with announcement later on covid I think Dumpunter
Kdot, afternoon yes understand let's see at close of bell,thanks for input
@Bubble2021, A lot of traders because we closed above important resistance on Friday, but the lack of follow through today led traders to push SP below the resistance, which had temporarily become support.
Lets see where we close today to get a bigger picture of where SP will be going, but in my opinion, it's all healthy. I don't like everyday to be green!
Alot of movement on trades ATM wonder why
Going up on no trades as in no buys...
Morning Vii,yes I think the global demand will far outstrip supplies in the future ,so it would make sense to tie up the resources before assays and production imho
Hi Bubble
Hope you had a good w/e.
The company has been talking to a number of potential customers for its future tin and copper production, hoping to conclude off-take agreements. From the customers' perspective they get some guarantee of supply, and perhaps a guaranteed price, in exchange for up front payment which would be used to get the mine (s) back into production.
Clearly the customers would have to be big users of copper /tin to make a difference, or perhaps the customer could be another producer of copper, tin, etc, who wants to boost their future supplying potential.
Vii, positive news let's hope that funding comes our way aswell and maybe a j/v to take us to production
CORNISH LITHIUM ANNOUNCES THE CO-PRODUCTION OF LITHIUM AND KAOLIN IN CORNWALL PROJECT IN ASSOCIATION WITH IMERYS AND HSSMI
AND
FUNDING FROM INNOVATE UK
Cornish Lithium Ltd (“the Company” or “Cornish Lithium”), the mineral exploration and development company based in Cornwall, UK, is delighted to announce the formation of a consortium involving Cornish Lithium, Imerys Minerals Limited (“Imerys”) and sustainable manufacturing innovation consultancy, HSSMI to assess the potential for Co-production of Lithium and China Clay (“Kaolin”) in Cornwall (the “CLiCCC Project” or “the Project”). The Project will assess the potential to produce lithium from waste material produced from both current and historic kaolin operations. Cornish Lithium will be the lead partner for the £1 million CLiCCC Project, which will benefit from Innovate UK’s funding.
The CLiCCC Project consortium aims to evaluate the economic viability of extracting lithium from minerals that occur in the same rock as kaolin. This could increase the resource efficiency of the mined rock, with the double benefit of making the Cornish kaolin industry even more competitive in international markets, as well as contributing to securing a domestic supply of lithium that is vital to the UK’s transition to renewable energy and a zero-carbon economy.
The fact that the British automotive industry will switch to electric vehicle production from 2030 will necessitate the construction of battery factories in the UK and the development of associated raw material supply chains, including the manufacture of lithium battery chemicals.
Kaolin was first discovered in Cornwall in 1746. Since then, Imerys developed to become one of the world’s largest producers of kaolin. Today, Imerys employs more than 750 people in mid-Cornwall, 1100 people in the United Kingdom and contributes over £220 million sales per year to the British economy. Imerys supplies, from its Cornish mining and industrial footprint, a large number of growing applications worldwide such as paints, coatings, plastics, ceramics, rubber, pharmaceuticals or cosmetics.
Kaolin in Cornwall is largely sourced from decomposed granite, a rock that has also been shown to contain lithium minerals in the form of lithium mica. The lithium potential of the kaolin region in Cornwall was outlined in a British Geological Survey report of 1987, but at that time there was no economic imperative for such a source to be commercially exploited.