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Cornish Lithium!
Investors UK Infrastructure Bank, EMG and Techmet. Another piece of the jigsaw.
Landmark US$67 million Investment for Cornish Lithium
UK Infrastructure Bank makes investment to strengthen domestic lithium supply chain
Cornish Lithium to receive US$67 million in funding from the UK Infrastructure Bank, The Energy & Minerals Group and TechMet.
UK Infrastructure Bank’s direct equity investment will support the development of the UK’s critical minerals supply chain
Funding will accelerate growth towards commercial production of lithium
Part of larger funding package of up to an additional US$210 million
Cornish Lithium is pleased to announce a US$67 million (£53.6 million) initial investment from a group of leading institutional investors led by the UK Infrastructure Bank alongside The Energy & Minerals Group (EMG) and TechMet.
In its first direct equity investment, the UK Infrastructure Bank will invest approximately £24.0 million (US$30 million equivalent) into the development of the UK’s critical minerals supply chain with EMG, a US-based private equity fund focused on the energy and minerals sectors, also investing around £24.0 million (US$30 million equivalent). Cornish Lithium’s largest existing institutional shareholder, TechMet, the critical minerals investment company, whose major backers include the US Government's Development Finance Corporation (DFC), is investing a further US$7 million (£5.6 million), bringing its total investment into Cornish Lithium to US$30m.
The funding package is expected to significantly accelerate progress toward the creation of a domestic supply of battery grade lithium compounds, which is crucial to support the scaling up of domestic battery production for electric vehicles and battery energy storage solutions for renewable energy sources. The initial investment is part of a larger funding package of up to an additional US$210 million (c.£168.0 million) potential second-stage financing, which is expected to provide the equity foundation necessary for the pioneering mineral exploration and development company to achieve commercial production.
This investment signals a significant boost for Cornwall, and aligns closely with the Bank’s core mandate to support the UK’s transition to net zero and boost regional and local economic growth. The funding aims to enable the County’s development as an industrial cluster for lithium extraction and will strengthen the move to net zero in line with Cornwall’s local industrial strategy. Once in commercial production, Cornish Lithium aims to build its 70-strong Cornwall-based workforce to over 300. Through its Trelavour hard rock mine development alone, it is estimated that Cornish Lithium could generate £800 million of economic activity for the local economy over the expected 20-year mine life. This figure is expected to increase further through development of the company's geothermal waters project portfolio.
Following the closing of this round of initial investment, Cornish Lithium is pl
Https://www.telegraph.co.uk/business/2023/08/06/china-electric-cars-invasion-britain-security-risks/
Don’t think this has any bearing on the share price - it’s been announced already, and it’d be happening even if the feedstock agreement had already been signed and the share price was in the £5 range.
What do you mean majoroak? Significance?
August equity issue ... Oh its August and £1.45p is the issue price ;-)
Next is £1.30.£1.50 then SURPRISE = £££ with £5.00 the 10 day target for options kerching
Many thanks valuation; I learn something new every day ~ Looking at the specs of their smallest module the SOAR 800 I still think it will be a while before we see Fuel Cells small enough to replace Li batteries for domestic use, but as you say it may not be that far away.
ViS , my Uni and also huge nuclear testing being done in both L'boro & Raynesway, Derby.
New nuclear testing site just been bought by RR in Derby too.
Chinasyndrome "Also a bit hard to run power tools etc with a hydrogen tank / fuel cell ! "
You might be surprised! A company called Intelligent Energy based in Loughborough, perfected the miniturisation years ago and had produced a pocket sized unit . They now make them for drones. giving 5 times the flight duration of a lithium battery. See April 2019 on:-
https://www.intelligent-energy.com/about-ie-intelligent-energy/our-history/
Sometime in the future when they have worked out a safe way to store it; if you think Lithium batteries are dangerous imagine what 100 litres of H2 would be like in a tail ender. Also a bit hard to run power tools etc with a hydrogen tank / fuel cell !
Hydrogen certainly has its place but is probably limited to Commercial transport for a while.
Https://www.bbc.co.uk/iplayer/episode/p0fzlswg/what-they-really-mean-for-you-series-1-1-electric-cars
Hydrogen is the the real future, no disposal of toxic waste Lithium batteries etc, etc......watch this video from 41 minutes onwards.
ALK is not on AIM. It is main market London and Frankfurt
Significantly lower.
£10m ALK
£50m Green Lithium
ALK further ahead and with great output potential
Such is how investors value companies on AIM
That’ll all change soon enough
Alk is ahead of Green Lithium, but no one knows who will raise construction funds first. :)
I am a shareholder of greenlithium and alk. I hope everything goes well.
It's interesting that alk has a lower market cap than greenlithium.
Green Stock are far behind Alkemy in development terms, even though they are valued at £50m (private listed)
ALK amazing g opportunity
No not really new.....quite old...and funnily passed Wilton when in GB a few times last week! I sort of know that but I actually didn't know about them. The bit where they propose to be the first is the bit I'm not fussed about if it comes to pass! just musing but did reduce holdings in recent weeks.
GLA
"first large-scale facility in the UK"
Theyve been there for a long time, are you new? Not as advanced as Alk and won’t be as large when fully operational. We are in the Wilton international section of the Freeport.
Competition then......https://greenlithium.co.uk/about-green-lithium/people
MO interesting post..............
Key to the future of the lithium supply chain in the UK is whether the JLR plant will take Lithium mined and processed in the UK. I am not aware of any of the conditions set by the UK government for the grant of £500m to TATA towards building the gigafactory. Does anybody know if JLR has been required to take UK lithium where possible?
Https://www.lexology.com/library/detail.aspx?g=9f2f3878-c1e0-4120-9b70-a0fc573f889c
Includes JLR.
-Is proving very popular. Registrations already exceed last years numbers.
Information from email address:-
info@cornishminingconference.co.uk
Https://au.finance.yahoo.com/news/allkem-posts-record-production-world-005103471.html
....
Https://m.miningweekly.com/article/pilbara-posts-record-quarter-2023-07-25
..... August equity issue then lets crack on.