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Pawgee "Does anyone know why the copper potential at United Downs does not feature in the overall CUSN MRE picture? "
A "resource" estimate involves proving the resource is there. A "reserve" not only proves its there but also proves its economic status or viability.
To prove the resource a lot of drilling is required and that is expensive to do. CUSN is focussing its efforts and capital on its most likely to be viable project South Crofty. However, UD may be next , the Wide Formation and then Dolcoath, Gwinear etc. The encouraging thing is that CUSN has so many possibilities to follow up. The graphic on the RHS of page 15 of the company presentation gives an idea of what may come about.
https://cornishmetals.com/site/assets/files/4930/cusn_october_2023_corp_ppt.pdf
The dot at 5.6m tonnes is the current resource and moves to the right will be achieved if more drilling exploration is successful.
Hannam and partners in their 30.6p valuation of the shares are only taking in 70% of the NPV of SC, and a small $35m sum for UD. Other rights areas do not seem to feature at all. With this low level of inclusion of CUSN assets the Hannam & Partners' valuation still offers huge upside potential from the current level of 11p.
Interesting article in Financial Times today.
Copper producers warn of lack of mines to meet demand for metal
--
Harry Dempsey and Euan Healy in London
--
Read the full article at:
https://on.ft.com/46nJO1s
Does anyone know why the copper potential at United Downs does not feature in the overall CUSN MRE picture?
I realise the CUSN focus is on South Crofty and the tin resource there, but given the future Copper shortages highlighted in the FT article & the seemingly high grades noted in the presentation, it would be interesting to get a feel for the potential here. Will this form part of the end 2024 feasibility study?
Good afternoon LB
Tomra sorters were not envisaged when the PEA was written.
So the ability to sort out waste and not present so much ore for processing helps to massively reduce processing costs. Also, up front capex costs will be lower as less plant will be needed. Perhaps a smaller shed. So the financing requirment for the whole project will be reduced.
And finance is probably the key hurdle. So if less finance is needed and the returns are much higher, financing will hopefully be a lot easier. All of which affects the share price as that reflects project NPV times a factor for the likelihood of the project happening at all.
The chances of VBR exercising their warrants at 27p per ordinary share have just improved.
I think that future announcements may also be helpful. The exploration drilling programme will hopefully bring good news and increase resources, extend mine life and possibly enable increased throughput, all of which will again increase the NPV, and make finance provision attractive to investors
Nice read. Thanks for sharing. I see they are getting into bed with tomra and running trials.
Did you pickup on this...
"Testwork results (from XRT and HLS) confirm the upgrading potential of
South Crofty mineralisation."
What's your take. Better yields and/or higher grades?
ATB LB
Https://cornishmetals.com/site/assets/files/4930/cusn_october_2023_corp_ppt.pdf
Meanwhile it's a good time to buy. Just do so knowing you won't see a profit for 2 years, and there is a risk of bankruptcy if funding stops. Seems unlikely but it is possible.
I appreciate the company is not get producing/selling any minerals, but they are far more nearer doing so that they were in Jan 2022 when the sp was 28p. But I take your point that when production/sales start, the current low sp will be history.
It's just because they've not started selling anything. The share price will start to rise then
Once again a positive RNS from the company, but if the last 2 such news releases are anything to go by, the sp might just drop.
I bought my shares 2.5 years ago and until the last few weeks have always been in profit.
It's annoying, but I am not concerned, as the potential for profit is overwhelmingly high, it's just that the market either does not yet see that potential, or not enough people are aware.
Https://www.itv.com/news/westcountry/2023-10-04/why-mining-sparked-royal-visit-to-the-west-country-today
Royals visiting Cornwall mining college.
Good sign for the industry.
Thanks MO, you are a star.
Long....just had a 6 hour drive back home from Scotland
Not ling now then for news.
Great !!
And yet the sp goes down, typical of the AIM.
Excellent news.
ATB LB
There are not many companies that keep their investors updated as well as Cornish Metals do. Nice progress, and on time to.
Progress.
RW said in his Pro-active talk
".......we believe there is potential to not only grow the mineral resource base, but also to potentially expand production rates......"
I think that could raise the project NPV significantly.
Top up territory !!
Https://audioboom.com/posts/8368469-john-meyer-on-chinese-stimulus-plus-arc-bushveld-cornish-metals-empire-metals-tertiary-min
I like the sound of
.................................substantially improved mineral processing ....................................