Cornish Metals Share News (CUSN)

(Sharecast News) - Cornish Metals reported significant progress on the South Crofty Tin Project in Cornwall in an update on Thursday, as it worked on the mine water treatment plant and re-access work on the NCK shaft.

The AIM-traded firm said the treatment plant, designed to treat 25,000 cubic metres of mine water per day, was now nearing completion.

All tanks, except for the carbon dioxide and deep cone thickener, had been installed, and the remaining items were expected to be in place by the end of May.

The structural steelwork and walkways around the tanks had also been assembled, and the pipework connecting the tanks was currently being installed.

Cornish Metals said the motor control centre design was complete, and manufacturing was underway with delivery expected in June.

The wet commissioning of the mine water treatment plant, originally scheduled for late May, had now been postponed to late June and was expected to extend through July.

It said the mine dewatering process was now planned to start in early August, with the discharge pipes from the plant down into the Dolcoath Deep Adit - a historic drainage tunnel - now installed.

Additionally, a turbine would be added to generate up to 15% of the electricity required to operate the mine water treatment plant.

The progress on the NCK shaft re-access work, meanwhile, was also progressing, with two single drum winders ordered - one from Siemag Tecberg and the other from Zitron.

They were scheduled to arrive on-site in October and August, respectively.

Conveyance and rope attachment packages for both winders were currently being tendered for design and fabrication, and new winding ropes had been ordered for both machines.

Various components of the re-access work had been completed, including the removal of sheave wheels and bearing blocks from the south headframe.

Submersible pump installations into the shaft had undergone successful test runs, and would be installed during May and June.

Interim shaft work platforms had been designed, and were well advanced in fabrication.

Inspections of the above-water timber compartments in the shaft had been conducted down to the number one level, with most sets found to be in good condition.

"The team in Cornwall has made great progress over the last five months, despite adverse weather conditions," said chief executive officer Richard Williams.

"It is exciting to see the water treatment plant approach completion and we now start turning our attention to the commissioning and commencement of mine dewatering activities this summer.

"Further news on the metallurgical drill and testwork programme and ongoing feasibility study will be issued shortly."

At 1448 BST, shares in Cornish Metals were down 1.96% at 12.5p.

Reporting by Josh White for Sharecast.com.