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2014 - $13.5 million profit. 2013 $3.0 million profit. You didn't say every year shown on stockopedia or in tge last x years - you said NEVER - which is factually wrong, that Is all I picked you up on.
"They've never made a profit". I suggest you check your facts as that is completely inaccurate.
A mine no matter how big or small can't function without engineering and geology departments
It's highly unlikely they would RNS that, however they are likely to RNS 1350tpd steady state production has been hit
This is how they've raised: -
https://www.crowdcube.com/companies/cornish-lithium-ltd
In my view £250 Million is easily achievable, I think £100 million is achievable by Christmas if the hit full production and clear the hedge, which will see a massive change in sentiment.
If todays job advert of a "strategic long term planner" doesn't show confidence, I don't know what does.
For anyone that missed it CL were on Radio 4 PM today, about 45 minutes in: -
https://www.bbc.co.uk/sounds/play/m000z79x
There was also a question regarding mining in Cornwall on any questions at about 20:40
I suppose you could look at oil well drilling technology, but I would assume you would need divers (its probably too deep) or ROVs to make the well head.
They would fit but you'd have to pump it out first, it would be cheaper to drill a bore hole.
1500m? None, the deepest shaft in Cornwall is 3300 feet.
For me at present it is about the tin, copper may be a bonus in areas, Cornwall stopped mining copper a long time ago as there are far better deposits elsewhere in the world.
As for Lithium, it may provide a lucrative secondary source of income, but its not Cornish Metals aim, they have no control over the project and don't know whether it will work or not, time will tell.
I don't think I've taken a swipe at anyone have I?
Hi Majoroak, for me UD has always been a bit of a sideshow, the grade they hit last year had to be investigated, as there was an outside chance it could have been another Wheal Jane B lode type structure - it's not, it's a pretty normal Cornish lode with Copper mineralisation turning to tin at depth.
It's narrow, which is problematic - not the end of the world with the grades and current metal prices. Just to highlight the problem, if you have a minimum mining width of 1800mm and a lode width of 900mm, if your ore value is $200/tonne, it immediately drops to $100/tonne with the waste being mined. (Its actually not that straightforward a calculation as the ore will typically have a higher SG than the waste - but you get the idea)
There is a hell of a lot of work to be done here to turn this into a resource statement and a PEA.
I don't think anyone is throwing in the towel, there not bad results, it just looks like it's not as good as hoped for
Just putting some composite values together, using tin at $33,000, copper at $9,000 and silver at $25/oz. I've only used the full intercept value not the including values (they are too narrow to be mined seperately).
Hole 1 intercept 1: - $2607/tonne - would be considered bonanza grade - no evidence of continuity.
Hole 1 Intercept 2 :- $962/tonne - very good grade, decent width UD Lode.
Hole 2 intercept 1: - $272/tonne
Hole 2 intercept 2: - $96/tonne
Hole 3 intercept 1: - $237/tonne - extremely narrow intercept
Hole 3 intercept 2: - $414/tonne
Hole 4: - $281/tonne
Hole 5: - $240/tonne
Hole 7 intercept 1: - $133/tonne
Hole 7 intercept 2: - $111/tonne but is potentially a mineable width
For me (and I've not worked out what these are yet), with the narrow structure you would want a composite value of around $250/tonne as a minimum
100% agree Southwesterner.
I think there is a possibility of a satellite operation to South Crofty here, but its certainly not going to finance South Crofty on the evidence to date.
On mining above the lode thickness, yes they would have to here, the effect of that is large scale dilution, effectively reducing the grade.
It was only called Lithium lode as Cornish Lithium drilled it while drilling for Lithium Brine, not because the lode contained Lithium.
It looks to be a very typical lode for the area, with irregular grades and thicknesses, with some useful silver grades. The biggest issue is if the lode has sufficient width for mining.
I'm not sure of what drilling was done on it, I gave a vague recollection that one of the big oil companies went into mineral exploration in the area.