Member Info for Cornishknocker

What I'm hearing is the Leedstown area, about 6 miles west of crofty

The common factor between the two is Sally Norcross Webb

I discovered godolphin minerals she's ago on Companies house, but this is the first tangible sign I've seen of them. My first thought on them is they were something to do with Cornish Tin, as their exploration is in the Godolphin area.

C1 costs don't include financing charges. But the full interest on the full amount works out at 10-15c per lb Cu, so it is tiny.

Ultimately the level of indebtedness for what is essenti6a new mine is tiny.

https://twitter.com/METhompson72/status/1459100111338938396?t=-cY938HcQreY1dEthOzFcg&s=19

I see Mark Thomson has now tweeted a photo of his new offices in Cornwall.

Whether this has any connection to Tungsten West , I don't know. I've just been over to Scorrier to take the car for a service, on the same business park I noticed an office for Godolphin Exploration Ltd.

So checking companies house: -
Godolphin exploration have two sister companies: - Godolphin Mining and Godolphin Minerals.

Sally Norcross Webb (cornish Tin) and Mark Thompson (Tungsten West) are both previous directors of Godolphin Mining (and both have links back to South Crofty). Until Last February, Godolphin Mining were called Anglo Saxony Minerals.

Godolphin Minerals appears to be the holding company of which Mark Thompson is a current director.

Whether this has any connection to Tungsten West, I don't know. I've just been over to Scorrier (Redruth)to take the car for a service, on the same business park I noticed an office for Godolphin Exploration Ltd.

So checking companies house: -
Godolphin exploration have two sister companies: - Godolphin Mining and Godolphin Minerals.

Sally Norcross Webb (cornish Tin) and Mark Thompson (Tungsten West) are both previous directors of Godolphin Mining (and both have links back to South Crofty). Until Last February, Godolphin Mining were called Anglo Saxony Minerals.

Godolphin Minerals appears to be the holding company of which Mark Thompson is a current director.

Whether this has any connection to Cornish Metals, I don't know. I've just been over to Scorrier to take the car for a service, on the same business park I noticed an office for Godolphin Exploration Ltd.

So checking companies house: -
Godolphin exploration have two sister companies: - Godolphin Mining and Godolphin Minerals.

Sally Norcross Webb (cornish Tin) and Mark Thompson (Tungsten West) are both previous directors of Godolphin Mining (and both have links back to South Crofty). Until Last February, Godolphin Mining were called Anglo Saxony Minerals.

Godolphin Minerals appears to be the holding company of which Mark Thompson is a current director.

Are you talking profit or cashflow?

On the cashflow front it's easy to calculate, assuming 1350tpd @ 2% Copper, with a recovery of 95% and 355 days production per year @ $9000/t cu price: -

1350 x 355 x 0.02 x 0.95 x 9000 = $81.95 million

With ore sorting production increases to 1850 tpd, recovery reduces to 93% and grade reduces to 1.8%: -

1850 x 355 x 0.018 x 0.93 x 9000 = $98.95 million.

In both scenarios there are also gold and silver credits as well.

That is correct and they have now commenced drilling at Carnkie as well.

I'm just up at Carn Brea, Cornish Metals have their rig set up and are drilling at Carnkie.

At the moment Cornish metals own 1.32% of Cornish Lithium and will likely recieve another £100,000 shares in January.
Any production from United Downs (of which Cornish Metals) will hold a significant shareholding of, will also pay cornish metals a royalty on.

Totally agree VII, we all have different interests on this one, todays news is very much on the ton and metals front, another day will be the lithium

It's funny every one is concentrating on the 2nd RNS today. The more important one was the first one in my opinion.

The structure of the original purchase has been a block to dewatering crofty, this removes that Block. I personally think that there is a potential investor who is willing to invest on condition of that restructuring. If I am right, I think we can expect some major news soon.

Just a little. For me it's sit back and enjoy the ride for now!

It's hard to say a decent grade for individual metals on a polymetallic structure. The way I tend to work it is by creating a composite tonnage value (which the copper equivalent does, but that is only valid at the stated prices and is irrelevant if there is no copper in that section).

If you take the last reported intercept today as an example, it contains: - 0.56% Copper, 0.24% tin, 8.99% Zinc and 27.1g/t Silver.

That means that 100t of that material will contain 0.56t of copper, 0.24t of tin, 8.99t of zinc and 2710g (90troy oz) of silver

If you take the metal prices (or whatever figure you want to use): -

Tin - $37,000
Copper - $9,700
Zinc - $3,400
Silver - $22/oz

That means that 100t of material will contain: -

Tin - $8,880
Copper - $5,432
Zinc - $30,566
Silver - $1,980

For a total composite value of $46,858/100t or $468.58/tonne.

Bearing in mind this will be a narrow vein operation, with increased dilution, you would want to allow around $120/tonne mining cost.

Mill recovery is likely to be in the region of 70% - polymetallics have a lower recovery than single element mills.

As a result it probably wouldn't be worth mining material worth less than $250/tonne.

Nb these are all very hi line figures in lieu of any PEA or FS.

Indeed, although there are some impressive widths there even at 20%. They are truly polymetallic grades with a mix of tin, copper, zinc and silver.
As a result the copper equivalent is a good indicator for comparison- anything over 3% is good.
Some of those intercepts are very narrow which could be problematic- however it needs to be remembered that these are entirely new zones - it would be good to see cross sections of tge intercepts in relation to what they were actually aiming for.

There's certainly nowhere near as much selling as I was expecting to see this morning. At the end of the day the investment case here is a dream, but yesterday's move was also a traders dream.

The risks now facing this operation is no more than any other mine: -

1. Metals price collapse
2. Inflation and interest rates
3. Failure of major infrastructure like either the decline or mill failure.
4. Strike
5. War