Member Info for Cornishknocker

Looking at the project: -

Year 1.
Construct Paltridge North $2.2 million US
Extract 20% copper @$10,000 per tonne x 1020 Tonnes = $10.2 million Revenue
Operating cost $1.34/lb x 1020 x 2200 = $3 million

EBITDA = $5 Million

Year 2
Extract 40% Copper @ $10,000/tonne x2040 = $20.4 million
Operating cost 1.34 x 2040 x 2200 = $6 million

EBITDA $14.4 Million

Year 3
Construct Lynda/Lorna Doone $4 million
Extract 10% Paltridge North -$5.1 million revenue
Extract 20%Lynda/Lorna doone = 2175 x 10000 = $21.75 Million Revenue
Paltridge North Opex = $1.5 million
Lynda opex = 2175 x 2200 x 1.23 = $5.9 Million

EBITDA $15.5 Million

Year 4
Extract 10% Paltridge North $5.1 Million
Extract 20% Lynda $21.75 Million
Opex $7.4 Million

EBITDA $19.4 Million

Year 5
Extract 10% Paltridge - $5.1 Million
Extract 20% Lynda - $21.75 Million
OPEX - $7.4 Million

EBITDA - $19.4 Million

On those figures, 4p is very doable with the other assets. In my opinion.

I think thats a realistic timeframe. The problem is we need basically £100 million, if that was raised now, everyone would be diluted to nothing.

Once you have LC running, it provides leverage to raise, firstly just by raising the shareprice considerably, it could return the shareprice to 4p in the current climate.

Put it this way, call it a security measure, you'll soon spot an imposter!

ahah sorry, I keep getting it when I use the phone!

A large part of it is sentiment. Do people believe SML can get LC or Redmoor built?

CUSN have a stonking II behind them in Osisko Developments, with a board with a solid track record.

South Crofty is far further down the development path than Redmoor,as much as some dispute that - they could literally start construction and dewatering tomorrow- projects in that position are few and far between. An in the world of $30k tin, it us possible tgat a major investment could occur at any time. If you look at some if tge trades in tgd last week, there is some serious money going in.

Get the PEPR and this will change very quickly.

Apparently Mark Thompson (Chairman of Tungsten West and looking at other projects in Cornwall)is presenting.

Before getting too excited though, let's just wait for tge drill results.

Also bear in mind UD is the "small" project. South Crofty is the ultimate prize and then there's Wheal Alfred just for starters

That's for the United downs project

If we said 6 Million Tonnes @ 4% Cu and 1% Tin, in ground each ton is worth $700 (at $10,000 and $30,000 respectively) , so take a mining recovery of 80% and a processing recovery of 85% , that would give a total revenue of $2.8 billion. Say it will take £70 million to open a mine and £100/tonne to mine, then life of mine costs would be £550 million, that will give a total life of mine operating profit of £1.5 billion. A 500,000tpa operation will give a 10 year mine life.

https://www.podbean.com/player-v2/?i=sdbjd-e628af5-dir&share=1&download=1&rtl=0&fonts=Arial&skin=1&btn-skin=7&multiple_size=315&square_size=300&order=episodic&filter=all&limit=10&season=all&tag=all&square=1

I suggest you all have a listen to this from about 30 minutes in, where you will get a good upstanding of structural issues in tge copper and tin markets with a very interesting price prediction on tin prices, which would put South Croftys profits in tge hundreds if millions of pounds per year and could easily transform CUSN into a multi billion pound company.

At present they have $200 million in the bank

If you think about it, unless the mine enters production, a royalty us worthless, so why would you provide royalty finance unless you were committed to ensuring the mine enters production?

They are all options, but ultimately Osisko will decide the way forward

Potentially yes, however everything above the 380fm level was extensively mined before 1990. The flip side is there hasn't been a huge amount of diamond drilling in the upper levels.

Gren Thomas is also incredibly wealthy in his own right, which then links to Lucara diamonds

Not a hope in hell a bank would. but you need to look towards Osisko development, the main shareholder

$118 million is a low capex solution, the task of reopening is absolutely massive. Build th water treatment plant, a bulk excavation of some 50,000m3 of material for tge processing plant construction, pumping of 25,000m3 of water every day for 3 years, massive refurbishment of the underground mine and purchase of capital equipment, upgrading tge power supply to the mine, construction of a processing plant and ancillary buildings.

Duck pond is likely to cost around $25 - $30 million over 3 years - can you see my point you don't need $30 million up front, you are looking at costs of around a million dollars a month. To begin with, the physical mill structure will need to be built at Ming - I would anticipate tgat this would all be new, you will then have staff at duck pond disassembling and at ming reassembling, along with fitters and electricians rewiring and installing pipewirk