Member Info for Cornishknocker

Why have I not been posting? Quite simply there's been nothing to post! LCCM is anyone's guess to what's going on, there is a warning to people about how difficult environmental permits can be.

On the Cornwall front, the county is on a high at the moment, SML have gone from being at the front of the pack to being in danger of dropping off the back, with nearly no tangible movement in the last 2-3 years, if you look elsewhere: -

1. Cornish Metals, all permits in place and potentially fully funded to production with the outstanding warrants.
2. Tungsten West - fully funded to production
3. Cornish tin, successfully funded by last weeks raise for 2022 drilling campaign.

I see That sml have applied to drill four holes in q2 at redmoor, testing the westerly extensions

They could buy what they've hired for $150,000 Canadian, so I expecting costing the grand sum of $1,500 per week which is frankly tiny.

Moon, a bit of advice for you: - don't invest in any industry that relies on heavy machinery if you want an investment that doesn't have problems

Cusn report to NI43-101(Canadian) not JORC (Australian). NI43-101 does not stipulate lab standards as its about the reporting, but the qualified person preparing the report may insist on certain standards - as they are putting their name to it.

The only standard that ALS have that Wheal Jane don't is ISO 17025, which is for calibration certification of equipment I.e. if you are calibrating equipment, that us the standard used.

Wheal Jane have typically carried out sampling metallurgical test work not exploration, so may not presently be equipped - but with sufficient work (which there now is) would probably look to take it on.

Wheal Jane is independent, when crofty shut, the management bought out the lab and have been contracting to the likes of Wardell Armstrong

Wheal Jane us UK AS accredited iso 9001 and 14001

Interestingly Wheal Jane laboratory is taking on a sample preparation technician and lab assistant, so hopefully they are looking to bring the analysis back to Cornwall.

Wheal Jane lab was Croftys in-house lab until the mine shut in 1998, the lab director was croftys chief chemist u til closure.

That would certainly speed up the drill and met results.

It is ALS,

Actually, places like Cornwall (and Cornwall in particular) are exactly the right places for Hydrogen production. Hydrogen is essentially a storage medium for electricity as opposed to a fuel - it takes around 3kwh of electricity to make 1kwh of Hydrogen. Cornwall has a massive amount of renewable generation subject to active network management - I.e. it is curtailed when too much is being generated compared to what is being used, so if you were to connect electrolysers to parts of the network subject to curtailment, this would be a massive bonus.

They have two different ores, Petalite, which happens to have a low iron content, meaning it can be sold as "technical grade" which carries a price premium and on a different site they gave found Spodumene, which is better used in tge battery industry.

If we could achieve tge same it would be around £350 Million. - note there are reason for afritins extreme valuation

Just to put some colour on tgat, with another single asset producer, Afritin's last quarterly results have them running at $8.5 Million annual profit, yet their market cap is £105 Million (P/E 16.6).

Sorry there was a slight fxxx up in my calculation, in that I didn't double the half yearly costs first, so that should be the overestimated costs at $40 Million, giving an operational profit of $25 Million and market Cap of £100 Million

Let's go totally over the top and say this year opex costs are $25 Million.
And let's be conservative and say production misses guidance by 10%, giving an income of copper alone of just over $65 Million, negating any gold and silver credits that gives $40 million generated from operations.

Assuming Capex is covered by the gold deal and increases on the balance sheet, that would become $40 Million profit, which would conservatively value the company at £180 Million £1.12 per share on a P/e of 6.

With regards to the current running condition of the mill, no one is sitting around - quite the opposite. In the current situation they will be feeding the ROM ore through the primary crusher as quick as they can, probably up around 2000tpd - if the rom stockpile is there

After going through the primary crusher, the screened undersized will be going straight to the grinding circuit, the oversize will be being stockpiled in a fine ore stockpile, waiting for the secondary crusher.

Having multiple mines is always a bonus, as things get on track, the board level involvement will reduce and they can start focusing on expansion opportunities

Yes absolutely with current copper price (I'm working on a figure of $9500/tonne), it's actually 10% higher

March revenue $4 million
H1 2022 likely to be around $28 million, so likely to be around $10 million Operating profit

Welcome to the world of mining and heavy engineering, this is the kind of teething problem you get as you rampup- tramp iron into a crusher happens and can cause chaos as it shatters the cast components.

As the speed of the feed increases the risk of something getting through the tramp iron magnets increases. However they need to assess their spares stockholding picy

This deal has probably been months in the making - probably since last summer, as a result theshare price rally in December/January has benefitted the company in that the placing price is considerably higher than it would have been