Member Info for Cornishknocker

A lot of people have mentioned the overhang from the refinancing, prior to the refinancing the holdings of the companies that are subject to lock ins on the new shares were: -

CE Mining III - 431,592,148
CE Mining II - 396,363,636
Aether - 124,138,495
Lombard Odier - 47,284,599

Lombard are the only company that have sold any of their holding (They have sold all of their previously owned shares).

So heres my question, if the 3 other major holders have not sold any of those shares prior to the end of the lock in period, why would they suddenly sell them at the end of the lock in period? Thats 950 million shares that they could sell today that they have not.

Fair play, good luck with whatever you go to next

Our company is Leigh Creek Copper pty ltd

Looking at the share price over the last 6 months is pretty pointless due to the scale of the refinancing in December.

The share price hit a low on the 25th of November and trading was suspended shortly after, with the completion of the refinancing on the 8th December, since then the low (at that point it was questionable whether the company could continue) the share price has nearly doubled and is climbing slowly but surely.

I don't disagree with what you're saying Lupi, we do actually get a quarterly update on all projects within the Cobre quarterly update - perhaps a change of title on that update so its clearer its a company update, not just Cobre?

The issue there Lupi is if the company issues an RNS to say it has applied for an exploration licence it would have a minimal effect on the share price. If tge licence application failed, the company would then have to issue an RNS saying it had failed, which the way things gave been would take the share price below what it was before tge company said they had applied for it.

Thats exactly what it is a licence application for a new exploration licence 50km south of Leigh Creek, 60km south of the existing mining licences. There won't be an RNS until there is news - which would be the company has been granted a new exploration licence for the area.

Its still some time until the placing shares come into play.

If you can find it great, I've never managed to find it until the PEPR is approved

In short Gorsuch, what you have found is an application for an entirely new exploration area, nothing to do with the PEPR application for the current mining leases.

Absolutely Prop, if you look at the applications closer, these exploration areas are actually 60km south of the core Leigh Creek Mining Leases which are just North of Leigh Creek Town - so its actually increasing the companies exploration foot print in the area - quite substantially. The new area is 597km2 - our mining leases are ML5467 - Mountain of Light (250Ha); ML 5498- Lorna Doone/Lyndhurst (121.5 Ha) and ML5741 - Mount Coffin (200 Ha) - so this new exploration area if granted is over 100 times larger than our current mining leases.

You're managing to put 2 & 2 together and not getting 4 here.

In 2019 a PEPR was approved for the rpoject area for trial operations - it was confirmed in that PEPR that there were no historic aboriginal sites within the project area - thats not going to change.

And with regards to "not sufficient quality or quantity", that is a moving target, depending on price and technology and dare I say historians are not qualified to express an opinion on that. BEcause it may not have been in the past does not mean the same applies today.

Had the same last week and then some big buys were posted after the bell. There seems to be someone with the means loading up.

It seems that Osisko Development is not shy about splashing the cash in Cornwall at the moment - is Redmoor on their radar as a JV?

Very odd, is there a big buy somewhere?

That 8.5 million from Tuesday must have been a buy not a sell, thats the only explanation for not being able to buy a bean on Tuesday!

Interestingly Cornish Metals share price is climbing massively pre AIM IPO, its gone from 8c per share to 23c, despite large placings giving it a current market cap of $33 Million (£18 Million).

Can't buy a single share at the moment

Indeed Caribbean, I have a small section of 1000mm2 132kv cable under my desk. Its only one of the 3 phases and is about 50cm long - it weighs over 30kg. The project I am working on at the moment is 18km, using 2000mm2 cable - the weights are mind boggling.

Read my comment carefully. We have significant tin mineralisation although at the moment it is not the main show - which is very much the tungsten. I believe with further drilling to the west we will see that mineralisation giving way to predominantly tin. The tungsten being the heaviest mineral would have concentrated nearest to the source of the mineralisation (The Kit Hill pluton), as you go further from that it will in all liklihood transition to Tin.