Member Info for Cornishknocker

That RNS shows why the price went so low, half the workforce laid off, pumps switched off, no gold assays (I suspect the assay lab wasnt getting paid), by the end of October the whole operation was on a knife edge.
But thats now in the past, to hedge half the production at just under $7500/tonne is immense, it gives a really solid foundation for rebuilding with the new team - you can already see the production numbers improving from the low point. There is a great future here.

https://businesscornwall.co.uk/news-by-industry/manufacturing-in-cornwall/2021/01/cornish-metals-investment-opportunity/ I see they have a way for private investors to take part in the IPO. On top of that their main shareholder (osisko gold royalties) exercised $690000 of warrants last week.

Hi Angel marbles, yes I did my degree in Mining Engineering at CSM, I now work as a civil engineer.

If you had watched a cornish fishing life this week, that was in tgat area

Hell he died tge year before I was born! You definitely wouldn't recognise it down here!

Its not a particularly touristy route

You can reduce trucking costs by on site crushing and DMS or ore sorting, which would reduce the trucked ore by approximately 30-40%, typically for a loss of 3-5% of metal.

I don't know how old you are, but I imagine you mean the river Gannel down Newquay? But there have been a lot of road improvements down here.

Tge county has one main Artery (The A30, which is now nearly all Dual Carriageway, with tge A38 feeding from Plymouth and South Devon and the A39 from North Devon.

The A30 links to the A38 via the A388 which runs right through Kelly Bray and Callington from Launceston to Saltash, other than tge section from Kelly Bray to Callington, its a pretty good road.

On the scoping study the plan is 600,000 TPA, which equates to 60 Artic tippers a day (6 an hour over 10 hours, 7 days a week). That could be reduced to 4 trucks an hour with Ore Sorting/DMS.

Ginsters, that should be

You're looking at down tge A388 to the A38, its A road the whole way. Grinstead are based in tge same town and they aren't short of trucks on the Road

For me there are 3 scenarios i would like to see a DCF analysis for: -

1. On site processing.
2. Off site toll processing.
3. Initial Toll processing, with on site processing taking over in later years.

That would help make an informed decision on tge way forward.

I'm not a fan of off site toll processing, you face transport charges and processing charges. Coupled with that what if the offsite processor goes out of business or hikes the charges?

I would be bloody amazed if we didn't!

You seem to be heading back to the days of RTZ and Carnon Consolidated there Southwesterner......

Well you can't have a chat in the pub about these things, so why not. Just to be clear - I don't think I know Southwesterner, but I may do and not realise it.

Everyone has a slightly different view on how any one project can be best built, thats the enjoyable bit about a debate, everyone learns a bit.

Completely disagree with your assessment, Cornwall gas a history of commercial mining of most metals and thats well understood down here. Cligga and Castle an Dinas are probably the two most famous tungsten mines down here.

My point on scheduling was this: -

In the early couple of years a tailings disposal facility is needed, Hemerdon has one.

Once you have stoped out workings you can backfill and potentially recover pillars, but you then need tailings.

So one option would be to aim for on site processing in year 3 of production, targeting mining at the high grade tungsten only sections, utilising Hemerdon for processing in years 1 and 2, which would enable cashflow while constructing an on site mill.

Once you have that you can then target polymetallic sections, using the tailings to backfill earlier worked out stopes and recover pillars (about 20% of the ore), while reducing your mining costs by removing the transport element.

By doing this you would considerably increase your revenues, by separating out the copper.

Its being re-equpped at the moment Troajan.

https://tungstenwest.com/

As I say Southwesterner, you and I can disagree on that one, but with out seeing the cashflow analysis, its hard to say whose opinion is right - and that analysis would be heavily influenced by mine scheduling.

Of course, both of our opinions come from a gut feeling point of view, it would be interesting to see in an investment comparison

I agree with most of what you say there Southwesterner, the only area I disagree with you is the processing. The big difference between here and Hemerdon is grade, the hemedon plant is designed to concentrate a low grade bulk tonnage operation - redmoor isn't that. The kind of deposit that redmoor is, it requires among the simplest process flow sheets to remove the tungsten - basic gravity separation (tin can be separated from tungsten with mag sep) (the drill samples show a really coarse tungsten mineral), then its pretty straightforward to add in copper flotation. I don't think its worth trucking to drakelands

Its just suddenly struck me that NR Global whose website that is is also advising us on Redmoor.

https://lounge.nrprivatemarket.com/osprey-mining/ This is the latest company that has appeared down here, which Jeff Harrison is involved with (They are now called Cornush Tin). The presentation is interesting, it gives you a good idea of the structural geology.