Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
GEL are based at CUSN’s United Downs mine
UK geothermal developer seeks £600mn to expand into lithium in Cornwall
https://on.ft.com/3MIBguf
Company is well funded, on program and positive long term tin demand/price. All should become apparent when feasibility study published end of 2024. Markets aren’t rational at times of uncertainty, but take Warren Buffet’s mantra, when markets are fearful, be greedy. Good buying opportunity.
CUSN article in Times today about the start of pumping at South Crofty
https://www.thetimes.co.uk/article/752b99d6-6f76-11ee-b0f3-053d83492f27?shareToken=2190f65d97ade92ffab73d16d854f914
CUSN mentioned in FT article article about Cornish Tin
Financial Times,
Crown Estate grants Cornish Tin rights to explore for region’s gold
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Harry Dempsey
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Read the full article at:
https://on.ft.com/3ZZi0xX
Interesting article in Financial Times today.
Copper producers warn of lack of mines to meet demand for metal
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Harry Dempsey and Euan Healy in London
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Read the full article at:
https://on.ft.com/46nJO1s
Does anyone know why the copper potential at United Downs does not feature in the overall CUSN MRE picture?
I realise the CUSN focus is on South Crofty and the tin resource there, but given the future Copper shortages highlighted in the FT article & the seemingly high grades noted in the presentation, it would be interesting to get a feel for the potential here. Will this form part of the end 2024 feasibility study?
Imho I suspect CUSN is being dragged down by TUN. CUSN Volume today pretty minuscule, so can’t be driven down by sales. Two totally different prospects. One fully funded, with gilt edged backers, on program & with a potential resource estimate that will rise well above recently published figures. Whilst it shouldn’t be ,TUN is a bit of a basket case.
A huge shame if TUN is allowed to fail. Perhaps a pick up for another SW mining co.
Financial Times,
Tungsten West warns of insolvency risk in race to secure critical UK permits
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Harry Dempsey in London
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Read the full article at:
https://on.ft.com/3PBKXwz
Vii - the controlling votes of existing shareholders are held by a very limited number of individuals with large holdings. Even with the likely dilution levels and disparity you highlighted, these guys are still going to win big if CL hit the brine mother load.
What will be interesting is the level of interest in the £6.9m Crowdcube raise planned in the near future. Imho they’ll hit that figure on day one. Will eat my hat if I’m wrong!
Vii
Times article highlights many of your thoughts on the disparity between existing small shareholders and the new funding deal
https://www.thetimes.co.uk/article/14f4d8a8-3e6f-11ee-87d9-ff29f95b54f7?shareToken=10f392b348e77f1ebb421174b80cbb22
Cornish Lithium investor canters towards becoming £1bn ‘unicorn’. Story now also in The Times
And the logic follows that for TechMet to become billion $ unicorn CL’ s worth could be a large part of that.
https://www.thetimes.co.uk/article/c5d8bc04-3ba2-11ee-81cd-1bf34cc855cb?shareToken=15a98dfc900fef830606aec477275321
LB
TechMet story also featured in FT today
https://on.ft.com/4596j9W
ATB Geewha
Vii - The Times article below advises that the new investors paid 20p/share & this will be price for £6.9m Crowdcube raise.
https://www.thetimes.co.uk/article/9356281e-35f5-11ee-a54b-14a9a87cf1a8?shareToken=a65b7e633bb4fcd9a39e4c235f6bc69d
Vii - dewatering
I have no mining background, more construction/ project management. However, one lesson I hope they don’t take from my industry is not being too over optimistic on timescales & fail to deliver on program. Not sure what the technicalities are, but would be good if engineers are able to undertake targeted drilling as upper water levels drop.
Looking forward to time when pumps are cranked into life
Vii
Great to hear your thoughts on this. Very interesting times ahead for all minerals companies in the south west. I think CUSN will be updating their JORC mineral resource estimate in the near future, so hopefully a big jump in figures there. If the results are good that should move the dial in the right direction.
Vii (12.34)
Just been reviewing various information sources and it’s not clear in detail where the location of subsequent 10% free carried interest projects will be. As CUSN would need to fund 10% of the development costs a reasonable assumption could be that they could be anywhere, not just on CUSN mineral rights areas.
I wonder what the chances are of CUSN & CL merging at some point to form a U.K. super group?!
This is great news for CUSN, given their exposure to the DLE (brines) element of Cornish Lithium. More announcements need to be made on the potential financial scale of this part of the operation, but the sp should rocket if this side of the business is larger than the hard rock part.
Vii - 19.34. Yes, I realised your comments relate to CL & indeed CUSN team are excellent.
Just to elaborate on my earlier comments (12.44) on CL's shareholder base, with a few notable names, aside from founder:
Arne H Frandsen - Pallinghurst Group, a world leading battery metals investor. Their investments include, Sedibelo Resources, Nouveau Monde Graphite, Nemaska Lithium, Talon Metals (TM have 75,000 ton nickel supply agreement with Tesla)
Keith Liddell - Lifezone Metals founder & inventor of Hydromet Technology. Owns Kabanga Nickel Project, one of the worlds largest/highest grade nickel/copper/cobalt projects. Plus a number of other mining board positions
Chris von Christierson - Purchased Kabanga with Peter Smedvig, Keith Liddell with BHP investment
Peter Smedvig - Norwegian billionaire founder of Smedvig Capital & original investor with CvC & KL in Cornish Lithium
Rupert Pennant-Rea, former deputy governor of The Bank of England.
Alverne Bolitho - UK MD of New England Asset Management, part of Berkshire Hathaway
TechMet/Brian Mennell- Technology metals investor with aim for strategic control over significant production of key battery metals. US government Development Finance Corporation are the majority shareholder.
A substantial pool of wisdom and experience within Cornish Lithium, so imho, feel the future is bright.
As Cornish Lithium is not listed, I can't post comments directly on their own forum, but as noted before, as CUSN have a notable commercial interest in CL this is a good forum to share views/information.
Vii- imho, I can’t see it going anywhere close to the path of TUN.
The principle shareholders & exec/senior management, look like a “who’s who” of global battery mining & financial heavyweights. I’ve done a deep drill of the more major shareholders and the stature of people on the list is astounding. Worth spending a hour or two researching. These people don’t waste their time/money on hopeless causes. CUSNs royalty exposure should reap dividends.