Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Vii - Yes, the capex sums are substantial, but the potential returns on investment are off the chart & will be interesting to learn the sources of funding when these become available.
As I posted previously (7 June , 08.34) the latest addition to the Cornish Lithium board is the UK MD of an asset management company owned by Berkshire Hathaway.There is always a good reason to make such high profile appointments. Apparently, Warren Buffett has a few quid spare, so might be looking at this........Just throwing it out there for comment?!
Vii - Will be interesting to see how thing progress.
Out of interest, I notice on HM Companies House website (posted 19 July) that CL has just passed a resolution to remove existing pre-emption rights. This potentially clears the way for additional new funding/change of control/possible IPO. IPO was pulled at end of last year, so this may be back on track - CL is now also a PLC, so company structure set up for this to happen.................Interesting times ahead and how this impacts CUSN upside
Vii- It’s the results from the DLE pilot plant ( processing lithium brines) that I’m most excited about, as it is here that CUSN will benefit from their royalty agreement with Cornish Lithium.
It may well be that the first revenue stream comes from Li rather than Sn for CUSN
Cornish Lithium quoted in DT article about Tata gigafactory. Will be interesting if a formal connection is reported between JLR & CL in the near future. Got to be a no-brainer to supply south-west lithium for the plant. Timescales also seem to work
https://www.telegraph.co.uk/business/2023/07/20/tata-gigafactory-britain-entry-into-global-ev-revolution/
Vii - is it good timing or just coincidence that big share option plan for directors announced in RNS just before gigafactory announcement yesterday. Options set at 18p, same as VBR investment level……imho this will be a multi- bagger
Rules of origin must have had some part to play in JLR decision.
Watching for news from Cornish Lithium now, as Brian Mennell has already advised funding announcements might come soon.
Light the touch paper and hold onto your seats!
Link to FT article
https://on.ft.com/3rqWhlF
Interesting article in FT about Cornish Lithium & potential benefits to CUSN due to royalty exposure. Take note of quote from Brian Menell (TechMet) pasted below. Looks like future funding announcements could be imminent
However, five active drills across Cornish Lithium’s sites suggest no imminent cash crunch, after auditors warned it would need £10mn by the end of this month to sustain operations.
Brian Menell, chief executive of Ireland-based TechMet, Cornish Lithium’s largest shareholder, said the company is working to secure funds for its feasibility study.
“We’re at an advanced stage in concluding a big funding structure,” he said. “Cornwall will grow to be a big producer of lithium battery chemicals over the next five years.”
Just to update my post late yesterday. CUSN issued an RNS after market closed highlighting that one of their main shareholders Osisko has reduced its holding from 10.11% to 8.57% through the private sale of 7,959,000 shares to an undisclosed buyer.
Would be very interesting to learn who is looking to build such large stake in CUSN and where this all leads? Obviously, only very small numbers of stock are available for general market trade so imho it seems something more strategic is happening ( assuming that Osisko aren’t needing to sell assets due to cash flow problems)
Vii & MO - how do you read this?
Oil and gas majors are stepping up efforts to break into lithium to diversify beyond fossil fuels as hopes rise over a technological breakthrough to produce the metal critical for electric car batteries.
ExxonMobil, Schlumberger, Occidental Petroleum and Equinor are exploring whether their core skills of pumping, processing and reinjecting underground fluids such as oil and water could be deployed to process lithium from unconventional brine resources, helping to ease forecast shortages of a material expected to be vital for the energy transition.
“There are a number of oil and gas majors putting a lot of time and attention into how they can become big in lithium,” said Brian Menell, chief executive of TechMet, a mining investment fund backed by the US government. TechMet has a stake in EnergySource Minerals (ESM), a lithium developer backed by oilfield services giant Schlumberger.
Possible heads up. There might be some future link with CUSN's lithium interests in Cornish Lithium.
Green Lithium (Teesside based) is fund raising on Seedrs to get the first UK based merchant lithium refinery off the ground. Seems an absolute necessity IMHO if the UK is to have any meaningful automotive industry after 2030, due to EU 45% rules of origin, to avoid punitive tariffs.
CL have just posted their first half 2023 results. An interesting read via the website
Most interesting takeaway imho is the appointments on advisory board. One person is Alverne Bolitho, the MD of an asset management company owned by Berkshire Hathaway ( Warren Buffett)
Vii
I’ve spoken with Green Lithium, as part of their fundraising to get their Teeside refinery off the ground, and understand they are planning to source spodge via Trafigura, rather than U.K. sources, but that could change.
Miner Cornish Lithium calls for UK Gigafactory action as it moves closer to production
https://www.express.co.uk/finance/city/1771906/Miner-Cornish-Lithium-UK-Gigafactory-1771906?utm_source=app
Reference to Cornish Lithium in Telegraph article
https://www.telegraph.co.uk/business/2023/04/18/rare-earth-gold-rush-electric-cars-uk/
Vii
I think you’re spot on with your thoughts.
$650m is one hell of a fund raise by Sir Mick, so will be interesting to follow the money. Imho a good chunk is going towards U.K. based lithium projects & there aren’t many of those around…..
Also not sure if you have seen that the British Geological Survey (BGS) released a report on U.K. battery metals etc on Monday. It’s available on BGS website & both CUSN/ Cornish Lithium get a mention.
https://www.bgs.ac.uk/news/report-identifies-areas-of-the-uk-prospective-for-critical-raw-materials/
Apologies to those who may not think this post is relevant to CUSN, but I feel it is.
Green Lithium (north east company) are doing a retail/institutional fundraising to build first European lithium refinery on Teesside. Links there how to invest on website.
Interesting quote on Green Lithium website by Brian Mennell CEO - TechMet “The UK and the world need Green Lithium to be a $5 – 10bn company in the next ten years to combat our reliance on international supply chains.”
CUSN have significant royalty exposure to Cornish Lithium, where TechMet are major shareholders. Could U.K. produced lithium be refined in the U.K.?
Something is brewing here. Thoughts?
Only 300,000 shares traded today - that’s 0.0005% of issued shares, so a minuscule volume & difficult to understand why there has been a 5% slide today & general downhill trend over the last few weeks. This sort of volume shouldn’t even flicker the dial. The project is well on track, company well funded with knowledgeable primary investors……… tin / copper to be in very high demand. CUSNs mining assets hold one of the largest historical ore deposits with more metal in the ground than has been historically extracted. imho take the slide as a great topping up opportunity.