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Gingy - imho , anyone looking to short CUSN at the moment but have a really big pair, or money to burn. Monday will be interesting to see what happens on SP, especially as Canada is closed for a public holiday.

GLA

Vii- very interesting thoughts on the situation & imho think your comments are nailed on. It wouldn’t surprise me if VBR have picked up the shares from ODV at a firesale price, as I think they are fully committed to this project as part of their battery metal portfolio.

I’m just a bit annoyed I missed out on topping up at the 5p level, but added another 15% to my holding at 7p. GLA and keep the faith!

IMHO I don’t think it is helpful for CUSN to have a duel listing, as we get double the movement on little or no news. As many have posted ,none of the fundamentals are changing & topping up at a low level is attractive to the long term players.

It’s the tin price which will determine ultimate fair value & in the long term I can only see that going northwards, unless we go back to the stone ages.

Vii - as always very astute commentary on the situation.

What I can’t understand, is the movement in share price against very small volume. I can’t see the typical pumper/dumpers having any effect on share price. It’s quite mystifying to me why there is such a drag on SP, given the recent positive PEA. Updates on resources estimates + tin price increases should see uplift.

A bold statement from me, but I see this as an opportunity to buy £10 notes for £ coins.

I’m at 1.1M shares so putting my money where my mouth is. An exciting year ahead.

GLA

Vii

Financial Times article today that might be of interest

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Read the full article at:

https://on.ft.com/3JRMDhS

Vii

Do you know anything about First Tin PLC (Ticker - 1SN) ? They seem to have a similar profile to CUSN, with a historical tin mine in former east Germany (+ Australia) . Also not yet in production & with lower contained tin % than South Crofty.

Directors have recently made some large buys, so clearly confident in future of tin.

Hopefully they’ll keep aside a couple of billion to buy CUSN !

Buyers ready to dig deep for world’s miners

https://www.thetimes.co.uk/article/e025adb5-5e29-4afd-965d-bdb9f111d415?shareToken=e7635b4cb2a973d2509ab0f7ea413889

Hi Gingy. I’d be surprised if the major shareholders would want to dilute their shareholding. Looks like the PEA assumes funding will be via debt & will be paid back after only 3 years.

Gingy - Given the extensive mining industry contacts of the largest shareholder (Sir Mick Davis - VBR) its almost certain that the potential of CUSN is known within the industry heavyweights, there is a good chance things would move that way. I'd expect Sir Mick would want at least x4, what he paid (18p).

In some respects, I'm not surprised the share price hasn't moved much since the PEA, as it only processed mainly existing information (old mineral resource estimate x £31k/t SN price x process cost, etc) , to arrive at not too dissimilar conclusions to recently published broker reports.

We now know getting the mine operational is economically viable, which should result in a positive investment decision to build the process plant, etc. What will really light the blue touch paper on the share price, is a hugely increased mineral resource estimate......imho.

First quick run through of this morning’s PEA looks excellent. For me, the really exciting element is what they don’t show………..They still have to add in the increase of mineral resources from the current drilling programme. Further upside to an already excellent PEA could be enormous.

Wonder how the market will react this morning

GLA

Would love to know how much copper is in the ground at CUSN’s United Downs site. That could turn the dial up significantly on the SP.

Supply gap for copper ‘could grow to a third’, trader predicts.

https://www.thetimes.co.uk/article/6549a374-8b2a-4df1-8c34-caa2dac1a371?shareToken=4ef897f10a46deb33a8151b4cba6f0f5

BHP can now use the $31bn to buy out CUSN!

Vii

Many thanks for reminding us of Sir Mick’s perspective when buying into CUSN. IMHO, given the trajectory of the tin price, I think Sir Mick may exit when the price is well above £. Just my opinion & a bit of time will tell where I am on this.

GLA

Also interesting that volume of trades in Canada today (1.2m shares) are by far the highest for the last 12 months

Rooky

Very much agree with you .

Cavendish released a brokers note this morning reiterating that the sum of the parts valuation of CUSN is 25p, so should see some healthy upside on sp

Hi Vii.

Have just checked & the CUSN note is still there dated 21 March. Cavendish don’t allow you to distribute it ( as they watermark it with subscribers personal details) but it’s simple to sign up to access their research notes. A great resource for all companies and well worth signing up

Cavendish have published a 30 page CUSN research note today titled Tin in 26. Log on to their website & download- Well worth a read

Gingy

IMHO I think the route to build the process plant and further infrastructure will be down a project finance route, where debt is paid with future cash flow, or one of the big boys, Glencore/ Rio Tinto /BHP will come in with a buy out offer.

Can’t see VBR diluting their majority shareholding. Remember Sir Mick Davis has recently raised $650m, so raising capital for a project like this should not be a problem ( obviously he has many other portfolio projects needing funding) but it demonstrates finances are available to people who know what they are doing…….. not many have a better CV than him!

Interesting times ahead. DYO, but I’ve spent 3 years following this one and see more positives than negatives.

CUSN have never disguised the fact that their initial fund raising objectives were to reach the PEA and conclude the feasibility study, together with getting the mine in shape for an investment decision to enable production in 2026 ( obviously depending on positive outcome) The team at VBR , main shareholder, are mining industry heavyweights so imho don’t see any issue with the long term production funding.

Drop in SP on Friday with Richard Williams departure, only erased the 9% increase the previous day.

Time will tell with this one, but I’m staying fully invested

the departure of richard williams was not on my event horizon and will be interesting where he emerges in the sector, but comforting he can add in a consultancy capacity.

the pea is only a few months away and anticipate some substantial resource increases based on the last set of preliminary drill results. i’m sure we will all be doing some back of *** packet sums on potential after this. getting cavendish onboard for future placing sends out a positive message. will soon find out if my optimism is misplaced!