Member Info for pawgee

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!

I believe the 9th largest tin smelter globally is located just on the other side of the English Channel (Metallo in Belgium) , so not far to travel , until decision whether a U.K. smelter is a viable option

Any thoughts on the RNS today?

IMHO, it seems to be positive news to bring forward the refurbishment of the NCK shaft and the £4m saving involved. I can’t see why BOD would reschedule this aspect of the project plan ( and incur forward costs) unless the likely outcome of the PEA is extremely positive , preemptively moving project forward in most efficient way that will result in the reopening of the mine. We will all know in a couple of months time.

Interesting article in FT today on critical minerals in U.K., with mention of tin, lithium & Cornish Lithium. CUSN has positions in all of these but surprisingly doesn’t get a mention. IMHO, When it publishes feasibility study it will hit the headlines

Financial Times,

UK left vulnerable by government inaction on critical minerals, MPs warn

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Harry Dempsey in London

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Read the full article at:

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

Great to see CUSN keeping shareholders informed with progress on dewatering.

Does anyone know if pumping has actually started (rather than testing /commissioning and if the water level is dropping?

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

Vii - many thanks for this.

There is much to be optimistic about over the next couple of years. Short term dips in SP are good topping up opportunities

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