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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.

Is there a set date when they start pumping to lower the water level in the shafts? Sooner the better to keep up momentum

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.

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?

Interestingly these shares were sold at between C$0.25 - C$0.31, so quite a high premium over current SP. I wonder who purchased them?

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