Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
China/Theo - Please discuss your views on the appropriate board. This board is for Pensana.
Magicallena
A cracking post. Thanks. CUSN starts at around 44 minutes. The interviewer was well prepared, punchy and one of the best .
However, one point which I felt was left unclear was whether CUSN has all the permits it needs to get into production. I understand that it has.
Another point which RW brought out at the end was to correct an erroneous perception that South Crofty is linked to many other mines hydrologically. However, RW expects pumping to continue at a rate of 6,500 cubic metres a day once the mine is dewatered and will then need only one of the three pumping streams currently being used to dewater the mine. (De-watering is currently removing and treating up to 25,000 cu m a day)
It sounds as if exploration news may be coming through in April onwards. And it sounds as if CUSN has several parties interested in providing debt finance. Most encouraging.
It is taking a very long time for the EA to either give approval (a permit) or to say what needs to be done to gain approval.
2 miles away from the mine there are a few properties which have been affected by low frequency noise in the past.
The time taken to try to remedy that problem has cost scores of existing jobs at TUN and quite possibly several hundred future jobs. Not only that, but Tungsten is a scarce resource on the critical metals list and the UK (and the West) needs a resilient supply of the metal. This is an example of how UK permit risk has cost tens of millions of investors money. Just because the mine had a permit in the past did not mean one would be forthcoming on a timely basis for a re-start.
Thanks LB. It was great to scroll through the earlier info too. One link takes a drone camera flight to the water treatment plant
This board is in danger of becoming a waste of time because of ill feeling amongst posters referring to another company.
The best option is to block any poster who continues to do so. Well said Lessee.
MO
Happy New Year to you too. I hope it is successful for you.
Best wishes Vii
Lewis: Is £31k per month total BoD remuneration?
Https://www.youtube.com/watch?v=5qkeHBaXoOI
The future of mining in the SW.
Https://www.youtube.com/watch?v=5qkeHBaXoOI
The future of mining in Cornwall
Why not talk RBW on the RBW board?
Https://www.telegraph.co.uk/money/investing/stocks-shares/investors-look-ahead-2024-optimism-gains-miner-glencore/
"For example, in the first half of the year it spent $1.3bn on acquisitions across “transition” metals such as copper and nickel. It also announced a $1.2bn share buyback programme and a special dividend of $0.08 per share. "
China, the world's top processor of rare earths, banned the export of technology to make rare earth magnets yesterday, adding it to a ban already in place on technology to extract and separate the critical materials.
Alternatives to Chinese suppliers are becoming more attractive - good news for PRE.
Its all about operational gearing.
The fixed costs will not be covered until the volume of sales rises. The order book and level of interest suggest that may come in 2025. Finance to cover increased working capital needs is as you say likely to come first, but a strategic partner may cover that need, or indeed if IES can find the right customers they may fund their purchases in stages.
Croissant
Have you heard that aggregates can be produced with out the outstanding permit? I thought the LFN came from the crushing equipment, but maybe I am wrong.................................
Clearly BoD remuneration is out of line with the size of the company.
Https://www.telegraph.co.uk/business/2023/12/15/china-weaponised-dominance-critical-minerals/
Https://www.telegraph.co.uk/business/2023/12/15/china-weaponised-dominance-critical-minerals/
Https://www.telegraph.co.uk/business/2023/12/15/china-weaponised-dominance-critical-minerals/
Hi Gingy
Cornish Metals exposure to Cornish Lithium
The Cornish Metals Pre IPO presentation states:-
----------------------------------------------------------
Lithium exposure through Cornish Lithium
Cornish Lithium has the right to explore Cornish Metals’ mineral right areas for lithium-in-brine & geothermal energy. Cornish Metals has a 25% free carried interest on the first project advanced to completion of a Bankable Feasibility Study within its mineral right areas, and a 10% free carried interest on all subsequent projects advanced to completion of a Bankable Feasibility Study.
Cornish Metals will receive a 2% Gross Revenue Royalty on all metals produced from brines or geothermal energy produced from within its mineral right areas.
From January 2017, Cornish Metals benefits from annual cash / share issuances from Cornish Lithium of US$50K per year in years 1-5, US$100K per year in years 5 –10, US$500K per year from year 10, and US$1,000K per year from year 15.
Refer to Company news release dated January 19, 2017 for further info.
Hope that helps. Unfortunately CUSN has taken its annual cash payments so far in the form of Cornish Lithium shares.
Those have recently been diluted by a deal CL did exclusively with Techmet, EMG and UKIB. Others and existing shareholders were offered a far inferior deal. It will be interesting to see if CUSN accepts shares again or now goes for cash for future annual payments.
SP Angel has re-iterated its 48p per share valuation and concluded:-
"Cornish Metals is gaining momentum with dewatering the flooded historic workings now well underway and feasibility studies progressing towards a decision point on a resumption of production. Drilling of the recently discovered mineralisation south of the mine is continuing with potential to add mineral resources, increase production, and extend the mine-life of a rejuvenated South Crofty."