Member Info for Valuation-it-is

Good observation CK
Whilst the replacement of the SC purchase arrangements has been known about for some time, it remained to be rubber stamped. Logically if one were to invest in CUSN, one would wait until the favourable change had taken place, rather than show ones hand which might perhaps undermine the replacement.
I suspect that many of the existing major shareholders will support a capital raise for de-watering, and thereafter the finance required may be project finance, funded without further recourse to shareholders. If I am right, the worries the market has, that are causing these shares to reside on a large discount to NPV will melt away and the discount will narrow sharply, giving a surge upwards in the share price, similar to the one we are witnessing at TUN at the moment.

Hannam and Partners have today, raised their share price target for 31/1/22, to 24.5p.

As confidence in the drilling results continues to rise, and uncertainty about the way forward diminshes, valuations should rise - followed by the share price. Tungsten West are currently showing just how a share price can perform as production edges closer and looks more and more certain. CUSN is a number of years further away from that than TUN, but the huge prize at the end of exploration, dewatering, financing and reconstruction appears to be edging ever closer. And this while the backdrop of demand for materials is more and more positive as the fossil fuel economy is transformed.

Fira - 6 years for Redmoor seems optimistic to me, unless it is opencast - which I suppose it might be.

Fira, I think perhaps you think I am writing about your short position on SML. I am not. I am writing about why TUN is moving up sharply.
Bitcoin wrote - "Tungsten west are flying started @ 60p IPO ...now 79p £137 market Cap

What does that tell you."
I replied. No need to get upset Mate. To respond to your points:-
Mine yes, processing facility - yes, money - yes, plns - yes , plenty of ideas - yes, and enough trust for a raise of £79m. but that is TUN.

It tells you the APT, tin and aggregates prices have all moved up since the brokers did their valuations. It also tells you that the discount for not be funded, is coming out, as funding has taken place.
A lot more upside to go though just for the above changes.
Shows what can be done by a man with a plan...............................

Will his talk be available on the internet ?

Great post Dr A which highlights 2 problems with swtching to BEVs
1. They are recharged with electricity from fossil fuels at present. - So inefficient and NOT green
2. Battery life is insufficient and it is impractical to increase battery size to counter that.

JCB have therefore decided to go down the route of hydrogen. And surprisingly it is hydrogen for ICEngines they have chosen.
I posted an interview with Lord Bamford a few weeks ago where he explained why hydrogen ICE was the way forward.

All of this plays directly into our "song sheet". PHE can offer hydrogen, distributed around the UK for hydrogen ICE vehicles and at a low price vs other hydrogen sources.
All we need are the employees to make it happen and the patents to make sure it is our idea not everybody else's.

Dr A

I hope you are well.... Thanks for the link. Indeed a cause for thought. Let us hope it is not costs running away that is the problem here, although I am concerned that the alternatives are possibly more worrying. Do you have any news about the progress of the Patent applications? Or who is progressing those at PHE?
Given the White family's large shareholding, and given Mr White's history with W2T, I wonder why he is not on the board?
Was there some falling out with past directors which now would be irrelevant?

"This reflects the confidence the parties have.........."

So not a lot of confidence then if Peel wishes to delay for ten months, before it commits.

Who on the PHE board of directors agreed to this delay? Why did the BoD not walk away and find a new partner who will commit?
The fund raise back in March was supposed to help speed things up. That has not happened - why not?

The world isn’t now mining, nor is it planning to mine, a quantity of minerals and metals sufficient to build as many batteries as the transition roadmap requires. About this fact there is no dispute, even if it’s being ignored. In a surreal disconnect, the International Energy Agency’s own analysis of the astonishing, even impossible mineral demands required for the wind/solar/battery path was quickly followed by a different report proposing an even more aggressive pursuit of the energy transition. Meantime, another recent study from the Geological Survey of Finland totaled up the overall demand that the transition will create just for common minerals—for example, copper, nickel, graphite, and lithium—never mind the more exotic ones. They concluded that demand would exceed known global reserves of those minerals.
Source :- https://www.city-journal.org/california-switch-to-primarily-solar-and-wind-powered-grid-is-dead-end?utm_source=Facebook&utm_medium=Organic_Social

I hope this helps, parish lantern, some heavy reading, some light entertainment
Company Website
https://cornishmetals.com/
Pre IPO presentation
https://cornishmetals.com/investors/presentations/
Admission document :-
https://cornishmetals.com/site/assets/files/5388/cornish_metals_inc_-_admission_document_final_10-02-21.pdf
London Stock Exchange https://www.londonstockexchange.com/stock/CUSN/cornish-metals-inc/company-page
Canadian announcements @sedi Cornish Metals Inc. $CUSN
SEDAR documentation
https://www.sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00020943&issuerType=03&projectNo=03237042&docId=5008410
The link to Canadian Market
https://money.tmx.com/en/quote/CUSN
https://www.stockopedia.com/share-prices/cornish-metals-inc-CVE:CUSN/
application for permission for drilling at UD
https://planning.cornwall.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=QPGGISFG0JQ00

The backdrop
https://www.bbc.co.uk/news/science-environment-57534978
https://www.bbc.co.uk/iplayer/episode/m000xjfy/spotlight-evening-news-01072021
at about 5 minutes in about Geothermal - who are partnered with Cornish Lithium.
https://www.youtube.com/watch?v=HKb8Zg05uYc
https://www.cornwalllive.com/news/cornwall-news/united-downs-tin-copper-drilling-5334622
https://www.youtube.com/watch?v=n9SD1Z1f0ac 3D computer model + some music by Queen!
https://www.youtube.com/watch?v=oKarlMJDwmA 2.35 and 5.15 of interest
https://m.youtube.com/watch?v=oKarlMJDwmA 2.37 in is where this years diamond drilling is going to be focused- the pink diagonal line there is the wheal maid decline
https://www.youtube.com/watch?v=vPid53ornow
https://www.youtube.com/watch?v=OSP5mY1FegE
https://www.youtube.com/watch?v=01W3bJc_MpA
https://www.youtube.com/watch?v=4FkGUOKLTac
https://m.youtube.com/watch?v=w9KNR6DbZMw
http://www.city-investors-circle.com/mining-review-sunday-roundup-14th-feb-2021/#more-8957
https://www.ft.com/content/40577a9b-d4d9-4cdd-8d08-43ce1c132406
https://www.internationaltin.org/nobel-prize-winner-explains-potential-for-tin-use-in-lithium-ion-batteries/
https://audioboom.com/posts/7797416-cornish-metals-ceo-richard-williams-introduces-the-company-projects
https://audioboom.com/posts/7797416-cornish-metals-ceo-richard-williams-introduces-the-company-projects
BBC ‘s Simon Reeves At S Crofty @45 minutes on
https://www.bbc.co.uk/programmes/m000pb6s
https://cornishmetals.com/tin/tin-use/
http://www.city-investors-circle.com/mining-review-sunday-roundup-14th-feb-2021/#more-8957
Bulletin Board in Canada
• https://ceo.ca/cusn
Hamman & Partners report
Cornish Lithium exposure
https://www.cornishlithium.com/
https://www.bbc.co.uk/news/uk-england-cornwall-54188071
https://youtu.be/FbzL09SoHdo
https://www.mining.com/cornish-lithium-speeds-up-hard-rock-project-development/
https://cornishstuff.com/2020/07/10/cornish-metals-new-name-for-new-mining-hopes-2/
https://wise-owl.com/reports/emh-is-leading-the-pack-to-be-the-first-local-eu-lithium-producer/ competitor

South Crofty exposure
PEA
https://cornishmetals.com/site/assets/files/4962/2017-03-31-scrofty-pea-c84ol6.pdf
https://www.proactiveinvestors.co.uk/companies/news/950587/cornish-metals-working-towards-re-opening-the-iconic-south-crofty-tin-mine-950587.html
Update to SC resource estimate:-
https://cornishmetals.com/news/2021/cornish-metals-releases-updated-mineral-resource-estimate-for-south-crofty-tin-mine/
PP application PA21/08673 for drilling at Carnkie Carn Lane Carnkie Redruth
https://planning.cornwall.gov.uk/online-applications/files/B226BEDE827D4AA61D9D6FC8FEF4E3C7/pdf/PA21_08673-LOCATION_PLAN-5880263.pdf
https://planning.cornwall.gov.uk/online-applications/files/42067919E49DB8D85AA115511080E8B2/pdf/PA21_08673-SOUTH_CARN_BREA_EXPLORATION_AREA_1_5000-5880304.pdf
https://planning.cornwall.gov.uk/online-applications/files/9281647489CD5C20F45478F6F51E6202/pdf/PA21_08673-SUPPORTING_STATEMENT-5880262.pdf

Price of tin
https://uk.investing.com/commodities/tin-streaming-chart
https://markets.businessinsider.com/commodities/tin-price?op=1
Guaranteed 5% offtake https://cornishstuff.com/2018/10/18/who-we-hope-will-mine-again-return-of-tin-mining-to-cornwall-getting-closer/
Other SML’s Redmoor op (not CUSN just competitor comparison)
https://cdn.website-editor.net/c077baaab49a4754a58400443da010c1/files/uploaded/191111%2520Redmoor%2520project%2520-%2520PDF.pdf
Board appointment John McGloin
https://www.bloomberg.com/press-releases/2020-10-27/cornish-metals-announces-appointment-of-john-mcgloin-as-director
Photos
https://www.cornishmineimages.co.uk/south-crofty-mine-old-workings
https://www.cornishmineimages.co.uk/south-crofty-mine-old-workings-3/

"It’s a little-noted fact that using wind/solar/battery machines to deliver the same amount of energy as conventional hydrocarbon machines requires about 1,000 percent more primary materials for fabrication."

Source https://www.city-journal.org/california-switch-to-primarily-solar-and-wind-powered-grid-is-dead-end?utm_source=Facebook&utm_medium=Organic_Social

Welcome Parish Lantern, I hope your switch works well for you.
Would you like some links to information on CUSN?

Major Oak

Many thanks for the link. I will keep and look at regularly. It is great to have a list of many companies involved in the area.

PS Keep an eye on Crowdcube the next few weeks.

Major Oak.
Thanks for the very interesting posts. I am convinced that the drilling and pumping are entirely possible and have been costed.
We need to know how those costs compare with established way s of producing lithium. Given that geothermal power is involved it is likely costs may be significantly reduced and perhaps be negligible after various by-products are sold - e.g. the heat/surplus electricity generated/ other minerals in the brine and possibly the de-mineralised water if the brine is arriving in arid locations. If the processing of brine can take place underground another major cost (pumping to the surface) could be reduced. Another key item is the level of contaminants. Expensive chemicals and processing time will be needed if contaminants are present. CL is lucky in that respect. As well as having found brine rich in Lithium, the brine is very low in contaminants.

PS Keep an eye out on Crowdcube over the next few weeks...................

Just like Tesla buying lithium supplies, JCB appears to be vertically integrating to protect its business.
PHE should pitch to all local authorities for installation of a DMG in recycling plants. Peel has had its chance, PHE should move on now. The UK needs distributed hydrogen, perhaps local authorities can finance building out a nationwide chain.

Ashstash89 "The entire pension system is heavily invested in companies that burn fossil fuels. Most of ours are the same, so why would a MP's be any different"
I think MPs pensions are paid out of taxation, not out of a fund.

Chief executive Andy Cornell said: "There's clearly a range of industrial heating applications, and even domestic heating, which won't be able to be met by electrification.

"So we're a solution for those areas. And then there are areas of transport - HGVs, buses - where electrification won't necessarily work.

"So we're not going to be the solution to decarbonise all of the economy. It's just picking the areas where you need fuels in order to be successful."

Continuation
The company says it will be the first in the world to take household waste and make it into gas that can be added to the grid. The ambitious project, which originally began in 2008, has faced problems, with a previous company going into administration. Some funding has come from the Government, including an £11m grant from the Department for Transport.

Critics of gasification plants say the process can lead to more waste if they end up processing recyclable products such as plastic, and that more focus should go on reducing the amount of materials used and thrown away and improving sorting and recycling.
Similar projects have faced technological problems, with American company Air Products cancelling two planned developments in the North East in 2016, blaming "design and operational challenges".