Member Info for Valuation-it-is

We'd be best off dropping EDF and the Chinese and going with RR's SMRs, cheaper, quicker to bring to market, distributed power, and keep all the pay, tax, within the UK. But thats a bit off topic. I thought Boris was still positive about the Chinese?
Perhaps not.
I hope we can keep CUSN, CL, and BL in British hands.

https://drive.google.com/file/d/14y9oFNiqV1w_MOSvAsvf94HEd4-GbxGI/view

https://www.cornishtin.uk/news/cornish-tin-presentation-at-the-cornish-mining-conference-2021

https://drive.google.com/file/d/1YtUWxeW5d_GtboTktBTzNB1TiyKtXZvY/view

Bitcoinbuyer
I agree with you in your observations up to a point. Having heard both MT and PW/BG put their cases forward I know I would back the former rather than the latter. That is not to say I would not back SML but probably not to the same degree.
I misunderstood your 7.55am comment initially thinking TUN had taken a holding in SML, but clearly that was not your intention.
Not only has TUN' IPO demonstrated an institutional appetite, it has also opened up the possibility of a Joint Venture over Redmoor, or a sale of Redmoor, or indeed a buyout of SML. For the time being though I suspect TUN will wish to be seen to perform on its intention of bringing back Hemerdon into production ASAP. Thereafter, who knows?

Zhang said the company was looking at locations for new gigafactories in Europe and was considering investing in battery materials such as lithium to secure supplies.
“We are planning that — we are talking to a few companies,” he said.
Source :- https://swiftheadline.com/uks-first-gigafactory-set-for-huge-expansion/

the learner

Agreed, when I read Bitcoiners post I inferred that Tungsten West had a stake in SML, which would be very exciting news indeed. However the stake referred to and the TR1, is that of Schroders in TW - as you say nothing to do with SML.
TW have attracted Schroders, Orion, Lansdowne and AXA as well as a smaller holding by Eden Rock.

Trying to find relevance to SML with Redmoor 20 miles away, TW does have spare processing capacity, so a deal over Redmoor may be possible in the future.

It was on the Company website after the placing. Schroders were one of the key investors during the placing. The shareholding does not appear to have changed.
See
https://www.tungstenwest.com/significant-shareholders

Bitcoinbuyer Today 7.55am "Tungsten Wrst have a major holdings TR 1 "

Where did you find that information? please would you supply a link? I have looked through the LSE listing of announcements going back to 1/1/2016 and have not found a TR1 involving Tungsten West.

https://uk.investing.com/commodities/tin-streaming-chart

Bitcoinbuyer Today 7.55am "Tungsten Wrst have a major holdings TR 1 "

Where did you find that information? please would you supply a link? I have looked through the LSE listing of announcements going back to 1/1/2016 and have not found a TR1 involving Tungsten West.

Alkin. What is "easier" to do is not necessarily the right thing or the best thing to do for the company.
It is all too easy for shareholders to sit back and not be involved in the company they own. Criticism is often made of shareholders for doing just that.
I would be more likely to buy shares if Dr A has some success with his efforts and I suspect many more would too.
So, lets wish him good luck and not dissuade him from bringing the change which is so obviously needed.

FTSE risers and fallers

The FTSE 100 has pushed higher this morning, though it's pared initial gains slightly to trade 0.3pc higher.
Once again it's miners that are leading the charge, with BHP at the top of the index. Antofagasta, Rio Tinto and Anglo American are also in positive territory.

Hi Major Oak, Tyson
I followed your advice and have been tracking through the discussion.

To answer your question where is it all going to come from? It isn't. There is going to be a shortage of all sorts of critical metals that we need for the change over to electric. Particularly Lithium, Tin, Nickel Cobalt, Graphite, Indium and Vanadium. (So the changeover is likely to falter. )
They are going to be rationed by the price mechanism. So I guess it is worth knowing the demand profile for each of those and their price elasticity of demand. Tin demand looks very insensitive to price.===> Alphamin, CUSN.
Lithium demand is likely to rise 60x by 2030 with 26 gigafactories coming on stream in Europe before then and currently no supply for them. Watch out for Governments stepping in to protect their supply chains.
Have you found stats on Li reserves for SLI E3 etc ?

Bubble - I think you are right, but it may perform well from the start.

From the British Lithium website:-
"British Lithium plans to open a mine capable of producing 21,000 tonnes of the most in-demand lithium compound (lithium carbonate) by 2026 by drilling in existing disused quarries." and "Our Mi-Sep ® process for extracting and concentrating lithium-mica from Cornish granite reduces the mass requiring subsequent treatment by 80% without use of chemicals and is therefore significantly more sustainable than other existing methods. and " we have invented a low-energy, chemical-free process for physically separating the mica in granite that contains lithium."

Major Oak Thanks for the information.

A 5km deep borehole costs around £20m to drill,whereas a 2km one, about £200k. So with greater depth comes far greater cost.
As a comparison with Vulcan's 181ppm at 5km deep, Cornish Lithium were getting 250ppm with negligible contaminants. CL are keeping quiet about the concentrations at less depth.
Sounds to me as if CL might have the richer resource. I wonder if Vulcan have said anything about the level of contaminants as these are expensive to extract?
Then there is the question as to the efficacy of the extraction system each company are using, i.e. how much of the Lithium in the brine they can extract.
I think you are right to be excited about CL. I think it is possible they could turn out to be the world's lowest cost producer of Lithium, and with stunning ESG credentials - something which may be sadly lacking from current Lithium producers.
Don't forget British Lithium - unfortunately I have not looked into their situation so do not have data. I will take a look at their website though.
Thanks also for the Kasabian links. I don't think my laptop speakers do them justice so I shall be plugging into something much beefier shortly!

Tysonfury123 Good point
However investments in CL so far, have had the benefit of EIS rating which gives tax breaks.
The website https://cornishlithium.com/about/ (bottom of page) states:-
"Cornish Lithium is conducting innovative research into mineral extraction and development in the UK and has secured Enterprise Investment Scheme (EIS) advance assurance as a “Knowledge Intensive” company."
Having already raised I think around £14m through two funding rounds, CL is nearing the limit (£20m )for the scheme so it is not clear whether the next fund raise will be wholly within the EIS again or not or indeed whether the next fund raise will be outwith the scheme. Why not contact the company and ask?
You can read about the scheme here:-
https://www.gov.uk/guidance/use-the-enterprise-investment-scheme-eis-to-raise-money-for-research-development-or-innovation#how-much-you-can-raise

If CL floats on AIM, and the offer is open to the public without restriction, you will be able to put the shares into an ISA.
If the shares are not open to the public without restriction, (more likely) then after you purchase (outside an ISA/SIPP) you can do a bed and ISA, i.e. sell them having arranged to buy them back in your ISA immediately. A broker will not charge a lot for this and the turn a market maker will take will also be small. If you decided to do this, it is probably best to do at the open on the first day.
If your funding for your purchase is inside an ISA, then you can remove the cash from the ISA, buy the shares outside the ISA, then "bed and ISA " to get them in, BUT that has to be done in the same tax year. As cash taken out of an ISA can only be put back in within the same tax year.
I understand AIM shares are exempt from stamp duty.........................

Hope that helps .
Vii

Major Oak
Hope you got some good shuteye.
What are the best tracks from Kasabian? It is not a band I have listened to but will seek out a few tracks to see if I like them too.
If you have been away for a while you may have missed the exchanges arising from the Cornish Mining Conference which took place Monday-Tuesday 6 days ago.
Will the big boys take out the small companies? I think CUSN is vulnerable to a take over. Whilst Osisko has 19.99% it could block a full 100% takeover, but Osisko would probably not want to be a minority shareholder with a big company owner deciding dividend and other policies. The trouble is that CUSN has some very attractive assets which are valued at a tiny percentage of their worth (NPV). A big company could buy up CUSN, and finance the reopening of SC and unlock huge extra value. Shareholders find it difficult to turn down tomorrow's price today, even if there is huge upside potential after "tomorrow".
As regards Cornish Lithium, which I know is your focus, I think there is a golden share - which is convertible to many ordinary shares. I guess it is held by Jeremy Wrathall.
In fact note 16 to the accounts states :- "The Ultimate Controlling Parties are JBE Wrathall and LE Wrathall by virtue of their shareholding in the company." source:-
https://cornishlithium.com/wp-content/uploads/2021/05/Accounts-2020.pdf
The golden share probably does have voting powers which could block a takeover. But in any case we know that JW/LW control the company so that is irrelevant to our discussion.
If I was JW, I think I would have arranged the golden share to be able to block a bid. I wouldn't want years of my work to disappear for a 30-40% premium to the last share valuation. However, if a company came along which made a good offer and left JW/LW in position running the business, AND provided finance to see the project forward, the time saved vs an IPO and the security of funding, might be too attractive. I think JW is well motivated to do the right thing for Cornwall/UK, but he has invested a lot in getting CL to where it is now, so would not want to be taken over unless the offer was good AND he could see advantages to Cornwall/UK.
I guess that if CL floats as planned early in Q2 next year, there will be some considerable pressure on JW/LW to convert their golden share into ordinary shares. Investors / Institutions do not like several classes of shares. So up to flotation I think CL is safe, but after the IPO it may not be. So it will be well worth watching what happens in the IPO as if the voting rights are normalised, i.e. the golden share is converted, then a valuation of the business will have to include the possibility of a bid and the value of the ordinary shares should in theory rise as a result. My view is try to buy before the IPO. And ask if you an take part in the next fund raise.

I hope that helps. Now a search for Kasabian!

LLinv I suggest sending a message to Derek Linfield (Chairman) at

info@cornishlithium.com saying you would like to take part in the next funding round.