Member Info for Valuation-it-is

It sounds as if the conditions set by TSX require some paperwork to be completed. So whilst approval is said to be conditionally given a delay in completing the deal has been agreed by all parties. It sounds inocuous but sometimes one should be a bit wary. If it is just a case of satisfying the TSX there may be nothing to worry about. If there had been a disagreement between the parties - that would have been bad news, but that does not seem to be the case.
By the way it seems the second link given to 30 June 2021 announcement, I think should have been to
https://cornishmetals.com/news/2021/cornish-metals-announces-a-restructuring-of-the-deferred-consideration-payable-for-the-cornwall-assets/
which was on 1 July 2021.

It appears the drilling exploration of the Trenares lode may have started........
https://business.facebook.com/CornishMetals/

Lupidog
The market cap is such that it is difficult to build a significant stake in the company, without impacting the share price. So the research needed has to be driven by a possibility of a small value holding rising very significantly to make the effort worthwhile. That produces an opportunity for a small investor as larger funds will not be able to buy in the size to make it worthwhile.
The key though is whether you can trust the facts, figures, comments etc that arise with the research. If you think you are being misled there is really no point in starting.

It seems to me supply of tin is going to fall faster than demand.
Demand is price inelastic, and tiny amounts of tin are used in high value items so a doubling or more in the cost of the tin has little impact on the total cost of the product being made e.g. i phone.
Whereas the supply is constrained by the very high cost now of the energy needed to smelt the metal. The reports coming in are of a need to curtail energy usage dramatically in a number of provinces of China. Big energy users like smelting and chemical producers are more likely to see supply cut, than hospitals and residential areas. So supply of tin may fall over the next few months. All of which makes me think the outlook for the tin price the next few months is strongly upward.

Of course this has little impact on CUSN as it is not producing. But a backdrop of a continuation of strongly rising prices for Tin can do no harm to the company's current financing efforts. The cause of the problem - lack of energy in China - and a setback to manufacturing/production will also remind our politicians of the need for resilience in the UK's supply chains.

A report in the Telegraph today considers the shortage of power in China which is expected to lead to cut backs in metal production.
"Metals producers will face a 40pc production cut in “red” provinces, the investment bank estimates, falling to 20pc in “yellow” areas that haven’t missed their targets quite so badly."
and
"Robin Xing, economist at Morgan Stanley, predicts overall steel output will be down 9pc in the fourth quarter compared with the same period in 2020, while aluminium will fall 7pc and cement 29pc.

As the world’s workshop stutters, the rest of us are set to feel the effects – from our wallets to supply shortages.

“Anything that uses metals globally is going to be affected. Even if China doesn’t export to you directly, the price is determined by supply and demand so you cannot escape it,” says Craig Botham, chief China economist at Pantheon Macroeconomics.

China is by far the world’s biggest producer of steel, for instance, churning out almost 1bn tons in 2019, compared to India’s 111m tons in second place."
Source: https://www.telegraph.co.uk/business/2021/10/03/chinas-power-crunch-puts-global-economy-red-alert/?li_source=LI&li_medium=liftigniter-rhr

Fira 6 quid! Where and what were you drinking.............................Tarquin's gold flecked gin?

A huge amount of energy is needed to smelt metals. The cost of that energy has gone through the roof. Similarly the cost of moving ore and finished metals around has exploded. This will add to the price rises we have already seen due to a shortage of supply. What is happening to steel is also likely to happen to tin copper etc.

Oxford Nanopore
A DNA-sequencing company which provides Covid-19 test kits to the NHS, Oxford Nanopore has valued at £3.4bn in a London share sale that capitalised on a pandemic boost.
Oxford Nanopore shares in the initial public offering priced at 425p each, in the top half of an initial range.

The company raised £350m selling new stock, while its backers offloaded existing shares worth £174m. The University of Oxford spinoff’s holders sold more shares in the IPO than planned due to high demand.

The company has also given Gordon Sanghera, its founder and chief executive officer, a special class of shares with extra power to block an unwanted takeover.

The Oracle Corp.-backed company's sequencing technology has been used by researchers to identify and track Covid-19 variants.

Oxford Nanopore has added about $1bn to its market value since its last funding round in May, placing it among the UK’s most valuable startups.

Prop Great post of ********** interview. Positive indeed.
HMG is faced with a number of deserving cases seeking help with financing. If you were Lord Grimstone/ Michael Gove which, if any would you pick? How would you decide whether to favour one set of investors over another?
Perhaps you would put money into a pot, and let an appropriate qualified body choose how to allocate funding to get the best bang for you buck. .................

Give the lack of executive directors, who if anyone, is representing us at COP26?

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

Don't let me hold you back then...................

sensetalka
"we all know the risks of AIM. "

I don't think we all do.................

Patxaran
The link to the investors Chronicle article that you posted is very interesting and contains warnings many of us who invest in AIM shares should heed. Clearly we are "walking on the wild side" with AIM.
The following extract gave me cause to think hard.
"Another risk of placings is that they are leaked. This helps nobody, as people sell, which drives the share price lower, which inevitably means that those providing the fundraising will want a bigger discount. Those who leak placings often claim that they are making everything fair for everyone – but those who are really hurt are the company’s actual shareholders. It’s value destruction with no upside.......
.......
...Many people suspect that a broker will go short on a company, and then offer that same company cash through a placing. The broker then closes its short in the placing, and they are incentivised to offer as low a price as possible to maximise their own profit."
In other words the broker buys shares in the placing to replace those that it shorted higher up before the placing. This must assume that the placing is for a company that is already listed on AIM and shorting is possible. So the broker is incentivised to make the placing price as low as possible.
PHE's placing price was very low early this year................

Lupidog

I suggest you team up with someone who has 5% of the company's shares and put forward a motion at a shareholder's meeting to that effect.
Anyone aware of the major shareholders in SML?

Brixton
Funding. I agree, funding should be much easier to arrange now, in a world awash with QE cash, interest rates near zero, and the tin price at record levels. The market may shortly see that Tungsten West raises finance easily - for restarting mining at Hemerdon. If so, other projects such as South Crofty, will move from having for example a valuation reflecting for example a 30% chance of funding to a 40 or 50% chance, with a commensurate rise in the market's valuation of CUSN.( i.e. potentially a rise of one third (40/30) to two thirds, (50/30) - assuming SC accounts for the vast majority of the value in CUSN.) Apart from the funding issue, TW will bring a spotlight to bear on mining in the SW.
Furthermore, TW has an ambitious Executive Vice Chairman in Mark Thompson, who is not going to let a nearby asset go unnoticed if its market cap is way below the true NPV of the resource. Watch out SML.

Bule in Indonesia
I asked the question last week about Redmoor. My understanding was that the exploration had been undertaken years ago (2018? start) and I was wondering what the result HAD been. For the result to come out now is a surprise to me, and I , like you wondered if the discussion on the board had triggered an opportunistic news release. It would be interesting to know how long the board had this information before publishing it. What ever the BoD's motives, it seems like good news to me.

JV, using some spare capacity at Hemerdon, perhaps, Bubble?

The Irish drilling company has moved several rigs across to Cornwall. There are possibly three available. Worth checking with the company perhaps? The sooner everyone gets the results the better...........

That is great news, perhaps expected though.
So CUSN are exploring the UD lode, the nearby Trenares lode, have got permission to explore at Carnkie, and are looking to explore at Wheal Alfred (Gwinear near Hayle) That will mean news flow and a good chance of discovery of valuable mineralisation. All this on top of the potential at South Crofty.