Member Info for Valuation-it-is

https://www.telegraph.co.uk/business/2021/07/27/government-told-secure-battery-materials-avoid-losing-electric/?li_source=LI&li_medium=liftigniter-rhr

"...........................However, the Lords warned that this would be impossible without securing the basic materials needed for the batteries, as countries including China and the US seek to guarantee their own supply chains. It called on the Government to outline a “critical raw materials strategy” that made better use of domestic resources..................."

A good start point for your research is :-

https://cornishmetals.com/investors/presentations/

https://money.tmx.com/en/quote/CUSN

Expert reaction: London-listed mining stocks rise

Michael Hewson, chief market analyst at CMC markets UK, comments:

Mining stocks in particular have been looking strong after Anglo American [Platinum, a platinum unit of Anglo American] reported a bumper H1 earnings report, posting record earnings of R63bn [£3.1bn].

Today’s report kicks off a number of miners updates this week, with the sharp rise in commodity prices seen over the past few months helping to push Anglo’s total revenues much higher in H1. Revenues came in at R107.5bn [£5.25bn], a 155pc rise from last year, which in turn helped to push earnings up to a record R63.3bn [£3.1bn], an over R50bn [£2.4bn] increase from the same period a year ago.

The rise in revenues and profits was driven by sharp increases in the production of platinum, palladium and rhodium, with nickel and copper also doing well, with the company saying it would be paying out a dividend of R175 [£8.5] a share.

This performance has raised expectations that we’ll see a similar outperformance from the likes of Rio Tinto in the next couple of days, and Glencore next week.

SW'er--"Thats still a lot of money, its about 1/2 of their current market capital, its going to be tough to raise that all in equity even with the current momentum. "

It is true $25m is the equivalent of around half the market cap but I think the combination of up front funding from one or two off take agreements and perhaps a Government grant from the leveling up fund run by the recent SC visitor Lord Grimstone, will make an equity raise quite small, if needed at all. There appears to be large investor appetite for green revolution materials copper/tin/lithium as the recent oversubscribed Cornish Lithium equity raise demonstrated. If CL can raise £8m through crowdcube, I would think CUSN could well be oversubscribed too and have to scale down allocations, and that is if they have an equity raise at all. The management team have shown considerable negotiating skill recently - and given their CV's, are worth backing.
I think the timing is fortuitous for CUSN. There are undoubtedly current positive influences on the price of tin - covid- civil unrest, transport problems. But the long term backdrop of increasing demand and dwindling supply is also there, which will support the prices several years out when the (SC) mine comes into production. The amount of tin ore in SC is vast, ( RW estimated 20+m tonnes in the utube video) and with shafts and a decline already present, a lot of cost and time will be saved. Western Governments will also want this to succeed to increase resilience and reduce reliance on China.

Perhaps I should take a cold shower, but this looks extremely promising to me. Anyone know of a better investment amongst the small exploration shares?

CK and SW'er
You were debating the de-watering process a few weeks ago. Section 18.2 of the report published today gives the following info. (see last sentence in particular):-
NCK shaft is the main access point for the underground workings, with the vertical shaft extending
to a final depth of 769 m below shaft collar. Further sub-declines extend from the lower depths of
NCK shaft and reach an eventual maximum depth of 885 m below surface.
This Dolcoath Deep Adit system is a key piece of infrastructure related to the dewatering of the
mine. This network of drainage tunnels extends from the southern extents of South Crofty’s surface
permit, to a discharge point approximately 2 km linearly to the northwest at Roscroggan. The main
adit lies approximately 50-55 m below surface and ensures connected mine workings above this
elevation are kept drained. This conduit currently discharges an average of 15-20 ML/d of untreated
mine water into the Red River.
The location of this discharge point is advantageous for the dewatering phase of operations at South
Crofty, as utilization of the adit system negates the need to discharge the full quantity of treated
mine water into the Red River below the mine site. This significantly reduces the flooding risk for
the urbanized area of Tuckingmill, which being located to the south of the Roscroggan adit portal,
therefore remains upstream of the discharge point for the majority of treated water from the mine.
Connected to this adit system is Middle Engine Shaft, situated on the South Crofty Project site
immediately adjacent to the Water Treatment Plant. This shaft is concrete lined from surface down
past the adit level and is proposed to be utilized as the primary route for the treated water discharge
pipeline, as well as an integrated escape ladderway servicing the existing underground workings.

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

It is South Crofty which is fully permitted.

Link
https://www.sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00020943&issuerType=03&projectNo=03237042&docId=5008410

The extent of the assets that is South Crofty is becoming clear to Mr Williams CEO.
Listen to what he says at 31.50 in the Utube broadccast posted by CK below:-

"We see potential for at least 20m tonnes of resource..." (at South Crofty)

Assuming a 1.5%recovery that would equal at least 300,000 tonnes of tin. At today's tin price $34,377/tonne the value of the smelted metal is over $10bn...................................
Whilst the tin price may rise or fall, and that is before extraction processing and smelting costs, clearly there is huge potential here.

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

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

SC looking better and better................................

GeoCubed selects GeoLith’s Li-Capt® DLE Technology for United Downs Pilot Plant
and
Deep Geothermal Water Samples Successfully Obtained Following GEL Pump Test
Cornish Lithium, the pioneering mineral exploration and development company headquartered in Cornwall, is pleased to note that GeoCubed, the joint venture between Cornish Lithium Limited (“Cornish Lithium”) and Geothermal Engineering Limited (“GEL”), has today announced that GeoLith SAS (“GeoLith”) has been selected to provide their Li-Capt® Direct Lithium Extraction (“DLE”) technology for GeoCubed’s Pilot Plant (the “Pilot Plant”). GeoLith’s DLE technology was selected for use in the Pilot Plant following a comprehensive tender process. The Pilot Plant is due to be commissioned at United Downs in Cornwall by the end of March 2022.

The £4 million Pilot Plant is being supported by the Cornwall and Isles of Scilly Local Enterprise Partnership (“LEP”) with £2.9 million from the UK Government’s Getting Building Fund.

During the selection process, GeoCubed and Cornish Lithium engaged with over ten providers of DLE technologies to evaluate their effectiveness on Cornish geothermal waters. Following the completion of these evaluations, five providers formally tendered their DLE technology for use in the Pilot Plant. GeoLith’s technology was selected due to the quality of their tender, the effectiveness of their technology, and their ability to design and deliver a Pilot Plant.

The Pilot Plant will be utilised to process the 140 metres3 of deep geothermal water successfully obtained during GEL’s recent testing at its United Downs site, which will confirm that lithium can be produced in Cornwall from geothermal brine. The Pilot Plant is planned to have a nominal capacity of 10 tonnes of Lithium Carbonate Equivalent per year and the results of the pilot are expected to provide sufficient information to enable the design of a commercial lithium plant in Cornwall.

Jeremy Wrathall, CEO and Founder of Cornish Lithium and a Director of GeoCubed said: “We are delighted to announce that GeoCubed has selected GeoLith’s Li-Capt® technology for use in this Pilot Plant. We have established a good working relationship with the team at GeoLith, who provided a demonstration plant, along with their operations team, to enable us to test their DLE technology on our shallow geothermal water samples in June. This test work provided excellent results and we look forward to working with them.

“The Pilot Plant being constructed at Cornish Lithium’s test site at United Downs will enable us to demonstrate what modern, low-carbon mineral extraction looks like as well as demonstrating the viability of DLE technology on Cornish geothermal waters. By processing the 140 metres3 of geothermal waters collected from the United Downs Deep Geothermal Power Project, the Pilot Plant will provide important data to enable the design and construction of a commercial scale plant as we work to establish this innovativ

funkinmonks
The Geocubed project at United Downs is I believe on CUSN's mineral rightsand is subject to the agreement with CUSN. (Details below).
The Cornish Lithium project which is likely to be commercialised first, is however the one at Trelavour (near St Austell) which is a hard rock project (not brine) and is not on CUSn's mineral rights acreage.
The CUSN IPo presentation stated :-
Cornish Metals exposure to Cornish Lithium
The Cornish Metals Pre IPO presentation stated:-
----------------------------------------------------------
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.

I hope that helps.

funkinmonks
Cl's next fund raise will probably be an IPO on AIM. But if not they may raise more funds through Crowdcube. You could register with them in case. Otherwise you could send an email to the company offering to buy shares from earlier investors who now wish or have to sell some of their holdings, as there is no market at present for the shares.

https://ceo.ca/cusn

https://www.canadianminingjournal.com/news/osisko-drills-more-bonanza-grades-at-windfall/

Looks like Osisko will have plenty of cash flow........................

https://www.woodmac.com/horizons/champagne-supercycle-taking-the-fizz-out-of-the-commodity-boom/

https://www.mining.com/teslas-lithium-extraction-patent-catches-miners-attention/?utm_source=Battery_Metals_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=teslas-lithium-extraction-patent-catches-miners-attention

https://www.mining.com/web/ganfeng-to-offer-to-buy-millennial-lithium-for-up-to-280m/?utm_source=Battery_Metals_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=ganfeng-to-offer-to-buy-millennial-lithium-for-up-to-280m

https://www.mining.com/ev-metal-index-quadruples-year-on-year-as-lithium-nickel-prices-rally/?utm_source=Battery_Metals_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=ev-metal-index-quadruples-yearonyear-as-lithium-nickel-prices-rally

https://www.mining.com/dawn-of-a-mining-supercycle-are-you-taking-the-fizz/?utm_source=Battery_Metals_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=dawn-of-a-mining-supercycle-are-you-taking-the-fizz

Contact the company irene@cornishmetals.com to join the zoom meeting.
What will be presented:-
Richard Williams, our CEO, will take you through the current tin and copper market, the positive implications for our projects in Cornwall, the latest drilling results from United Downs and our plans for South Crofty.