Member Info for Valuation-it-is

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
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.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://www.youtube.com/watch?v=vPid53ornow
https://www.youtube.com/watch?v=OSP5mY1FegE
https://www.youtube.com/watch?v=01W3bJc_MpA
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://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
Price of tin 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/

This is just the begining. This share has the potential to go up ten times from here,. That is on South Crofty being refinanced and half decent news from United Downs. On top of that there is also masses of potential in the 30,000 acres of other mineral rights that CUSN owns and the interest in Cornish Lithium's activity.

BHP and Rio up
https://www.hl.co.uk/shares/shares-search-results/b/bhp-group-plc-ordinary-us$0.50

https://www.hl.co.uk/shares/shares-search-results/r/rio-tinto-plc-ordinary-10p

https://www.lme.com/Metals/Non-ferrous/Tin#tabIndex=2

https://www.mining.com/web/the-race-for-copper-the-metal-of-the-future/

......Record copper price by year-end?

This week, analysts at CIBC announced that they adjusted their end-of-year copper price forecast to $5.25 a pound, Kitco reports. The estimates are now 22% and 32% above 2021 and 2022 consensus estimates...................

Southwesterner.
I think you are right. If CUSN shows it can raise capital, it gets a re-rating because the probability of the project s going ahead increases which increases the probability adjusted value of the NPV .
We have already seen that happen after the capital raise associated with the admission to AIM. Shares sold at 7 p, now the shares are almost double that. It is a virtuous circle, which is driven by the increasing expectation of SC and UD going ahead. As it seems more likely the share price rises, which makes the capital rise easier, which finances the project etc etc.
Given the records of the board of directors this small cap company stand out a mile, and the backing of Osisko also increases the chances of raising project finance.

Exciting times.................

https://www.telegraph.co.uk/business/2021/05/31/small-investors-battle-chinas-bid-london-listed-lithium-miner/

Grizzle1 BBC Radio 4 at 6.23.27am 31/5/21 onwards. Many thanks for the tip off re the broadcast.
Clearly Mr Williams is trying to raise the profile of CUSN. That is good news for us - more people will hear about the company and wish to invest in what is a very small market cap at the moment.
Its a great time to be trying to raise project finance. Commodities surging in price, testing all time highs, with the switch to EVs likely to drive long term demand very hard indeed. National resilience is politically popular and the possibility of being the only tin producer in Europe must have immense appeal to "Frosty". Roll on G7................................
Market reaction Tuesday am?

It seems a nice dilemma to have...The return at South Crofty is very high on the basis of the resources known about at the time of the PEA 2017 . Since then, the resources have increased as a result of the test drilling at SC in 2020. So, an after cost , after tax NPV at current price levels would be many times the current market cap.
I think there may not be a dilemma as to which to do first. I think they may go ahead with both. My guess is that there is the appetite in Government to support both and the institutional appetite to invest in projects that produce three key elements essential to the green revolution i.e. Copper tin and Lithium.
Big recruitment and training would be necessary. Where better to announce that than St Ives in June .....

https://www.mining.com/web/freeports-adkerson-sees-copper-scarcity-trumping-cooling-effort/

.. on the RMM (Rambler) bulletin board. Worth a look.

Congo's copper production jumped 11.8% year-on-year to 1.587 million tonnes in 2020. The global copper market appears to be around 24 m tonnes, so Congo appears to account for just under 7%.
The figures are off the web, so please just take them as a guideline.

CK
Hugely important news - many thanks. As the third biggest exporter of copper in 2019, what proportion of the global supply did Congo produce?

CK
I think CUSN will receive a 2% royalty on electricity sold to the Grid, providing the source of the heat is from within CUSn's mineral rights area. Not perhaps going to be a huge earner for CUSN but will help to pay the bills.

G7 11-13 June clashes with the Falmouth Classics regatta. Forget the roads - head out on the water! A sight for sore eyes awaits....
https://www.falmouthclassics.org.uk/

At about 17 minutes the speaker gives the stats for the potential electricity that could be made from Geothermal sources in the UK. 6 times the UK's current requirements ! The first plant in the UK is at UD.............

CUSN benefits from an interest in Cl's activity in electricity production:- royalty + free carried interest.
"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."

New video re Tin Copper Lithium at about 8 minutes onwards.

https://www.youtube.com/watch?v=TQl9qRUlyow

Good thinking CK, I guess you have "been there, and done it" but a bit dangerous to have highly price sensitive results hanging about in a lab.
Scratch - What is your hunch based on?
I suppose if the results are positive there would be an advantage in delaying the info until the G7 meeting, so that it has max publicity. However, it might also be an advantage to be able to let Boris know beforehand so that he could justify an intervention with state aid. If the initial results are negative, then much would depend on the drilling to come.
I expect OM will have a pretty good idea already from visual inspection of the initial cores.
Anyone know when it was decided that St Ives would be the venue for the G7? Was there something going on at the time of the decision to trigger it?

Hi Bubble,
I have not heard when an announcement is to be made. I understand if there is news which is material to the share price it has to be announced without delay. The drilling programme extends over a long period - the first phase being 12 months.
Newsflow is indicated to occur throughout the 12 month period. See page 12 of the IPO presentation. Link below.
https://cornishmetals.com/site/assets/files/4930/2020-05-01_cornish_metals_presentation_website-min.pdf

I imagine the company will want to be very sure before it makes any announcements. Whether that is possible 6 weeks into a 12 month initial programme I would have thought doubtful. However other posters are expecting something imminently.
We may find there is news of a different sort though - progress on funding SC for example, or CUSNs interest in Cornish Lithium, G7news, gigafactories, etc There is much that could come through and be very good for sentiment.................