Member Info for Valuation-it-is

Po tosh

Croqman 10.21
Was the broker target set when tin prices were $22,400/tonne or thereabouts ? Now at $33,000/ tonne, I would say that target is likely to be revised very considerably upwards.............

Totally agree ggplyr.
In fact PLUS is sat on net cash, and did very well when the market crashed last year.

Cornishknocker 14.39 Its great to have your knowledge on this site!

Do you think we could make an estimate based on 350,000 tonnes of ore, So 3.5/2 x the 1800 = 3150 tonnes of tin in concentrate and then add a bit to allow for richer ore at greater depths say 4000 tonnes of tin in conc. ?
At $33k per tonne price would that be worth $132m per annum? Net of costs perhaps $66m pa.?
This would be when the mine is fully up and running in year 3 of production.......................What do you think?

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!
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
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/
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

I think historical production levels would not be a good guide as mining techniques have advanced a lot in the last 30+ years. So production might be an order of magnitude greater than in the past.

Take a look at the PEA page 116..... here is an extract for you..

"16.6.1Mining Method and Backfill Selection The South Crofty LOM plan includes the Lower DolcoathSection, Upper DolcoathSection, Lodes2, 4, and 8, Roskear Section, and the Pryces -Tincroft Section, andcontains 2.58 Mt based on a sublevel longhole stope mining method with a process plant feed grade of 1.55% SnEq including 15% mining dilution and 95% mining recovery. This equates to a mine life of eight years based on a maximum mining extraction rate of 350,000 tpy. ......."

https://www.barrons.com/articles/copper-and-other-metals-are-the-new-bitcoin-heres-why-51620649594
and
https://www.barrons.com/articles/copper-and-other-metals-are-the-new-bitcoin-heres-why-51620649594

Good question FM
It should be easy to raise finance to re-start at SC given the surge in tin prices. Question is whether it will be government grant, debt, equity finance or a mix. I think it would fit so well with the Government's leveling up scheme that I am optimistic for some Government help - particularly on training up a workforce.
Otherwise,it was interesting that the PEA used a 5% discount rate, which appears to suggest debt financing is likely to be available. In the longer term, I expect a share issue. But who knows? The BoD.......

Alwaysone: 11.02
Did they produce any evidence at all for their assertion?

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

fingers crossed for UD drilling result.

https://cornishmetals.com/investors/presentations/ see page 5 -the opportunity

"South Crofty was the most important tin mine in the UK and is a strategic asset with one of the highest grade tin resources globally. Indicated (1.66Mt) and Inferred Resource (0.74Mt), advanced to PEA stage. "

Sounds as if they are readying the site for the go-ahead for de-watering. Lighting blue touchpaper!

Is there a better project for the UK Government to consider in its leveling up agenda?

De-watering and re-starting mining at South Crofty has got got to be a bullseye. Hundreds of jobs, in a post industrial area that needs work, all to provide a scarce resource which will improve the UK resilience, just at a time when copper, tin and lithium are in massive demand for electrification to combat climate change.
Queens speech and G7 may provide pointers to what support the Government may give.

https://pedfire.com/iron-ore-hits-record-high-as-commodities-continue-to-boom/

https://www.bloomberg.com/news/articles/2021-05-09/investors-bet-billions-that-the-metals-bull-run-isn-t-stopping?srnd=premium-europe

Buys are sometimes shown as sells, if the spread moves up before the deal is logged.

A buy of 1m was reported this morning and another 1m was reported this close. Not surprising really given the moves in tin, copper and lithium pricing. CUSN is sat on a huge tin resource and may be sat on Copper as well.

https://www.lme.com/en-GB/Metals/Non-ferrous/Copper#tabIndex=2

https://www.telegraph.co.uk/business/2021/05/08/china-electric-cars-drive-new-commodities-supercycle/

Bubble2021
Do you think they will not only have the physical core but also the assays in 10 days?
The drilling has been on site no2. I think they plan to drill from about 5 or 6 sites so I think there is a lot more drilling to do before they know the extent of the resource. We might get an initial feedback, with the quarterly announcement, but I suspect full results could take several months.
What I think will move the share price in the short term is news about plans for South Crofty - one of two super-giant resources of tin in the world. The sensitivity analysis in the Preliminary economic assessment suggests the after tax NPV of SC is huge - dwarfing the market capitalisation. Given the price of tin is increasing quite rapidly, the value of this resource is rising steeply.

Shorters getting a hammering today - o/s position on https://ceo.ca/cusn

When will they cover their positions- anyone?