Member Info for Valuation-it-is

Trepid 8.57
Hopefully security will not be an issue as there is a family link between PHE and ENGSOLVE. It seems to me the link is between D Ryan at PHE and Pauline MacCarthy (HR/business partner) at ENGSOLVE. However, ENGSOLVE are probably free to do design etc work for others outside PHE. PHE's IP would probably have been more secure if the designs etc had been done in -house by PHE staff. I wonder what the legal situation would be if D.R. becomes a consultant to or at ENGSOLV?

Good luck with your investment JPP.
It is probably worth having a look back in April May, as there should be some feedback about the recommencement of drilling around that time.

Trepid 20.52
I think the newly recruited team would not have been there in 2019, so I guess Engsolve.

If you look at the volumes they are tailing off, which is a sign the sellers are dwindling in number. Buyers will probably come to the shares at a fairly steady rate with blips for news, so my guess, is that at some point fairly soon, we will see a reversal and the sp rise. Bit dependent on the Cu and Sn prices though.

Not so. Some adding going on. But on balance it appears to be in favour of flippers so far. Shame, but its good CUSN has the cash, and some, to undertake the UD plan AND test at Gwinear, and somewhere South of South Crofty.

Someone from CUSN went around the United Downs area to the households very recently, letting them know what they plan to do. That's a good sign. Keep the local communities up to speed and gets the truth out.
Any idea why the tin price was off sharply today?

No, just info.

information relating to IP .......

Note 23 to PHE's 2019 accounts re Related parties:-
Engsolve Limited, an engineering solutions company, is a related party due to a Director’s family member being part of its key management personnel. Engsolve provided engineering services to the Company during the year amounting to £239,137(2018: £361,187). Amounts outstanding at year end for services provided and included in these accounts amounted to £26,449(2018: £6,614).
and from ENGsolve's website:-

Engsolve completed the Conceptual Design and Basic Engineering Design of a commercial unit to process 25 Tonnes Per Day of waste. The conceptual phase included the development of a Heat & Mass Balance, Process Flow Diagrams, equipment sizing calculations, process equipment datasheets, equipment list and a plot plan. During the basic engineering phase the process was further defined with the production of Piping and Instrument Diagrams, process line sizing, Material take-off’s, Electrical single line diagrams, utility flow diagrams. Equipment vendors were also engaged to allow the production of CAPEX and OPEX reports.

Anyone know the family connection? It appears it may be through Pauline MacCarthy/ David Ryan

Aldebarn 12.26
Unfortunately it is way out of date, but the last set of published annual accounts stated:-
"As at 31 December 2019 and 2018, the share options and warrants in issue are not considered to have any dilutive effect in accordance with IAS 33."
Quite a bit has happened in the 14 months since, but at least that provides a start point. Over to you to trawl through the company announcements since that date. Pay particular attention to payments in shares or warrants made to bankers /brokers at times of placings etc.

JMHY 12.41
From the announcement

"In particular, Toyota’s experience with fuel cell development led to the company being able to eliminate the humidifier, instead circulating water generated during power generation through the FC stack."

I seem to remember that was a feature of Intelligent Energy's technology. ............... I hope IE are receiving an appropriate license fee from Toyota.

More relevant to Redmoor, but CUSN directors have huge experience as their CVs demonstrate.

https://cornishmetals.com/corporate/team/directors/

DVHarrison Today 08:19
A board like that at Cornish Metals Inc? Logic in trying to work together - savings in a number of different cost areas, perhaps processing, marketing, appeals to Cornwall Council/Government.

Lupidog Today 08:14
Why not have a 1 for 4 rights issue at a 20% discount to the current share price? That would raise £2m ($2.8m) before costs.
That way LTH's etc would not be diluted by a placing to flippers. It would probably add huge value, as at present the market appears to be assuming the value of the resources will not be realised. Raising the money would not only remove the discount for that assumption, but it would enable the upside from the resource to come to shareholders too. Win win.

Starts about 5.45 in ANZ view on the copper price.

https://www.bloomberg.com/news/videos/2021-02-24/copper-could-hit-record-highs-in-short-to-medium-term-anz-s-hynes-says-video

SML put out an RNS this morning. Of interest to CUSN investors will be the geared impact of the increase in the copper price on one of SML's investments, LCCM.
At acquisition March 2018, the
Pre-Tax NPV @ 8% of their investment was US $9.9m (copper price $3 per lb)
by 9 Nov 20that had risen to US$ 26.7m (copper price $3 per lb)
and now at current CU prices US$ 42.9m (copper price $4 per lb)

So a rise in the copper price of 1/3rd has been accompanied by a rise in the project value of over 60% despite a rise in the AUS$ value from 70US cents to 79 US cents.
So the values of the resources in CUSN's portfiolio, particularly South Crofty and United Downs are likely to have also risen far more than the recent rise in the price of tin and copper. Good news

Presumably the bet itself doesnt affect the share price , but the spread betting company covering the position would affect it.

PLUS500 has a lot of cash on its balance sheet - a good position to be in .........

https://www.telegraph.co.uk/business/2021/02/26/fed-has-lost-control-bond-markets-europe-victim/

https://www.telegraph.co.uk/investing/shares/profit-electric-vehicles-without-buying-big-brands/

https://www.hydrogenfuelnews.com/clean-hydrogen-partnership/8543327/?mc_cid=2027c11270&mc_eid=f060cd91ec

https://bdaily.co.uk/articles/2021/02/26/billingham-to-become-home-to-uks-first-sustainable-waste-to-energy-plant

Commodities (tin, copper) up again today.