Member Info for Valuation-it-is

Cornish 14.58 Understood -many thanks
I turned up the results of the Cornish Lithium test drills (UD area) to compare with the Redmoor figures. Tried cut and paste but no good, so here is a reference if you are interested in the comparison.
On page 31
https://cornishmetals.com/site/assets/files/5388/cornish_metals_inc_-_admission_document_final_10-02-21.pdf

"flipped my 500k out from tsx to aim and have made a net 18% saving, looks like all the buyers on aim are selling here and buying cheaper on aim , I am based in Asia and makes no difference what exchange I hold on as pay zero tax anywhere ... "

The Redmoor valuations were done at May 2019 prices..... and an 8% discount rate......

Thanks for the info Will try to find yesterday's interview. I guess it is mentioned on the BB somewhere.
Meanwhile over at CUSN, the IPO seller appear to be on the wane as when Canada opened the MMs stopped trying to disguise Buys as sells. Buy price up 10p-->10.5.

Shear Class 12.10pm Spot on comment!

Blasted through - 14p here we come.

Now we are off. MMs couldn't take the pressure from Canada as well.

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
The backdrop
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.mining.com/cornish-lithium-speeds-up-hard-rock-project-development/
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

Lupi Today 12:50
Looked a the link - thanks.
How does Redmoor overcome the low percentage of tin etc in the ore? Does it have a different processing technique?

Just posted a series of links for new investors on the CUSN website if you are interested.
It was interesting to look at the PEA's sensitivity analysis for South Crofty and plug in the current Sn price .Result? A huge uplift in IRR and NPV. I guess the same impact would be seen for Redmoor. Is there a PEA for Redmoor ?
I wonder if SML and CUSN should get together to organise a jv for smelting.................

I will post these links every so often for people who are new to CUSN, to make research easier.
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 page
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
The backdrop
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

Cornish Lithium exposure
https://www.cornishlithium.com/
https://www.mining.com/cornish-lithium-speeds-up-hard-rock-project-development/
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

SC NPV around £200m
UD NPV £XXXm
Gwinear NPV £XXXm
South of SC £XXm
Carry in CL £XXm
Cash in £7.0m net of raise cost

Market cap £14m No brainer!

ShearClass 12.10 You are right. How to make buys look like sells- - move the spread for a while but deal inside. Gives automatic red and sell coding. Lets face it there are not hundreds of small UK shareholders in this stock, just a few placees, an institution and the broker/bank behind the placing. If they sell, it will be in big lumps recorded after hours. Bet what we are seeing is buys shown as sells. Clever , but will end any time soon. I wonder how short they are?

Lupi, Why not quaff the multi award winning Camel Valley sparkling white? Better than champagne......and from Cornwall
https://www.camelvalley.com/
Perhaps save it up for 1p?

Good question. The good news is that South Crofty and United Down already have useful mine shafts, and declines. Permissions are in place for SC, pumping out is possible with de-watering permission given. A lot of kit is already there.
So cost of extraction from here on in will be low. In the presentation* page 17, it states LoM average Sn eq. cash cost: $3.4/lb ($7,496) South Crofty is positioned in the lowest quartile of Sn cash cost curve. South Crofty is one of the highest grade tin projects in the world.......
*https://cornishmetals.com/site/assets/files/4930/2020-01-25_cornish_metals_presentation_sm.pdf

My gut feeling is funding this will be easy.

The PEA stated the NPV of South Crofty (assuming prices of metals as follows, US$10.00/lb Sn, US$2.65/lb Cu and US$0.90/lb Zn) was €130m. Given the tin price has rocketed to €12.7 (cash price yesterday close), Copper is up to $3.87 and Zinc $1.29 up 27%, 46% and 44% respectively, the NPV of South Crofty will have risen very sharply and its IRR is probably North of 40%. CUSN have an approx 75% exposure, so a value somewhere around $150m to shareholders.
And the thing is, South Crofty is not even the most promising mine in the portfolio. United Downs is. That is why CUSN are doing UD first, then Gwinear........ You can see where this is going.

Squeeze coming in UK when Canadian market opens.

Canadian have been trading this share for ages . It has just appeared in London with a new issue.
The Canadian closing price was C$22.5 equivalent to 13.1p . Canadians can sell their stock in Canada at equivalent of 13.1p and buy in the UK at 10p. For a short period they cannot sell UK shares in Canada. But that will change. So UK shares are cheap vs Canadian shares. This situation will probably only continue as long as there is an overhang from the IPO.

Filed 2021-02-16 21:02
Tx date 2021-02-16 $CUSN
Cornish Metals Inc. Thomas, David Grenville
4 - Director of Issuer
Direct Ownership

Common Shares
16 - Acquisition or disposition under a prospectus exemption $24,000
+200,000 vol
$0.12 each 4,389,503
Filed 2021-02-16 20:15
Tx date 2021-02-16 $CUSN
Cornish Metals Inc. Williams, Richard David
4 - Director of Issuer
Direct Ownership

Common Shares
16 - Acquisition or disposition under a prospectus exemption $24,000
+200,000 vol
$0.12 each 925,000
Filed 2021-02-16 20:14
Tx date 2021-02-16 $CUSN
Cornish Metals Inc. Njegovan, Donald Robert
4 - Director of Issuer
Direct Ownership

Common Shares
16 - Acquisition or disposition under a prospectus exemption $24,000
+200,000 vol
$0.12 each 975,000

"At session’s close, the cash price for the metal was US$29,625/t, up US$4,280 (or 16.8%), while the three-month price ended at US$24,385/t, a gain of US$735 (up 3.1%).That is a backwardation of US$5,420/t, a dramatic sign that the supply-demand situation is under enormous strain as buyers tie up physical metal for immediate delivery. It is the greatest gap between cash and three-month prices in 30 years."