Member Info for Valuation-it-is

-Is proving very popular. Registrations already exceed last years numbers.

Information from email address:-

info@cornishminingconference.co.uk

-Is proving very popular. Registrations already exceed last years numbers.

Information from email address:-

info@cornishminingconference.co.uk

Is proving very popular- registrations already exceed last years numbers.

Information from email address:-

info@cornishminingconference.co.uk

Is proving very popular registrations already exceed last years numbers.

Information from email address:-

info@cornishminingconference.co.uk

What are you hearing about the progress of the Department of Defense paper to Congress? i.e proposing restrictions of buying Chinese critical metals....... etc

MO

Very interesting find. How do you explain that change? An Australian company retreating from an arrangement with a US company.

Pawgee A very encouraging list! It is clearly a good idea not to have reliance on one major shareholder and CL have succeeded in that aim.

The ULEZ vote has got HMG thinking about changing their policies on energy matters, which may be of benefit to ANGS.

MO You have some interesting figures, clearly derived from following Li companies elsewhere - very valuable info.

I wonder why there is a big difference between what the company was saying 18 months ago and your figures?

Do you think CL is not taking the processing all the way to hydroxide ? Or perhaps the Lepidico process (for hard rock) requires far less plant ?

I think the brine side will be a lot less expensive per plant, but there may be a lot more of them.

Hopefully all will be revealed shortly.

Pawgee Just to avoid any misunderstanding and be clear, my last post was on CL not CUSN. I agree CUSN's management team is absolutely excellent.

Pawgee - Like you I think it is likely that AB was appointed for a reason to do with financing. He is one of the great and good in Cornwall with a family background in mining I believe, so that would be enough, but chances are debt finance may come into it too. Let us hope we do not end up with a Lansdowne-TUN type arrangement.

Pawgee

Given the sums involved to enable the next stage of development - the estimate was $240m just for capex 18 months ago, we can probably safely say that CL needs to raise $300m plus. part debt part equity Asking existing shareholders for even half of that would be unlikely, so outside funds are needed. I understand that major shareholder TechMet/ Menell has been helping and due diligence by new investors is being completed. I think you already noted that in a recent post. https://www.techmet.com/

Techmet already has a tin exposure see https://trinity-metals.com/

Pawgee

The first drill holes for lithium in brine were done at United Downs, which is in CUSN's mineral rights area and so is subject to the royalty agreement with CUSN. Subsequent drill holes at Twelveheads and Blackwater are on someone else's mineral rights areas - Lord Falmouth's -so would not benefit CUSN through royalties only through its shareholding in CL.

CL has 100+ sites for brine drilling in mind, so I guess some of those would benefit CUSN through royalties.

CL intends that its first lithium in brine drilling sites will also produce benefits from heat - so there will be at least two revenue streams, and perhaps more if by-products are extracted, but that is far more likely from the hard rock side where there will be significant contaminants/by products to extract.

It would be surprising if HMG - having given £500m? towards the construction did not object to lithium being sourced from China. A resilient UK source would be far preferable and just down the road from Bridgewater. Next we need to hear about the process plant intended to turn mica into lithium hydroxide/carbonate.

Lelelele

Which refiner to buy from? That may depend on the terms of the grant of £100's millions from HMG. HMG wants a resiliant UK based, mine to car industry. My guess is that will favour UK refiners.

Great points Hogsnipe. I wonder why HMG does not demand an equity stake for our money. It would be very interesting to see what condition HMG has set for the grant. It will be companies like ALK, British Lithium/Imerys, Cornish Lithium that will interest the battery plant owners.

LB Info you want is on pages 26 to 29 of the May presentation

https://cornishmetals.com/site/assets/files/4930/cusn_corporate_ppt_may_2023_comp.pdf

The big new buyer of Lithium has finally decided on setting up in Bridgewater. Its unlikely that it will all be satisfied by CL/BL-Imerys.

PRK1 Share price when fully operational?

That will depend hugely on the price of tin when mining re-starts. The preliminary economic assessment gives some very good ideas on that if you downloaded it from the company website. Too much to copy paste here.

Bear in mind since that was prepared the company has roughly doubled its indicated and inferred resources and made a major discover of more mineralisation. Set up costs too have risen, so a lot of adjustments are needed. See the page on sensitivity analysis.....................

Pawgee - Number of interesting thoughts there.

Options - I would think it is co-incidence. The TATA news was expected weeks ago but it went quiet for a while. The CUSN options advisors have probably been considering it for weeks too. My view is that at 18p management can buy at the same price as VBR did in the placing and will clearly be motivated to make the share price a multiple of the 18p option price. Not that they need motivation - they already are highly motivated to bring mining back to Cornwall.

Rules of origin. I heard on the radio this morning, that HMG were informed by TATA some time ago that they had chosen to locate in Spain. HMG have managed to change TATA's mind - with the help of a very large grant. So the rules of origin would have been equally applicable to any EU country I think.

The TATA announcemet will have made Menell's financing job a whole lot easier as there will obviously be a big demand for lithium just up the road (M5) or up the rail line, in perhaps 18 months time. Ditto for Imerys/BL. Possibly ALK will be boosted too.