Member Info for Valuation-it-is

Troajan A few newbie questions for you.............. Would be grateful for your help.
Do you know if the works on the second dam at Parilla are complete now? And what has the rainfall been like in January there?
Re your comments about the surge in tin prices, has WRES sold its production forward i.e. has it already sold its likely 2022 production/fixed the price, or is it going to benefit from the higher tin prices? Does WRES sell concentrate or does it pay for processing of concentrate and then sell tin metal?

Fira
CL states that it is not favouring one lithium project over the other, but trying to press on as fast as possible with both types of project. They do expect rock to be in commercial production before brine however.
Heat energy power? Processing the mica is not going to be energy intensive spodumene type processing, but will use the lepidico method which I think is far less demanding for energy. Take a look at CL's website.

CUSN The question over the smelter is up in the air. It might make economic sense to have one in the UK to process all production from the SW, and from the Iberian peninsula. Otherwise it is going to be necessary to ship concentrate to Asia.
As you observe, we have several years to sort that out. Cornwall does have a surplus of green power, which it is not able to export to the rest of the country. (Cable capacity restricted) . So big payments are made to keep wind turbines switched off. Let's hope someone can put 2 and 2 together..................

ESG ? see https://cornishlithium.com/sustainability/
and
https://cornishmetals.com/site/assets/files/5385/cusn_-_environmental_policy_0321.pdf
2 points
CL Lithium from Brine= very small footprint on surface and possibly powered with geothermal
CUSN SC Waste to be disposed of underground, + water pumped out to have been treated to higher standards than currently.

Date Time Location
22 January 2022 10:00am – 1:00pm Twelveheads Methodist Church Hall
27 January 2022 9:00am – 11:00am Bon Appetit Cafe
31 January 2022 1:00pm – 3:00pm Bon Appetit Cafe
02 February 2022 5:00pm – 8:00pm Crofthandy Village Hall

https://cornishlithium.com/company-announcements/cornish-lithium-commences-community-engagement-drop-in-sessions-about-its-proposed-research-borehole-at-twelveheads/

Worth a trip out!

News of the Coventry plant is within this article...............

https://www.autocar.co.uk/car-news/business-tech%2C-development-and-manufacturing/britishvolt-secures-%C2%A317-billion-funding-uk

Realistic indeed. I m not suggesting that CUSN or CL have entered into supply agreements, but clearly to have a second battery factory in the UK is better for both CUSN and CL than not to have such potential customers.
I agree that CUSN is several years off producing anything. The huge difference between the market cap of CUSN and the potential valuation of the net income from production, when and if it happens, also reflects that. But I do not expect the share price to just change on the day production starts. I expect the market cap to reflect the gradual change in the expected value i.e. the probability adjusted, net DCF. e.g. As the tin price moves up, it seems more likely that finance will be found and therefore the probability adjusted valuation will rise. As announcements are made about drilling, and the resource value becomes clearer and larger I would expect the mkt cap to rise. It may be a long time before production starts but that does not mean it will be a long time to wait for FURTHER share price performance.

https://www.lme.com/en/Metals/Non-ferrous/LME-Tin#Last+traded+prices

Swindon?

CUSN years away? Do you mean Cornish Lithium? If so, they are aiming for 2024/2025 and are trying to get both their hard rock and brine projects advanced as quickly as possible. CL flotation likely early Q2 this year.
If you mean CUSN the programme to feasibility stage for South Crofty and UD is shown on :-
https://cornishmetals.com/site/assets/files/4930/202110-cusn_corp__pres__web.pdf
and we are 6-9 months in to that programme now with more results to come through soon. I am expecting de-watering to take 12-18 months once started. The timing of the start will depend on when the financing for that is raised. Given the rise in the tin price, not only is financing becoming easier, but I think it may happen more quickly.

The components of a vertically integrated industrial sector are gradually coming together. Upstream we have the miners, gradually verifying the mineral sources - CUSN for tin and copper, and Cornish Lithium in which CUSN has various interests, for lithium. Next the UK will need the processing. But today, we can see where the end product will be going - into battery factories - the second of which has just been announced, and is reported on here:-
https://www.telegraph.co.uk/business/2022/01/21/britishvolt-wins-18bn-build-uk-gigafactory/

No longer is there a question over whether there will be UK demand for the metals. The pieces of the jigsaw are coming together. This will make it easier for Cornish Lithium, British Lithium and CUSN to raise capital. Momentum is building.

https://www.lme.com/en/Metals/Non-ferrous/LME-Tin#Last+traded+prices

https://petepanda.com/the-case-for-tin/

Kaaran
Catalysts?
Permitting news, followed by production preparations................

https://www.mining.com/web/china-hurt-most-by-indonesias-move-to-keep-nickel-at-home/?utm_source=Battery_Metals_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=china-hurt-most-by-indonesias-move-to-keep-nickel-at-home

The tin price appears to be responding to rumours in a hold up of export licences in Indonesia - the world's second largest tin producing country.
https://www.reuters.com/article/indonesia-tin/indonesia-icdx-yet-to-see-tin-export-permits-issued-pt-timah-says-no-delay-idUSKBN2JT16X

https://markets.businessinsider.com/commodities/tin-price?op=1

The market appears to be calling for more tin production capacity - and CUSN looks well placed to do so.

HF Would you like a set of links to sites useful to researching CUSN? I post them every so often. If you are a recent investor - you may not have seen the company's own presentation, from its website - which puts the investment case clearly. Here it is
https://cornishmetals.com/investors/presentations/

ATB

https://markets.businessinsider.com/commodities/tin-price?op=1

Thanks for posting this again. I missed it the first time around. It really gives an insight into how much is going on and the dramatic growth in revenues which are expected in the current year.
My concern about the danger of overtrading was alluded to by the CFO towards the end of the video, when he said the balance sheet was in good shape and that EQT would leverage the borrowing capabilities of its JV partners in the projects in which it invests.

Tatty99 I find it strange too. PHE is the holder/owner of the technology and HUI is marketing that technology to potential users.

Why then is Mitsubishi discussing the technology with HUI rather than PHE? The outcome of this discussion may show whether the relationship is parasitic or symbiotic. Let us hope the latter.