Member Info for Valuation-it-is

48cents = 27.8178p

Lunch time tomorrow if not before, may be interesting.

OGTG Welcome

A good place to start is the company's own investor presentation.
https://cornishmetals.com/site/assets/files/4930/202110-cusn_corp__pres__web.pdf

Following on from that, it would be a good idea to do a sum of the parts valuation of the following 3 items
1- South Crofty - Use the Preliminary economic analysis and update it for resources expansion and to current price levels for tin
https://cornishmetals.com/site/assets/files/4962/2017-03-31-scrofty-pea-c84ol6.pdf
2-United Downs - company's recently published resource statement and commentary from this board re its valuation
3- Other a) Income/value in relationship with Cornish Lithium
b) Potential from rest of 30,000+ acre mineral rights area.

I hope that is not a daunting prospect - good luck Vii

https://thefifthskill.com/rio-tintos-lithium-mine-plan-electrifies-serbia/

I hope you have a happy time, close to those who matter to you. It has been a good year on this board, and for those invested in CUSN. I hope we can continue to swap notes, views and tips, repeating the experience next year. Fingers crossed, RW will get the finance organised and 2022 will be transformative for the company, its employees and Cornwall. All the best, Vii

https://www.telegraph.co.uk/business/2021/12/23/china-tightens-grip-rare-earths/

Copper Lithium and Tin next?

ivans
I don't get your re-assurance. Instead of debt funding - i.e. interest costs paid out of cash flow - SML is going to have to give away part of its LCCM asset to outsiders in exchange for those outsiders providing the finance. For example if LCCM is on the books at $Xm, and has to raise another $Xm, we are going to lose around half of one of our key assets.

IF the financing at the LCCM level is successful, then 50% of it will probably be worth more than it is now, but that is small consolation to me, as it is still an IF.
What has an unpleasant smell about this, is that the announcement is just before Christmas when investor eyes are mostly elsewhere.

First Peru, now Chile........................

Key extract from article:-
"Chile also boasts the world’s biggest reserves of copper and lithium, two of the minerals that are set to power the shift to green energy. The election of the left-wing leader who holds such contempt against mining companies has fueled fears of a disruption to the West’s copper supplies - a metal vital to growth."

https://www.telegraph.co.uk/business/2021/12/22/chiles-new-left-wing-leader-fuels-fears-disruption-global-copper/

Its good news to see OM taking up his options and increasing his holding. A vote of confidence from a key member of management.
It is also interesting to see the share price move up today/yesterday despite the exercise of warrants and options. Which also suggests the parties involved are mostly holding rather than "cashing in their chips"

Copper1 Here's a rundown!
The Cornish Metals Pre IPO presentation states:-
----------------------------------------------------------
Lithium exposure through Cornish Lithium
Cornish Lithium has the right to explore Cornish Metals’ mineral right areas for lithium-in-brine & geothermal energy. Cornish Metals has a 25% free carried interest on the first project advanced to completion of a Bankable Feasibility Study within its mineral right areas, and a 10% free carried interest on all subsequent projects advanced to completion of a Bankable Feasibility Study.
Cornish Metals will receive a 2% Gross Revenue Royalty on all metals produced from brines or geothermal energy produced from within its mineral right areas.
From January 2017, Cornish Metals benefits from annual cash / share issuances from Cornish Lithium of US$50K per year in years 1-5, US$100K per year in years 5 –10, US$500K per year from year 10, and US$1,000K per year from year 15.
Refer to Company news release dated January 19, 2017 for further info.
----------------------------------------------------------------------------------
Cornish Metals’ mineral right areas include South Crofty and United Downs - ++ a total of over 15,000 hectares (over 30,000acres) Not included are Cornish Lithium's activities at Trelavour ( Lithium in rock project) which is on Lord Falmouth's estate. So CUSN may benefit from a free carried interest at UD ++ but not Trelavour.

MO Interesting post thx.
From what you have written it sounds as if the Chinese will need to come back into the market to buy more resources.
It will be interesting to see what happens in Germany.

https://www.telegraph.co.uk/business/2021/12/21/china-claims-victory-battle-british-lithium-miner/

MO - Thx Will take a look.

MO

I had a chat with D Lindfield Chmn of CL ltd. and asked why CL is concentrating on rock rather than brine and was told that it isnt. He said they are trying to progress both with maximum effort. In earlier communications I was told that Trelavour will come on stream commercially first, but that now seems to be a result of events rather than CL's aim or endeavours.

What has been updated?
I am still seeing:-
"[The Company/HUI] is currently contemplating an initial public offering of its shares which, if it proceeds, would lead to the publication of a prospectus or admission document according to the requirements of the relevant investment exchange and, at that time, the communication of an offer or invitations to participate.
If you would like to register your possible interest in receiving information at that time, please contact our brokers Novum Securities: Mr Jon Bellis JBelliss@novumsecurities.com"

Pawgee

Interesting to see on figure 1 on page three of the document you linked, shows not just the Trelavour area as having lithium occurences, but also the Godolphon- Tregonning area - Which is in the Cornish Tin Ltd mineral rights area. My understanding is that Cornish Tin have got the rights to Lithium in brine or otherwise in their area.

CK - Sensors....
I understand there are two sets of sensors, One detects gravitational differences and the second magnetic differences. Whether one is good for Lithium detection and the other not, I have no idea.

CK "Who is paying the Piper?"
It seems BellGeo are funding it themselves, hoping to sell to a number of companies. I do not think there is one company that has taken a lead -customer role. Nor does a Government agency appear to have funded it either.
Costing? 14 days at 5hours a day - flying time is around 70 hours for a twin engined aeroplane - say £2000 per hour with several crew members - pilot and a couple of surveyors. £140k. Then there is analysis work, marketing and a profit margin.
I would estimate BellGeo is looking to bill £300k-£400k.
Possible customers? CUSN, SML, Cornish Lithium,British Lithium, Cornish Tin, First Tin.
I am surprised they are not flying over the St Austell area, so not taking in Trelavour or British Lithium's hard rock site. Mostly the Central mining district.
They must be confident of coming up with data of considerable value to their customers to make a speculative venture like this. They have surveyed in other areas of the world, so they will have a good idea of the information that they are capable of providing. Presumably the information is going to provide the customers with potentially huge cost savings e.g. tunnelling in the right place, and potentially huge extra revenue if new geological structures are found. If my understanding is correct they can assess the geology down 4 km from surface. So a lot of unexplored areas will be subject to survey.
BellGeo have the aeroplane and staff anyway, so perhaps they are just considering the marginal extra cost. What comes up on the BellGeo website could be transformative for Cornish Mining.

Roadrunnr
One also wonders if they have bought the right kit. Haven't the designs been modified or enlarged over the last 6 months?

Directors pay should be commensurate with work, skill and size of company. On that basis perhaps a few salary cuts are due.
Make sure you can vote when the next AGM comes around. You can do this even if the shares are held by a nominee in an ISA.
Just contact your provider to arrange it.