REG - Cornish Metals Inc. - CHANGE OF REGISTERED OFFICE

Cornish MetalsAnnouncement

05/02/2025 18:00

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RNS Number : 0811W  Cornish Metals Inc.  05 February 2025

 

CHANGE OF REGISTERED OFFICE

Vancouver, February 05, 2025

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a
mineral exploration and development company focused on advancing its 100%
owned and permitted South Crofty tin project in Cornwall, United Kingdom,
announces that it has moved its registered office to 1056 - 409 Granville
Street, Vancouver, British Columbia, V6C 1T2, Canada with effect from today's
date.

For additional information please contact:

 

 Cornish Metals                                                         Fawzi Hanano       investors@cornishmetals.com (mailto:investors@cornishmetals.com)

                                                                        Irene Dorsman      info@cornishmetals.com (mailto:info@cornishmetals.com)
                                                                                           Tel: +1 (604) 200 6664

 SP Angel Corporate Finance LLP                                         Richard Morrison   Tel: +44 203 470 0470

 (Nominated Adviser & Joint Broker)                                     Charlie Bouverat

                                                                        Grant Barker

 Cavendish Capital Markets Limited                                      Derrick Lee        Tel: +44 131 220 6939

 (Joint Broker)                                                         Neil McDonald

 Hannam & Partners                                                      Matthew Hasson     cornish@hannam.partners (mailto:cornish@hannam.partners)

 (Financial Adviser)                                                    Andrew Chubb       Tel: +44 207 907 8500

                                                                        Jay Ashfield

 BlytheRay                                                              Tim Blythe         cornishmetals@blytheray.com (mailto:cornishmetals@blytheray.com)

 (Financial PR)                                                         Megan Ray          Tel: +44 207 138 3204

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

ABOUT CORNISH METALS

Cornish Metals is a dual-listed mineral exploration and development company
(AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards
production. South Crofty:

·    Is a historical, high-grade, underground tin mine located in
Cornwall, United Kingdom and benefits from existing mine infrastructure
including multiple shafts that can be used for future operations;

·    Is fully permitted to commence underground mining (valid to 2071),
construct new processing facilities and for all necessary site infrastructure;

·    Has a 2024 Preliminary Economic Assessment that validates the
Project's potential (see news release dated April 30, 2024
(https://investors.cornishmetals.com/announcements/6315981) and the Technical
Report entitled "South Crofty PEA
(https://cornishmetals.com/site/assets/files/4962/0423037_south_crofty_pea_-_24_may_2024_sedar.pdf)
"):

o  US$201 million after-tax NPV(8%) and 29.8% IRR

o  3-year after-tax payback

o  4,700 tonnes average annual tin production in years two through six

o  Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin

o  Total after-tax cash flow of US$626 million from start of production

·    Would be the only primary producer of tin in Europe or North America.
Tin is a Critical Mineral as defined by the UK, American, and Canadian
governments as it is used in almost all electronic devices and electrical
infrastructure. Approximately two-thirds of the tin mined today comes from
China, Myanmar and Indonesia;

·    Benefits from strong local community, regional and national
government support with a growing team of skilled people, local to Cornwall,
and could generate up to 320 direct jobs.

The 2024 Preliminary Economic Assessment for South Crofty is preliminary in
nature and includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to them
that would enable them to be categorised as mineral reserves. There is no
certainty that the 2024 Preliminary Economic Assessment will be realised.
Mineral resources that are not mineral reserves do not have demonstrated
economic viability.

 

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