Cornish Metals Inc. has entered into a non-dilutive £7 million (US$9.1m) secured credit facility with its 25.95% shareholder Vision Blue Resources Ltd for the South Crofty tin project. DISCUSSIONS The facility, with a term until 31 March 2025 and carrying 15% interest per annum, will be used for general operating and corporate purposes. Chief executive […]
Tag: South Crofty tin mine – Cornwall
Cornish Metals grants 12.4m stock options
Cornish Metals Inc has granted 12.4 million incentive stock options, each at an exercise price of £0.085 (C$0.14) over common shares without par value, to its executive management and senior staff. The five-year options will vest over a three-year period, with one third of the options vesting at the end of each year, and expire […]
Cornish Metals drill proves ‘large scale’ tin target
Cornish Metals Inc said its 9,000m drilling programme of 14 holes had successfully validated “a new, large-scale, tin-bearing exploration target” of Wide Formation, in Carn Brea South. EXPLORATION The campaign began in September 2023 and today’s reported results are from the final eight holes. Mineralisation was traced over a 2,500m extent up to 800m down […]
Cornish Metals progresses South Crofty
Cornish Metals Inc has started the second phase of refurbishing the New Cook’s Kitchen shaft at South Crofty tin mine in Cornwall. DEWATERING Operations will include installation of the phase II work platform to enable faster replacement of old shaft timbers with new steel guides. In parallel, the Canadian company is maintaining the water level […]
Cornish Metals to sell Nickel King for C$8m
Cornish Metals Inc plans to sell its Canadian nickel-copper-cobalt properties for C$8 million in cash and shares to focus on the South Crofty tin project in Cornwall. EXPOSURE Nickel King and Opescal Lake, comprising 4,000 hectares in mining leases and mineral claims in the Northwest Territories, are located 135km northeast of Stony Rapids, Saskatchewan. The […]
Cornish Metals extends South Crofty acreage
Cornish Metals Inc has purchased 7.7 acres to accommodate future site works immediately next to surface infrastructure at its South Crofty tin project in Cornwall. NORTH WINDER The area, lying between New Cook’s Kitchen shaft and the existing surface land containing the water treatment plant, increases the Canadian company’s total holding to 28.5 acres (11.5ha). […]