Business
INCREASE OF LAND OWNERSHIP AT SOUTH CROFTY
INCREASE OF LAND OWNERSHIP AT SOUTH CROFTY.
About this update from Cornish Metals Plc
[{"type":"text","content":"\n\n\n \nCORNISH METALS INCREASES LAND OWNERSHIP AT SOUTH CROFTY TIN PROJECT\n \nVancouver, April 1, 2025\nCornish 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, is pleased to announce that it has purchased approximately 4.5 acres of land from Cornwall Council. This land is immediately adjacent to existing surface land owned by Cornish Metals and provides direct access to the main road at Dundance Lane from where a new entrance to the mine site is planned and where a new mine office, stores and workshop will be located. This acquisition increased the total land area at South Crofty owned by the Company to approximately 32.5 acres.\n\nFigure 1: Aerial view of South Crofty's existing surface land and the property acquired.\nAs at March 31, 2025 the Company's cash position was £47.9 million (equivalent to C$89 million).\nABOUT CORNISH METALS\nCornish 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:\n· 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;\n· is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure;\n· has a 2024 Preliminary Economic Assessment that validates the Project's potential (see news release dated April 30, 2024 and the Technical Report entitled \"South Crofty PEA\"):\no US$201 million after-tax NPV8% and 29.8% IRR\no 3-year after-tax payback\no 4,700 tonnes average annual tin production in years two through six\no Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin\no Total after-tax cash flow of US$626 million from start of production\n· 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. ...