Cornish Metals Inc. (TSX-V:CUSN, AIM:CUSN), is an Associate Company of Osisko, and building a portfolio of strategic metals assets in the United Kingdom and North America.
Cornish Metal’s near term strategy is to focus on exploration and delineation of the near-surface high grade copper and tin mineralization at the United Downs project in Cornwall, UK.
In addition to United Downs, the company benefits from ownership of the South Crofty tin project, one of the highest grade undeveloped tin resources globally. South Crofty has a long history of mining, with production commencing in 1592, and continuing up until 1998. The project has an active mine permit (Underground Permission) valid until 2071, Planning Permission to build a new process plant, and an Environmental Permit to dewater the mine.
Success at United Downs would be complemented by the option to build a new process plant at South Crofty which could serve as a central processing facility for projects within reasonable transport distance.
Copper, tin and lithium are fundamental to growth in the technology sector and the transition to a low carbon economy and are used in key fast growing technological applications including batteries, robotics, solar power, 5G and cloud storage. Both copper and tin have shown positive price increases through 2020 as investors anticipate strong investment into infrastructure as global economies recover from the COVID-19 pandemic. This price strength is projected to continue – for example, copper recently reached a 7-year high and is projected to have a supply deficit of 327,000 tonnes in 2022.
In addition, Cornish Metals believes demand for ethically sourced tin will continue to increase, especially as countries look to transition to carbon neutral economies where domestic supply chains become more important. The Company will continue to assess funding options to advance South Crofty in light of this trend.