Cornish Metals Inc: Strategic Investment and Proposed Fundraising of a Minimum of £56 Million

Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) has announced a strategic investment and proposed fundraising of a minimum of £56 million, marking a significant milestone in the company's growth and the advancement of its South Crofty tin project in Cornwall, United Kingdom. The investment and fundraising will enable Cornish Metals to accelerate the development of the South Crofty project and secure its future as a significant tin producer in Europe and North America.



The strategic investment of £28.75 million by the National Wealth Fund Limited (NWF), a company wholly-owned by HM Treasury, and the proposed fundraising of a minimum of £56 million will provide Cornish Metals with the necessary financial resources to advance the South Crofty project. The investment by NWF and the proposed fundraising will also bring strategic partnerships that can provide valuable insights, expertise, and connections in the mining and investment sectors, enhancing Cornish Metals' growth prospects and market reputation.

The demand for tin is primarily driven by its critical role in various technological applications, including electronics, batteries, robotics, renewable power, 5G, and cloud-based data storage. According to Cornish Metals, tin demand is projected to grow by approximately 30% in the next decade, highlighting the metal's importance in the energy transition and technology sector. The South Crofty project is well-positioned to capitalize on these trends due to its high-grade tin resource, existing infrastructure, fully permitted status, strong local and government support, and potential for additional mineralisation.

The proposed fundraising will be used to complete a feasibility study, conduct initial field work on other high-priority exploration targets, and for general working capital purposes. With the successful completion of the fundraising, Cornish Metals will have the necessary financial resources to advance the South Crofty project, potentially leading to the restart of tin production in Cornwall. This will not only secure the company's future as a significant tin producer in Europe and North America but also contribute to the local and UK economy, creating up to 1,000 direct and indirect jobs. Additionally, the project has the potential to make a significant contribution to the drive towards net zero by providing responsibly sourced tin for the energy transition.

In conclusion, the strategic investment by NWF and the proposed fundraising of a minimum of £56 million by Cornish Metals Inc. is a significant step towards advancing the South Crofty project and securing its future as a significant tin producer in Europe and North America. The investment and fundraising will provide the company with the necessary financial resources to complete a feasibility study, conduct initial field work on other high-priority exploration targets, and for general working capital purposes. With the successful completion of the fundraising, Cornish Metals will be well-positioned to capitalize on the growing demand for tin in various technological applications and the energy transition, contributing to the local and UK economy and the drive towards net zero.