Cornish Metals Inc. (
TSX-V/AIM:
CUSN) (“Cornish Metals” or the “Company”), a mineral
exploration and development company focused on tin / copper
projects in Cornwall, United Kingdom, is pleased to announce that
Vision Blue Resources has nominated Mr. Tony Trahar as its
representative to the Board of Directors of the Company.
Mr. Trahar has had a distinguished 40 year
career in the mining, natural resources and industrial sectors.
From 2000 to 2007 he was CEO of Anglo American Plc, one of the
world’s largest mining groups, and was also a director of Anglo
Gold, Anglo Platinum and De Beers. During his tenure at Anglo
American, Tony oversaw a significant period of growth, delivering a
35% return on equity and returning US$10.5 billion (“bn”) to
shareholders while overseeing US$15bn of strategic acquisitions as
well as US$11bn of disposals. In addition, he negotiated and
implemented the US$19bn ‘take private’ of De Beers diamond group
with the Oppenheimer family and the Government of Botswana. Tony is
currently a special adviser to Vision Blue Resources.
From 1985–2000, he was Chief Executive, and then
Chairman of Mondi Ltd (now listed in London as Mondi Plc), a
multinational forestry, pulp, paper and packaging group. Since
leaving Anglo American he has also held a number of senior advisory
roles for Barclays Natural Resource Investments (2007-2013) and
Macquarie Bank (2014–2016). Tony holds a B.Comm degree and is a
Chartered Accountant.
Richard Williams, CEO of Cornish Metals,
stated: “We are very pleased to welcome Mr. Trahar to the
Board of Cornish Metals. Tony’s experience in all aspects of the
mining industry will be a tremendous asset to Cornish Metals as we
advance South Crofty and assess additional value adding
opportunities that may be presented to us.”
Mr. Trahar commented: “I am
delighted to be joining the board of Cornish Metals and to be part
of the project to bring South Crofty back into production. The
South Crofty project is financially and environmentally sound, will
add a new secure source of supply to the western world's needs of
energy metals and will also provide significant employment and
economic growth in the Camborne – Pool – Redruth area of
Cornwall".
Regulatory disclosures
In accordance with Schedule 2(g) of the AIM Rules, Anthony John
Trahar (aged 73) holds, or has held in the past five years, the
following directorships and partnerships:
Current
directorships/partnerships |
Past
directorships/partnerships |
Reflex Vehicle Hire Limited |
Laneglade Projects Limited |
Eviola S.A. |
CWD UK Projects Limited |
Bartlett Resources LLP |
Binding Solutions Ltd |
Oxhill Homes Ltd. |
|
Mr Trahar currently holds 1,222,222 common
shares in the Company.
There is no further information to be disclosed
in respect of the above appointment pursuant to Rule 17 and
Schedule 2 paragraph (g) of the AIM Rules for Companies.
ABOUT CORNISH METALS
Cornish Metals completed the acquisition of the
South Crofty tin and United Downs copper / tin projects, plus
additional mineral rights located in Cornwall, UK, in July 2016
(see Company news release dated July 12, 2016). The additional
mineral rights cover an area of approximately 15,000 hectares and
are distributed throughout Cornwall. Some of these mineral rights
cover old mines that were historically worked for copper, tin,
zinc, and tungsten.
The South Crofty project covers the former
producing South Crofty tin mine located beneath the towns of Pool
and Camborne, Cornwall. The South Crofty mine closed in 1998
following over 400 years of continuous production. The Company has
undertaken extensive pilot-scale water treatment trials and
successfully applied for and received the necessary environmental
permits to abstract, treat and discharge mine water in order to
dewater the mine. Planning permissions for the operation of the
mine and re-development of the surface facilities have been secured
and construction of the water treatment plant foundations
commenced. The dewatering pumps, variable speed drives and new
high-voltage power supply have been delivered to site.
For an updated Mineral Resource Estimate in
respect of the South Crofty Mine, please see the Company’s
technical report entitled “South Crofty Tin Project Mineral
Resource Update” dated effective June 7, 2021, a summary of certain
portions of which is set out below:
South Crofty Summary Mineral Resource
Estimate |
Area |
Classification |
Mass (‘000 tonnes) |
Grade |
Contained Tin / Tin Equivalent (‘000 tonnes) |
Lower Mine |
Indicated |
2,084 |
1.59% Sn |
33 |
Inferred |
1,937 |
1.67% Sn |
32 |
|
Upper Mine |
Indicated |
277 |
1.01% SnEq |
3 |
Inferred |
493 |
0.93% SnEq |
5 |
All technical information contained within this
news release has been reviewed and approved for disclosure by Owen
Mihalop, (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng), the Chief
Operating Officer for the Company, and a “qualified person” as
defined in NI 43-101.
ABOUT VISION BLUE RESOURCES
VBR aims to create lasting value for all
stakeholders by accelerating the supply of the commodities
necessary to facilitate the green energy transition. The growth in
demand for these metals is unprecedented, driven by regulation and
social change, and is taking place against a backdrop of limited
supply due to years of underinvestment in the sector. VBR aims to
unlock value in its investments by providing transformational
investment capital and its financial, technical, ESG, construction
and operating experience in the mining and metals sector, ensuring
its investments are advanced into production and beyond.
For additional information please contact:
In North America:
Irene Dorsman at (604) 200 6664 or by e-mail at
irene@cornishmetals.com
In UK:
SP Angel Corporate Finance LLP (Nominated Adviser & Joint
Broker) |
Tel: |
+44 203 470 0470 |
|
Richard Morrison |
|
|
Charlie Bouverat |
|
|
Grant Barker |
|
|
|
|
Hannam & Partners(Joint
Broker) |
Tel: |
+44 207 907 8500 |
|
Matthew Hasson |
|
|
Andrew Chubb |
|
|
Ernest Bell |
|
|
|
|
BlytheRay (Financial PR/IR-London) |
Tel: |
+44 207 138 3204 |
|
Tim Blythe |
tim.blythe@blytheray.com |
|
Megan Ray |
megan.ray@blytheray.com |
For Vision Blue ResourcesAura Financial |
Tel: |
+44 207 321 0000+44 7834 368 299+44 7841 748 911 |
|
Michael Oke |
info@vision-blue.com |
|
Andy Mills |
|
ON BEHALF OF THE BOARD OF
DIRECTORS
“Richard D. Williams”Richard D. Williams,
P.Geo
Market Abuse Regulation
disclosure
The information contained within this
announcement is deemed by the Company to constitute inside
information pursuant to Article 7 of EU Regulation 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended ("MAR") encompassing information
relating to the Offering described above, and is disclosed in
accordance with the Company's obligations under Article 17 of MAR.
In addition, market soundings (as defined in MAR) were taken in
respect of the UK Placing with the result that certain persons
became aware of inside information (as defined in MAR), as
permitted by MAR. This inside information is set out in this
Announcement. Therefore, upon publication of this announcement,
those persons that received such inside information in a market
sounding are no longer in possession of such inside information
relating to the Company and its securities.
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.
Caution regarding forward looking
statements
This news release contains "forward-looking
statements". These forward-looking statements are statements
regarding the Company's intentions, beliefs or current expectations
concerning, among other things, the Company's projections, outlook,
forecast, estimates, plans, potential results of operations or
upcoming work programs, financial condition, prospects, growth,
strategies and the industry in which the Company operates, the
potential benefits to the Company, to the economy and to the
environment in respect of the development of the South Crofty mine,
and surrounding exploration potential.
Forward-looking statements, while based on
management's best estimates and assumptions at the time such
statements are made, are subject to risks and uncertainties that
may cause actual results to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risk of non-compliance with planning and
environmental permissions / licences, risks related to general
economic and market conditions; risks related to the COVID-19
global pandemic and any variants of COVID-19 which may arise; risks
related to the availability of financing; the timing and content of
upcoming work programs; actual results of proposed exploration
activities; possible variations in mineral resources or grade;
risks associated with the unplanned departure of key personnel,
environmental risks, failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes, title disputes,
claims and limitations on insurance coverage and other risks of the
mining industry; changes in national and local government
regulation of mining operations, tax rules and regulations.
Although Cornish Metals has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Cornish Metals undertakes no obligation or
responsibility to update forward-looking statements, except as
required by law.
Cornish Metals (TSXV:CUSN)
Historical Stock Chart
From Apr 2024 to May 2024
Cornish Metals (TSXV:CUSN)
Historical Stock Chart
From May 2023 to May 2024