Cornish Metals

Cornish Metals is an exploration and development company focused on advancing its wholly owned and permitted South Crofty high-grade, underground tin project, located in Cornwall, UK, towards commencement of production by mid-2028. South Crofty is expected to be a lowest quartile cost producer and highly cash generative with annual EBITDA averaging ~£70 million (~US$90m) and EBITDA margins in excess of 60% in the first five years of full production. Tin is a critical mineral that is essential for technology and the energy transition. South Crofty is a strategic asset in the UK and has the potential to become a domestic supplier of secure and responsible tin, reducing exposure to imports from Asia that controls close to 80% of refined tin supply. South Crofty is permitted and benefits from strong local community and regional and national government support.

Management Profile

Don Turvey, CEO and Director

Don is an experienced mining executive with more than 40 years of experience in the sector, including senior management roles in production, project execution, business development, and minerals resource management. Since 2008, Don has been CEO of private, ASX and AIM-listed mining companies where he has successfully funded and taken new projects and historic mines to production, as well as leading a number of M&A transactions. Prior to this, Don spent over 20 years at BHP Billiton, in roles including General Manager and Vice President Project Development where he headed up the project, geological, mineral resource and financial analyst teams.

Fawzi Hanano,Chief Development Officer

Fawzi is a finance professional with over 20 years of experience in the mining sector. Before joining Cornish Metals he was Head of Investor Relations at SolGold, a copper and gold developer. Fawzi’s experience also includes a dozen years in equity research where he covered global mining equities and commodities at a number of investment banks including Goldman Sachs and UBS. Fawzi started his mining sector career at Rio Tinto.

 

What are your key goals for the next 3, 6 and 12 months?

3 Months:

• Complete debt financing
• Advance basic and detailed project engineering studies
• Progress early project works

6 Months:

• Complete project financing
• Declare final investment decision

12 Months:

Commence and progress project construction

What do you think makes your company such a compelling investment?

South Crofty is a high grade and high value project that is permitted and with existing infrastructure and with significant potential to extend mine life and production throughput. Tin is the metal most impacted by new technology and is designated a critical mineral by UK, US and Canada. Tin is essential in all electronics and benefits from growing demand for technology metals amid a constrained supply chain. South Crofty is an opportunity for domestic supply of in to the UK and Europe.