CORNISH METALS INC. held its 2024 Annual General and Special Meeting, where all resolutions were passed. The company reported that a total of 251,794,012 common shares were voted, representing approximately 47.04% of the issued and outstanding common shares. Additionally, a post-AGM Corporate Update webinar was hosted by the company.
The company is focused on advancing the South Crofty high-grade, underground tin project in Cornwall, United Kingdom. The project has Planning Permission for underground mining, to construct new processing facilities, and an Environmental Permit to dewater the mine. The 2024 Preliminary Economic Assessment for South Crofty validates the project's potential, with a US$201 million after-tax NPV8% and 29.8% IRR, among other positive indicators.
Tin, a Critical Mineral, is a key component in electronic and electrical infrastructure, making it crucial for the energy transition and technology growth. South Crofty benefits from strong local community, regional, and national government support and could generate up to 320 direct jobs. The 2024 Preliminary Economic Assessment is preliminary in nature and includes inferred mineral resources.
The news release has been reviewed and approved by the company's Chief Operating Officer, Mr. Owen Mihalop, who is the designated Qualified Person under NI 43-101 and a Competent Person as defined under the JORC Code (2012).
For additional information, investors can engage with the company directly at their investor hub. The release also includes contact information for further inquiries.
The company emphasized caution regarding forward-looking statements, and the release concludes with regulatory and contact information.
This comprehensive summary covers the key details from the news, providing an overview of the company's recent activities and project updates.