Cornish Metals Inc. has announced the departure of Chief Executive Officer (CEO), Richard Williams, effective March 31, 2024, with Ken Armstrong stepping in as Interim CEO and Patrick Anderson becoming the Executive Chairman during the transition. The company expressed gratitude for Williams' contributions and outlined its focus on advancing the South Crofty high-grade, underground tin Project through to a construction decision, as well as exploring its additional mineral rights in Cornwall, United Kingdom.
The South Crofty Project, a historical, high-grade, underground tin mine, has Planning Permission for underground mining, to construct new processing facilities, and an Environmental Permit to dewater the mine. It possesses the 4th highest grade tin Mineral Resource globally and benefits from existing mine infrastructure, including multiple shafts that can be used for future operations. The Project could generate 250-300 direct jobs and has strong local community and government support.
The company highlighted the completion of an updated Mineral Resource in September 2023, showing a 39% increase in tonnes and a 32% increase in contained tin in the Indicated category for the Lower Mine. The Mineral Resource Estimate for South Crofty is available in a report titled the South Crofty Tin Project - Mineral Resource Update NI 43-101 Technical Report.
Cornish Metals emphasized the critical nature of tin as a mineral, its role in electronic and electrical infrastructure, and the importance of responsible sourcing of critical minerals and security of supply in the energy transition and technology growth. The company also provided technical information, compiled by Mr. Owen Mihalop, Chief Operating Officer, who has reviewed and takes responsibility for the data and geological interpretation.
Overall, the company is undergoing a change in executive management, with a focus on advancing the South Crofty Project and exploring additional mineral rights in Cornwall, United Kingdom, while emphasizing the critical nature of tin as a mineral and the importance of responsible sourcing of critical minerals and security of supply in the energy transition and technology growth.