Cornish Metals Inc. has announced the granting of 12,400,000 incentive stock options over common shares to Executive Management and senior staff. The exercise price of the options is 0.085 per share (C$0.14), with a five-year term and vesting over a three-year period. This issuance takes the total number of options granted to 26,950,000, representing 5.03% of the Issued Share Capital. The company's Stock Option Plan allows for the issuance of up to 10% of the Issued Share Capital.
The PDMR Option Grants were given to Owen Mihalop, Matthew Hird, and Fawzi Hanano, with each receiving a specific number of options based on their positions. The company also encourages engagement through its Investor Hub, where shareholders can ask questions and watch video summaries.
Cornish Metals is a dual-listed mineral exploration and development company focused on advancing the South Crofty high-grade, underground tin project in Cornwall, United Kingdom. The South Crofty mine, with a rich history dating back to 1592, has Planning Permission for underground mining valid until 2071 and possesses high-grade tin Mineral Resources. The 2024 Preliminary Economic Assessment for South Crofty validates the project's potential, with a significant after-tax NPV8% and IRR, and strong local community and government support.
The company emphasizes the critical nature of tin as a mineral, its role in electronic and electrical infrastructure, and the importance of responsible sourcing of critical minerals. The 2024 Preliminary Economic Assessment is preliminary in nature and includes inferred mineral resources. The news release has been reviewed and approved by Mr. Owen Mihalop, the designated Qualified Person under NI 43-101 and the AIM Rules for Companies.
Cornish Metals provides contact information for additional inquiries and has engaged SP Angel Corporate Finance LLP, Cavendish Capital Markets Limited, and Hannam & Partners for financial advisory and corporate finance services.