Cornish Metals Inc. has filed a technical report for its South Crofty tin project in Cornwall, United Kingdom. The report, prepared by AMC Consultants (UK) Limited, outlines the positive results of the Preliminary Economic Assessment (PEA). The South Crofty project, a historical high-grade underground tin mine, has received Planning Permission for underground mining and possesses one of the highest grade tin Mineral Resources globally. The 2024 PEA 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 as defined by the UK, American, and Canadian governments, is crucial to the energy transition and technology growth. With no primary tin production in Europe or North America, South Crofty's strong local community, regional, and national government support positions it as a significant player in the industry. The project could generate up to 320 direct jobs, and the company has a growing team of skilled individuals local to Cornwall.
The news release has been reviewed and approved by Mr. Owen Mihalop, Chief Operating Officer for Cornish Metals Inc., who is the designated Qualified Person under NI 43-101 and a Competent Person as defined under the JORC Code (2012). The company's contact information and regulatory details are also provided for further inquiries.
This comprehensive summary provides an overview of Cornish Metals Inc.'s recent filing and the positive outlook for the South Crofty tin project, emphasizing its potential economic impact and significance in the global tin market.