Cornish Metals Plc · LSE:TIN
Cornish Metals — Investor Presentation (October 2021)
36 slides from Cornish Metals's investor presentation, October 2021
Slide 1: A unique opportunity for tin, copper and lithium in Cornwall
A unique opportunity for tin, copper and lithium in Cornwall OCTOBER 2021 AIM / TSX-V : CUSN 1 All information ©Cornish Metals Inc. All Rights Reserved.
Slide 2: Disclaimer
Cornish Metals Inc Corporate Presentation Disclaimer This presentation may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, pe
Slide 3: Company background
Cornish Metals Inc Corporate Presentation Company background Owns a highly prospective portfolio of tin-copper-lithium assets in Cornwall. Osisko Gold Royalties-backed Preliminary Economic Assessment of South Crofty. Updated South Crofty concept to acquire high quality Resource 2021 2015 2017 minera
Slide 4: Management team
Cornish Metals Inc Corporate Presentation Management team Richard Williams President / Chief Executive Officer Over 30 years’ experience in the Spent the last 15 years Richard is a Professional Geologist with a M.Sc mining and exploration sectors, in public company degree in Mineral Exploration from
Slide 5: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 5 AIM / TSX-V : CUSN
Slide 6: The opportunity
Cornish Metals Inc Corporate Presentation The opportunity Exploration - United Downs Project - discovery of high-grade copper-tin in 2020 Development – South Crofty high grade tin project – Permits in hand Drill core from the new discovery at United Downs– 14.69m at 8.45% Cu and 1.2% Sn Exposure to
Slide 7: The assets
Cornish Metals Inc Corporate Presentation The assets South Crofty tin mine Operated for 400+ years. Drill core from the United Downs new discovery– 14.69m at 8.45% Cu and 1.2% Sn One of the highest grade tin resources globally; “world class” tin belt. United Downs copper - tin project Strong communi
Slide 8: The assets: Mineral Rights
Cornish Metals Inc Corporate Presentation Cornish Metals’ Mineral Rights The assets Lithium exposure through Cornish Lithium South Crofty Cornish Lithium has the right to explore Cornish Metals’ mineral Gwinear right areas for lithium-in-brine & geothermal energy. Cu-Sn Project Cornish Metals has a
Slide 9: ESG focus
Cornish Metals Inc Corporate Presentation Richard Williams and Owen Mihalop presenting the South Crofty project to members of the local community. ESG focus Focus on brownfields areas: Projects located in areas of intense historic mining activity – remediation opportunity. Adding value to the region
Slide 10: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 10 AIM / TSX-V : CUSN
Slide 11: United Downs
Cornish Metals Inc Corporate Presentation United Downs New copper-tin (+silver) discovery 14.69m at 8.45% Cu and 1.2% Sn Drill core from 2020 discovery drill hole GWDD-002 at United Downs; section shown from 93.5m to 101m downhole. Multiple drill targets – Lithium Lode (Cu-Sn-Ag), Trenares Lode (Cu-
Slide 12: United Downs
Cornish Metals Inc Corporate Presentation United Downs Surrounded by old mines Decline INE NEM The best place to INES JA Maid L TED M EA find a new mine is IDA WH SOL CON Wheal next to an old mine! GE T TO N TAR LING S L LO DE WE DEEP E UD N MIN T Target area hosts multiple Cu - Sn +/- Ag New Discov
Slide 13: Growth strategy
Cornish Metals Inc Corporate Presentation Growth strategy Near term Ongoing 8,000m – 9,000m drill programme at United Downs to advance the project to inferred resource definition and scoping study. Test multiple lodes over a 1,000m strike length to a depth of 500m in the initial phase. Subject to dr
Slide 14: Programme & budget
AIM / TSX-V : CUSN Cornish Metals Inc Corporate Presentation Programme & budget Objective: 8,000m drill programme, initial resource estimate and scoping study over next 12 months. Delivery of feasibility study within 3 years (subject to drilling success and further funding). Year 1: Outline potentia
Slide 15: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 15 AIM / TSX-V : CUSN
Slide 16: South Crofty Tin Mine
Cornish Metals Inc Corporate Presentation South Crofty Tin Mine There is no primary mine production of tin in Europe or North America. A historic long-life mine, with one of the highest grade tin resources globally. An opportunity to produce “clean tin” - conflict free, and a positive impact on the
Slide 17: South Crofty P.E.A. and potential resource
AIM / TSX-V : CUSN Cornish Metals Inc Corporate Presentation South Crofty P.E.A. and potential resource 2021 Mineral Resource Estimate (figures below are for the tin-only Lower Mine Resource): Potential mine life extension Mine Life (years) • Indicated: 2.08 Mt @ 1.59% Sn (25% increase) 70 • Inferre
Slide 18: South Crofty snapshot
AIM / TSX-V : CUSN Cornish Metals Inc Corporate Presentation South Crofty snapshot South Crofty is one of the highest grade tin projects in the world South Crofty is positioned in the lowest quartile of Sn cash cost curve Tin mineral resources grade (%) Costs ($/Tonne Of Tin) 5 .0 % 5 50,000 40,000
Slide 19: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 19 AIM / TSX-V : CUSN
Slide 20: Tin - essential in electronics
AIM / TSX-V : CUSN Cornish Metals Inc Corporate Presentation Tin - essential in electronics Major tin end-users Global tin use by applications Metals most impacted by new technology 6% 6% 10% Solder Chemicals Automotive Packaging Tinplate (Food & Beverages) 13% Other 47% Lead-acid batteries Copper a
Slide 21: Current Tin Market Opportunity
Cornish Metals Inc Corporate Presentation Current Tin Market Opportunity GROWING DEMAND shift to technology-based economies, EVs, renewable power, internet of things, batteries, robotics SUPPLY PROBLEMS MYANMAR coup / domestic unrest / covid–related production slowdown MALAYSIA COVID-related smelter
Slide 22: Copper - strong fundamentals
Cornish Metals Inc Corporate Presentation Copper - strong fundamentals Copper end markets 1. Construction 2. Electromobility 3. Renewables 4. Energy efficiency Copper plays a key role in construction completion and renovation activities. The metal also faces renewed demand in the wake of the EV revo
Slide 23: Lithium - supply and demand widening market deficit looming
AIM / TSX-V : CUSN Cornish Metals Inc Corporate Presentation Lithium - supply and demand widening market deficit looming The widening market deficit in the lithium sector Surplus (deficit) projections will put pressure on the price kt kt 3 ,0 0 0.0 4 00 202 240 220 2 00 101 96 137 99 117 105 139 52
Slide 24: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 24 AIM / TSX-V : CUSN
Slide 25: Investment highlights
Cornish Metals Inc Corporate Presentation Investment highlights High Impact Drilling: complete drilling programme at United Downs. Market opportunity Fully permitted for a production decision at South Crofty, subject to completion of a feasibility study. Copper, tin and lithium are fundamental to gr
Slide 26: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. AIM / TSX-V : CUSN
Slide 27: Corporate information
Cornish Metals Inc Corporate Presentation Corporate information Canada (TSXV – CUSN) Ordinary shares in issue CAD Cornish Metals share price (TSX-V last 5 years) CUSN 269,920,157 0.3 0.25 Warrants (at $0.07 & $0.10 / share) Stock options 0.2 10,072,222 8,930,000 0.15 0.1 0.05 Major Shareholders 0 Ba
Slide 28: Directors & management
Cornish Metals Inc Corporate Presentation Patrick F.N. Anderson Chairman Directors (Image space if required) Mr. Anderson is the CEO of Dalradian Gold, currently permitting the Curraghinalt gold project in Northern Ireland. He was formerly director, President, Chief Executive Officer and co-founder
Slide 29: Directors & management
Cornish Metals Inc Corporate Presentation D. Grenville Thomas Director Directors Mr. Thomas has over 50 years' experience in the mining industry, building an impressive track record of discovery, including the world-class Diavik diamond mine and the Thor Lake rare metals deposit. He was the founder
Slide 30: Cornwall Project Terms of Acquisition
Cornish Metals Inc Corporate Presentation Cornwall Project Terms of Acquisition Residual Payments to Galena & Tin Shield following Cornish Metals’ Mineral Rights acquisition of Cornish assets in 2016 Cornish Metals to pay the following amounts in shares upon reaching certain milestones: South Crofty
Slide 31: What is South Crofty?
Cornish Metals Inc Corporate Presentation What is South Crofty? • A “world class” tin deposit - 3rd highest grade tin deposit globally. • Underground “Mining” Permission granted in 2013. • Surface Permission for process plant granted in 2011. • Water Treatment & Discharge Permit granted in 2017. Sou
Slide 32: South Crofty infrastructure
Cornish Metals Inc Corporate Presentation South Crofty infrastructure Significant infrastructure for future operations still intact Usable shafts (for ventilation and hoisting to a sub-level with connection to decline). • New Cooks Kitchen: 770m deep 6.0m x 2.5m (principal skip and service shaft) •
Slide 33: Modern Mining Operations
Cornish Metals Inc Corporate Presentation Modern Mining Operations Proven Resource and Infrastructure • Existing infrastructure - shafts, decline and underground development give direct access to ore bodies and reduce startup capital costs. • Mineral Resources estimated in accordance with internatio
Slide 34: Central process plant – South Crofty
Cornish Metals Inc Corporate Presentation Central process plant – South Crofty United Downs 8km South Crofty 6km Gwinear Process Offices and Plant Workshop The mineral processing plant is fully permitted for construction. New mineral processing plant permitted for construction All information ©Corni
Slide 35: 2021 resource & 2017 PEA info
Cornish Metals Inc Corporate Presentation 2021 resource & 2017 PEA info Updated NI 43-101 Resource Estimate published June 9, 2021 (figures below are for the tin-only Lower Mine Resource): • Indicated: 2.08 Mt @ 1.59% Sn The PEA was prepared by P&E Mining Consultants Inc. • Inferred: 1.94 Mt @ 1.67%
Slide 36: South Crofty comparables & potential
Cornish Metals Inc Corporate Presentation South Crofty comparables & potential Grade comparison with other tin projects South Crofty – additional potential Company Project Country M&I tonnes Grade East of Great Crosscourse Tonnage potential Alphamin Resources Bisie DRC 4,320,000 4.61% Dolcoath Main
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