Cornish Metals (LON:CUSN) Shares Down 6.1% - Here's What Happened

Key Points

• Cornish Metals Inc. stock price fell by 6.1%, closing at GBX 7.08, with trading volume significantly increasing by 102% from the average daily volume.
• The company is focused on advancing the South Crofty high-grade tin project, which has a robust economic feasibility highlighted by a US$201 million NPV and significant annual tin production potential.
• Tin is identified as a Critical Mineral, crucial for energy transition technologies, with South Crofty benefiting from strong government support for its operations.

Cornish Metals Inc. (LON:CUSN - Get Free Report) fell 6.1% during trading on Tuesday . The company traded as low as GBX 6.75 ($0.09) and last traded at GBX 7.08 ($0.09). 1,400,452 shares were traded during trading, an increase of 102% from the average session volume of 692,376 shares. The stock had previously closed at GBX 7.54 ($0.10).

Cornish Metals Stock Down 0.3%

The firm has a market capitalization of £62.13 million, a P/E ratio of -323.25 and a beta of 2.48. The business's 50-day simple moving average is GBX 8 and its 200 day simple moving average is GBX 8.01.

Cornish Metals Company Profile

Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) focused on advancing the 100% owned and permitted South Crofty high-grade, underground tin project towards production. The Company also holds additional mineral rights located in Cornwall, United Kingdom. • South Crofty is a historical, high-grade, underground tin mine that started production in 1592 and continued operating until 1998 following over 400 years of continuous production; • The Project possesses Planning Permission for underground mining (valid to 2071), to construct new processing facilities and all necessary site infrastructure, and an Environmental Permit to dewater the mine; • South Crofty is one of the highest grade tin Mineral Resources globally and benefits from existing mine infrastructure including multiple shafts that can be used for future operations; • The 2024 Preliminary Economic Assessment for South Crofty validates the Project's potential (see news release dated April 30, 2024 and the Technical Report entitled “South Crofty PEA” dated April 8, 2024): o US$201 million after-tax NPV8% and 29.8% IRR o 3-year after-tax payback o 4,700 tonnes average annual tin production in years two through six o Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin o Total after-tax cash flow of US$626 million from start of production • Tin is a Critical Mineral as defined by the UK, American, and Canadian governments; • Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia; • There is no primary tin production in Europe or North America; • Tin connects almost all electronic and electrical infrastructure, making it critical to the energy transition – responsible sourcing of critical minerals and security of supply are key factors in the energy transition and technology growth; • South Crofty benefits from strong local community, regional and national government support.