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Cornish Metals' Response to Share Price Movement

Cornish Metals' Response to Share Price Movement

康沃爾金屬對股價走勢的回應
GlobeNewswire ·  05/17 14:00

VANCOUVER, British Columbia, May 17, 2024 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company") notes the recent decline in its share price and confirms it is unaware of any operational or corporate reason for the price movement.

不列顛哥倫比亞省溫哥華,2024年5月17日(GLOBE NEWSWIRE)——康沃爾金屬公司(AIM/TSX-V:CUSN)(“康沃爾金屬” 或 “公司”)注意到其股價最近下跌,並確認其不知道價格變動的任何運營或公司原因。

On April 30, 2024 the Company reported a positive independent Preliminary Economic Assessment ("PEA") for its 100% owned South Crofty tin project located in Cornwall, United Kingdom. The PEA validates South Crofty's economic viability, producing a base case after-tax Net Present Value ("NPV") of US$201 million and Internal Rate of Return ("IRR") of 29.8%, and confirms the Project's potential to be a low-cost and long-life tin mining operation with a current 14-year life of mine ("LOM"). A recording of management's May 1, 2024 detailed presentation of the PEA can be found on the Cornish Metals website or by following this link.

2024年4月30日,該公司報告稱,其位於英國康沃爾郡的南克羅夫蒂錫礦項目獲得了積極的獨立初步經濟評估(“PEA”)。PEA驗證了South Crofty的經濟可行性,得出的基本案例稅後淨現值(“NPV”)爲2.01億美元,內部收益率(“IRR”)爲29.8%,並證實了該項目有可能成爲低成本、長壽命的錫礦開採業務,目前礦山壽命爲14年(“LOM”)。管理層2024年5月1日詳細介紹PEA的記錄可以在康沃爾金屬網站上找到,也可以點擊此鏈接。

A technical report documenting the PEA and prepared in accordance with NI 43-101 is well underway and will be filed on SEDAR+ within 45 days of the April 30th 2024 news release.

一份記錄PEA並根據NI 43-101編寫的技術報告正在順利進行中,並將於4月30日後的45天內在SEDAR+上提交第四 2024 年新聞稿。

As noted on April 16, 2024, ongoing project activities at South Crofty include refurbishment of New Cook's Kitchen ("NCK") mine shaft, mine dewatering, treatment of mine water through the Water Treatment Plant ("WTP"), and exploration drilling of the Wide Formation.

正如2024年4月16日指出的那樣,南克羅夫蒂正在進行的項目活動包括翻新新新庫克廚房(“NCK”)礦井、礦山脫水、通過水處理廠(“WTP”)處理礦井水以及對Wide Formation進行勘探鑽探。

The Company will release its unaudited financial statements and management discussion and analysis ("MD&A") for the three months ended March 31, 2024 by May 23, 2024.

公司將在2024年5月23日之前發佈截至2024年3月31日的三個月未經審計的財務報表和管理層討論與分析(“MD&A”)。

Ken Armstrong, Interim CEO of Cornish Metals, commented: "The Company is unaware of any reason for the selling pressure on the Cornish Metals share price this week. We believe the PEA reported on April 30, 2024 is robust and represents a strong foundation for further evaluation of the South Crofty tin project. South Crofty is fully permitted for mining through to 2071 and has planning permission in place to construct a process plant and other surface facilities on Company owned land adjacent to New Cook's Kitchen shaft. South Crofty is a strategic high-grade tin asset that is well positioned to take advantage of the strong demand for tin, which we believe due to its critical nature and continued supply uncertainty, is likely to continue to trade above the PEA tin price assumption of US$31,000 per tonne."

康沃爾金屬臨時首席執行官肯·阿姆斯特朗評論說:“該公司不知道本週康沃爾金屬股價面臨拋售壓力的任何原因。我們認爲,2024年4月30日公佈的PEA是穩健的,爲進一步評估南克羅夫蒂錫項目奠定了堅實的基礎。到2071年,South Crofty完全獲准進行採礦,並已獲得規劃許可,可以在公司擁有的位於新庫克廚房豎井附近的土地上建造加工廠和其他地面設施。South Crofty是一種戰略性高品位錫資產,完全有能力利用對錫的強勁需求。我們認爲,由於錫的關鍵性質和持續的供應不確定性,其交易價格可能會繼續高於PEA錫價格假設的每噸31,000美元。”

ABOUT CORNISH METALS

關於康沃爾金屬

Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) focused on advancing the South Crofty high-grade, underground tin project through to a construction decision, as well as exploring its additional mineral rights, located in Cornwall, United Kingdom.

Cornish Metals是一家雙重上市的礦產勘探和開發公司(AIM和TSX-V:CUSN),專注於將南克羅夫蒂高品位地下錫項目推進至施工決策,並勘探其位於英國康沃爾郡的其他礦產權。

  • 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 has 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):
    • US$201 million after-tax NPV8% and 29.8% IRR
    • 3-year after-tax payback
    • 4,700 tonnes average annual tin production in years two through six
    • Life of mine all-in sustaining cost of US$13,700 /tonne of payable tin
    • 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.
  • Cornish Metals has a growing team of skilled people, local to Cornwall, and the Project could generate up to 320 direct jobs.
  • 南克羅夫蒂是一座歷史悠久的高品位地下錫礦,於1592年開始生產,經過400多年的連續生產,一直運營到1998年;
  • 該項目擁有地下采礦規劃許可(有效期至2071年)、建造新的加工設施和所有必要的場地基礎設施,以及礦山脫水的環境許可證;
  • South Crofty擁有全球最高等級的錫礦產資源之一,受益於現有的礦山基礎設施,包括可用於未來運營的多個豎井;
  • 2024年南克羅夫蒂初步經濟評估證實了該項目的潛力(見2024年4月30日的新聞稿):
    • 2.01 億美元的稅後淨現值8% 和 29.8% 的內部收益率
    • 3 年稅後投資回報
    • 第二至第六年的平均年錫產量爲4,700噸
    • 礦山壽命全額維持成本爲每噸應付錫13,700美元
    • 自投產之日起的稅後總現金流爲6.26億美元
  • 根據英國、美國和加拿大政府的定義,錫是一種關鍵礦物;
  • 今天開採的錫約有三分之二來自中國、緬甸和印度尼西亞;
  • 歐洲或北美沒有初級錫生產;
  • 錫連接幾乎所有的電子和電氣基礎設施,使其對能源轉型至關重要——關鍵礦產的負責任採購和供應安全是能源轉型和技術增長的關鍵因素;
  • 南克羅夫蒂受益於當地社區、地區和國家政府的大力支持。
  • 康沃爾金屬擁有越來越多的熟練人才隊伍,位於康沃爾郡,該項目可以創造多達320個直接就業機會。

TECHNICAL INFORMATION

技術信息

This news release has been reviewed and approved by Mr Owen Mihalop, MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng, 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). Mr. Mihalop consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

本新聞稿已由康沃爾金屬公司首席運營官歐文·米哈洛普先生、MCSM、BSc(榮譽)、理學碩士、FGS、MIMMM、CenG審查和批准,他是NI 43-101規定的合格人員,也是JORC守則(2012年)定義的合格人員。米哈洛普先生根據其所提供的信息,同意在本公告中納入有關事項。

ON BEHALF OF THE BOARD OF DIRECTORS

代表董事會

"Kenneth A. Armstrong"
Kenneth A. Armstrong P.Geo.

“肯尼斯·阿姆斯特朗”
肯尼斯·阿姆斯特朗 P.Geo。

Engage with us directly at our investor hub. Sign up at:

直接在我們的投資者中心與我們互動。在以下網址註冊:

For additional information please contact:

欲了解更多信息,請聯繫:

Cornish Metals
Fawzi Hanano
Irene Dorsman
investors@cornishmetals.com
info@cornishmetals.com
Tel: +1 (604) 200 6664
SP Angel Corporate Finance LLP
(Nominated Adviser & Joint Broker)
Richard Morrison
Charlie Bouverat
Grant Barker
Tel: +44 203 470 0470
Cavendish Capital Markets Limited
(Joint Broker)
Derrick Lee
Neil McDonald
Leif Powis
Tel: +44 131 220 6939
Tel: +44 207 220 0500
Hannam & Partners
(Financial Adviser)
Matthew Hasson
Andrew Chubb
Jay Ashfield
cornish@hannam.partners
Tel: +44 207 907 8500
BlytheRay
(Financial PR)
Tim Blythe
Megan Ray
tim.blythe@blytheray.com
megan.ray@blytheray.com
Tel: +44 207 138 3204
康沃爾金屬
Fawzi Hanano
艾琳·多斯曼
investors@cornishmetals.com
info@cornishmetals.com
電話:+1 (604) 200 6664
SP Angel 企業融資有限責任公司
(提名顧問和聯合經紀人)
理查德·莫里森
查理·布維拉特
格蘭特·巴克
電話:+44 203 470 0470
卡文迪什資本市場有限公司
(聯合經紀人)
德里克·李
尼爾·麥克唐納
Leif Powis
電話:+44 131 220 6939
電話:+44 207 220 0500
漢南與合夥人
(財務顧問)
馬修·哈森
安德魯·丘布
傑伊阿什菲爾德
cornish@hannam.partners
電話:+44 207 907 8500
blyTheRay
(金融公關)
蒂姆·布萊斯
梅根·雷
tim.blythe@blytheray.com
megan.ray@blytheray.com
電話:+44 207 138 3204

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任

Caution regarding forward looking statements

謹慎對待前瞻性陳述

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals, including but not limited to: mineralisation at South Crofty, mine dewatering and NCK Shaft refurbishment expectations, timing of completion of a technical report summarising the results of the PEA; the development, operational and economic results of the PEA, including cash flows, capital expenditures, development costs, extraction rates, recovery rates, mining cost estimates; estimation of mineral resources; statements about the estimate of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of the South Crofty project mine plan; future operations; the completion and timing of future development studies; anticipated advancement of mineral properties or programmes; Cornish Metals' exploration drilling programme, exploration potential and project growth opportunities for the South Crofty tin project and other Cornwall mineral properties and the timing thereof, timing and results of Cornish Metals' feasibility study, the Company's ability to evaluate and develop the South Crofty tin project and other Cornwall mineral properties, strategic vision of Cornish Metals and expectations regarding the South Crofty mine, timing and results of projects mentioned. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could", "would" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

本新聞稿包含某些 “前瞻性信息” 和 “前瞻性陳述”(統稱爲 “前瞻性陳述”)。前瞻性陳述包括預測、預測、展望、指導、估計和預測以及有關未來計劃、礦產資源或礦產儲量估算的實現、成本、時間和範圍、大宗商品價格估計、貨幣匯率波動、未來勘探支出估計、開發新礦牀的成本和時機、勘探活動的成功、許可時間表、額外資本要求以及公司在需要時獲得融資的能力等其他陳述公司可接受的條款、康沃爾金屬的未來或預計礦山壽命以及其他活動或成就,包括但不限於:南克羅夫蒂的礦化、礦山脫水和NCK豎井翻新預期、總結PEA結果的技術報告的完成時間;PEA的開發、運營和經濟業績,包括現金流、資本支出、開發成本、開採率、採礦成本估算;礦產資源估算;關於估計的陳述礦產資源;礦牀的規模或質量;南克羅夫蒂項目礦山計劃的預期進展;未來的運營;未來開發研究的完成和時機;礦產特性或計劃的預期進展;康沃爾金屬的勘探鑽探計劃、南克羅夫蒂錫項目和其他康沃爾礦產的勘探潛力和項目增長機會及其時間、康沃爾金屬可行性研究的時間和結果、公司評估和開發該項目的能力南克羅夫蒂錫礦項目和其他康沃爾礦產、康沃爾金屬的戰略願景以及對南克羅夫蒂礦的預期、上述項目的時間和結果。前瞻性陳述通常使用 “尋求”、“預測”、“相信”、“計劃”、“估計”、“預測”、“預期”、“潛在”、“項目”、“目標”、“時間表”、“預算” 和 “打算” 等詞語來識別,並陳述某一事件或結果 “可能”、“將”、“應該”、“可以”、“會” 或 “可能” 出現或實現以及其他類似的表述,包括其否定詞。除本新聞稿中包含的歷史事實陳述外,所有陳述均爲前瞻性陳述,涉及各種風險和不確定性,無法保證此類陳述會被證明是準確的,實際結果和未來事件可能與此類陳述中的預期存在重大差異。

Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; outcome of the current Feasibility Study; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements.

前瞻性陳述存在風險和不確定性,可能導致實際結果與此類前瞻性陳述所表達或暗示的結果存在重大差異,包括但不限於:與獲得監管部門批准相關的風險、與總體經濟和市場狀況相關的風險;與融資可用性相關的風險;即將到來的工作計劃的時間和內容;擬議勘探活動的實際結果;礦產資源或品位的可能變化;當前可行性研究的結果;開採業務的預計日期;工廠、設備或工藝未能按預期運行;事故、勞資糾紛、所有權爭議、索賠和保險承保範圍限制以及採礦業其他風險;國家和地方政府對採礦業務的監管、稅收規則和規章的變化。該清單並未詳盡列出可能影響康沃爾前瞻性陳述的因素。

Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.

康沃爾金屬的前瞻性陳述基於管理層的觀點和估計,反映了他們當前對未來事件和經營業績的預期,僅代表截至此類陳述發表之日。儘管公司試圖確定可能導致實際行動、事件或結果與前瞻性陳述中描述的有所不同的重要因素,但可能還有其他因素導致此類行動、事件或結果與預期存在重大差異。無法保證前瞻性陳述會被證明是準確的,因此提醒讀者不要過分依賴前瞻性陳述。因此,讀者不應過分依賴前瞻性陳述。除適用法律要求外,如果情況或管理層的信念、期望或觀點發生變化,康沃爾金屬不承擔任何更新前瞻性陳述的義務。


譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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