Cornish Metals Inc has announced the issuance of 5,150,000 incentive stock options to directors and senior management.
CORNISH METALS
The options have an exercise price of 10 cents per share and are valid for a five-year period which is due to expire on 18 August 2025.
The Canadian company, previously called Strongbow Exploration, is an associate company of Osisko.
Its flagship project is in South Crofty underground tin mine in Cornwall for which Cornish Metals has a mining licence valid until 2071.
It also has planning permission to build a surface process plant and the project is fully permitted.
Cornish Metals also has additional mineral rights in Cornwall, covering some 15,000 hectares throughout Cornwall including the United Downs project.
AGREEMENT
In January 2017, the company agreed to allow Cornish Lithium Ltd to explore Cornish Metals’ mineral rights in Cornwall for lithium-in-brine.
Cornish Metals retains the rights to any hard rock mineralisation.