Cornish Tin Ltd plans to raise finance via crowdfunding for its tin-copper-lithium-tungsten project at Great Wheal Vor near the village of Breage in Cornwall.
FULL RIGHTS
The company’s first and flagship project is the group of 26 former producing tin and copper mines in the mining district of Breage.
Cornish Tin owns full rights to extract all the minerals and geothermal energy in the old mines that closed 150 years ago following a mineral rights dispute.
PHASE I DRILLING
Cornish Tin’s website states that a private placing during 2021 closed at £1.9 million but the company reserved some equity to offer more widely, including local and smaller investors, before drilling starts.
The company has secured all necessary mineral rights and planning approval for Phase I diamond drilling of 33 holes for 7,000m, with operations due to start in April 2022.