Cornish Metals plc
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Mining & Critical MineralsCornish Metals’ £135 Million Raise Would Unlock South Crofty Funding at a Dilutive Price
Cornish Metals has proposed the equity financing needed to advance South Crofty and release its escrowed bond funding. The package also converts shareholder loans and introduces Glencore as a buyer of future production. Existing shareholders gain a clearer construction path while sharing the eventual returns across substantially more shares.
Mining & Critical MineralsSouth Crofty’s Tin Economics Have Changed Dramatically, but Cornish Metals Still Has a $161 Million Financing Test
Tin prices near $54,000 per tonne have lifted Cornish Metals’ estimated South Crofty NPV from £180 million to roughly £550 million, while construction continues toward mid-2028 production. But $215.8 million of bond proceeds remain trapped in escrow until the company completes at least $161 million of equity financing, making capital structure rather than commodity economics the project’s immediate constraint.
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