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Cornish Metals ( (TSE:CUSN) ) has shared an update.
Cornish Metals Inc. has successfully raised approximately £56 million through a significant fundraising effort involving the issuance of 700 million new common shares. This capital will support the company’s progress towards restarting tin production at the South Crofty project. The fundraising was well-supported, with participation from existing shareholders like Vision Blue and new investors such as the UK’s National Wealth Fund. This financial boost is seen as a critical step in maintaining momentum in the company’s development activities, including mine dewatering and shaft refurbishment, which are pivotal for future operations.
More about Cornish Metals
Cornish Metals Inc. is a mineral exploration and development company focusing on its South Crofty tin project located in Cornwall, United Kingdom. The company is primarily involved in the exploration and development of tin resources, seeking to capitalize on the increasing demand for tin, which is vital for electronics and other industries.
YTD Price Performance: -10.62%
Average Trading Volume: 67,614
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$77.61M
See more insights into CUSN stock on TipRanks’ Stock Analysis page.
