John McGloin Buys 625,000 Shares of Cornish Metals (LON:CUSN) Stock

Cornish Metals Inc. (LON:CUSN) insider John McGloin bought 625,000 shares of the stock in a transaction on Friday, October 10th. The shares were bought at an average price of GBX 8 per share, for a total transaction of £50,000.

Cornish Metals Stock Up 4.7%

CUSN stock opened at GBX 8.17 on Monday. The stock’s fifty day simple moving average is GBX 7.51 and its 200-day simple moving average is GBX 7.73. Cornish Metals Inc. has a 52-week low of GBX 6.50 and a 52-week high of GBX 10. The stock has a market capitalization of £102.39 million, a price-to-earnings ratio of 1,059.54 and a beta of 2.48.

Cornish Metals Company Profile

Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) focused on advancing the 100% owned and permitted South Crofty high-grade, underground tin project towards production. The Company also holds additional mineral rights located in Cornwall, United Kingdom.
• 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 is 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 and the Technical Report entitled “South Crofty PEA” dated April 8, 2024):
o US$201 million after-tax NPV8% and 29.8% IRR
o 3-year after-tax payback
o 4,700 tonnes average annual tin production in years two through six
o Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin
o 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.