16th Oct 2024 12:26
Cornish Metals Inc - developing tin mine in Cornwall, England - Enters into GBP7.0 million credit facility with shareholder Vision Blue Resources Ltd. The credit facility will be available until March 31 next year and will have an interest rate of 15% per annum. The funds will be used to support the development of the South Crofty tin project in Cornwall.
"This funding signals Vision Blue's continued support for Cornish Metals and our plans to bring tin mining back to Cornwall through the restart of South Crofty. We plan to generate value by unlocking the project's potential as a long-term supplier of tin needed for electrical applications in the UK and Europe," says Cornish Metals Chief Executive Officer Don Turvey.
Current stock price: 7.80 pence, up 6.9% on Wednesday in London
12-month change: down 22%
By Lydia Doye, Alliance News reporter
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