Cornish Metals Announces Sale of Nickel King Property
Cornish Metals Announces Sale of Nickel King Property
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), is pleased to announce that it has entered into a binding letter of intent (the "Agreement") with Northera Resources Ltd. ("Northera") for the sale of the Company's 100% interest in the Nickel King and Opescal Lake properties (together, the "Nickel King Property") for a total consideration of up to C$8 million.
不列顛哥倫比亞省溫哥華,2024年6月17日(GLOBE NEWSWIRE)——康沃爾金屬公司(AIM/TSX-V:CUSN)(“康沃爾金屬” 或 “公司”)欣然宣佈,它已與北方資源有限公司(“Northera”)簽訂了具有約束力的意向書(“協議”),以出售該公司在鎳王和歐佩斯100%的權益 Cal Lake地產(合稱 “鎳王地產”),總對價高達800萬加元。
Ken Armstrong, Interim CEO and Director of Cornish Metals, stated: "The sale of Nickel King aligns with Cornish Metals' objective to focus its efforts on advancing its 100% owned and fully permitted South Crofty tin project, in the UK, towards a construction decision. Cornish Metals will retain exposure to any future exploration success at Nickel King, as Northera works to recommence exploration activities at the Nickel King Property which comprises approximately 4,000 hectares in mining leases and mineral claims in Canada's Northwest Territories."
康沃爾金屬臨時首席執行官兼董事肯·阿姆斯特朗表示:“出售鎳王符合康沃爾金屬的目標,即集中精力推進其在英國100%擁有和完全許可的南克羅夫蒂錫礦項目以做出施工決策。康沃爾金屬公司將保留對鎳王未來任何成功勘探的風險敞口,因爲Northera正在努力重新開始鎳王地產的勘探活動,該地產包括加拿大西北地區約4,000公頃的採礦租約和礦產索賠。”
Under the terms of the Agreement:
根據協議的條款:
- Northera will pay Cornish Metals a non-refundable cash payment of C$100,000 within five days of signing the Agreement.
- Within 95 days of signing the agreement, Cornish Metals will transfer to Northera the legal and beneficial title to the mining leases and mineral claims comprising the Nickel King Property, and Northera will pay the Company a non-refundable cash payment of C$900,000.
- Cornish Metals and Northera will enter into a final definitive agreement (the "Definitive Agreement") on or before the date that is 60 days following the signing of the Agreement.
- Upon completion of a go public transaction by Northera, resulting in a listing of securities on the TSX Venture Exchange, or other stock exchange, Northera will issue to Cornish Metals common shares in the capital of Northera having an aggregate market value equal to C$7 million. 1
- Northera將在協議簽署後的五天內向康沃爾金屬公司支付10萬加元的不可退還的現金款項。
- 在協議簽署後的95天內,康沃爾金屬將把包括鎳王地產在內的採礦租賃和礦產索賠的合法和實益所有權轉讓給Northera,Northera將向公司支付90萬加元的不可退還的現金。
- 康沃爾金屬和Northera將在協議簽署後的60天當天或之前簽訂最終最終協議(“最終協議”)。
- 在Northera完成公開交易並導致證券在多倫多證券交易所風險交易所或其他證券交易所上市後,Northera將向康沃爾金屬發行Northera資本中的普通股,總市值等於700萬加元。 1
The Company's wholly owned Nickel King Property is located in the Northwest Territories, 135 km northeast of Stony Rapids, Saskatchewan. The Nickel King Nickel-Copper-Cobalt ("Ni-Cu-Co") deposit is hosted within two arcuate stacked, moderately south-dipping norite sills and mineralisation has been traced over a total strike length of approximately 2,600 metres. An NI 43-101 compliant geological resource model yielded 11.1 Mt grading at 0.40% Ni, 0.10% Cu and 0.018% Co containing 44,500 t of Ni, 10,600 t of Cu and 2,200 t of Co in the Indicated Category. The total Inferred Resource is 33.1 Mt grading at 0.36% Ni, 0.09% Cu and 0.017% Co containing 119,300 t of Ni, 29,000 t of Cu and 5,600 t of Co. Refer to the Nickel King Technical Report dated 2 June 2010.
該公司的全資Nickel King地產位於薩斯喀徹溫省石急流東北135公里處的西北地區。Nickel King 鎳銅鈷(“Ni-Cu-Co”)礦牀位於兩個弧形堆疊、中度向南傾斜的北極岩基岩基巖中,礦化的走向總長度約爲 2,600 米。符合北愛爾蘭43-101標準的地質資源模型得出的11.1萬噸鎳含量爲0.40%,銅含量爲0.10%,鈷含量爲0.018%,其中含有44,500噸鎳、10,600噸銅和2,200噸碳,屬於指定類別。推斷資源總量爲3310萬噸,鎳品位爲0.36%,銅含量爲0.09%,鈷含量爲0.017%,其中含有119,300噸鎳、29,000噸銅和5,600噸鈷。請參閱 2010 年 6 月 2 日的《鎳王技術報告》。
The Nickel King Property has a book value of nil.
鎳王地產的賬面價值爲零。
ABOUT CORNISH METALS
關於康沃爾金屬
Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) focused on advancing the South Crofty high-grade, underground tin project through to a construction decision, as well as exploring its additional mineral rights, located in Cornwall, United Kingdom.
Cornish Metals是一家雙重上市的礦產勘探和開發公司(AIM和TSX-V:CUSN),專注於將南克羅夫蒂高品位地下錫項目推進至施工決策,並勘探其位於英國康沃爾郡的其他礦產權。
- 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):
- US$201 million after-tax NPV8% and 29.8% IRR
- 3-year after-tax payback
- 4,700 tonnes average annual tin production in years two through six
- Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin
- 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.
- Cornish Metals has a growing team of skilled people, local to Cornwall, and the Project could generate up to 320 direct jobs.
- 南克羅夫蒂是一座歷史悠久的高品位地下錫礦,於1592年開始生產,經過400多年的連續生產,一直運營到1998年;
- 該項目擁有地下采礦規劃許可(有效期至2071年)、建造新的加工設施和所有必要的場地基礎設施,以及礦山脫水的環境許可證;
- South Crofty是全球最高等級的錫礦產資源之一,受益於現有的礦山基礎設施,包括可用於未來運營的多個豎井;
- 2024年南克羅夫蒂初步經濟評估證實了該項目的潛力(見2024年4月30日的新聞稿和2024年4月8日題爲 “南克羅夫蒂經濟評估” 的技術報告):
- 2.01 億美元的稅後淨現值8% 和 29.8% 的內部收益率
- 3 年稅後投資回報
- 第二至第六年的平均年錫產量爲4,700噸
- 礦山壽命全額維持成本爲每噸應付錫13,660美元
- 自投產之日起的稅後總現金流爲6.26億美元
- 根據英國、美國和加拿大政府的定義,錫是一種關鍵礦物;
- 今天開採的錫約有三分之二來自中國、緬甸和印度尼西亞;
- 歐洲或北美沒有初級錫生產;
- 錫連接幾乎所有的電子和電氣基礎設施,使其對能源轉型至關重要——關鍵礦產的負責任採購和供應安全是能源轉型和技術增長的關鍵因素;
- 南克羅夫蒂受益於當地社區、地區和國家政府的大力支持。
- 康沃爾金屬擁有越來越多的熟練人才隊伍,位於康沃爾郡,該項目可以創造多達320個直接就業機會。
The 2024 Preliminary Economic Assessment for South Crofty is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as mineral reserves. There is no certainty that the 2024 Preliminary Economic Assessment will be realised. Mineral resources that are not mineral reserves do not have economic viability.
《2024年南克羅夫蒂初步經濟評估》本質上是初步的,包括推斷出的礦產資源,這些礦產資源在地質學上被認爲過於投機,因此無法將其歸類爲礦產儲量。目前尚不確定2024年的初步經濟評估能否實現。非礦產儲量的礦產資源沒有經濟可行性。
TECHNICAL INFORMATION
技術信息
This news release has been reviewed and approved by Mr Owen Mihalop, MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng, Chief Operating Officer for Cornish Metals Inc. who is the designated Qualified Person under NI 43-101 and a Competent Person as defined under the JORC Code (2012). Mr. Mihalop consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
本新聞稿已由康沃爾金屬公司首席運營官歐文·米哈洛普先生、MCSM、BSc(榮譽)、理學碩士、FGS、MIMMM、CenG審查和批准,他是NI 43-101規定的合格人員,也是JORC守則(2012年)定義的合格人員。米哈洛普先生根據其所提供的信息,同意在本公告中納入有關事項。
ON BEHALF OF THE BOARD OF DIRECTORS
代表董事會
"Kenneth A. Armstrong"
Kenneth A. Armstrong P.Geo.
“肯尼斯·阿姆斯特朗”
肯尼斯·阿姆斯特朗 P.Geo。
Engage with us directly at our investor hub. Sign up at:
直接在我們的投資者中心與我們互動。在以下網址註冊:
For additional information please contact:
欲了解更多信息,請聯繫:
Cornish Metals |
Fawzi Hanano Irene Dorsman |
investors@cornishmetals.com info@cornishmetals.com |
Tel: +1 (604) 200 6664 |
||
SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker) |
Richard Morrison Charlie Bouverat Grant Barker |
Tel: +44 203 470 0470 |
Cavendish Capital Markets Limited (Joint Broker) |
Derrick Lee Neil McDonald Leif Powis |
Tel: +44 131 220 6939 Tel: +44 207 220 0500 |
Hannam & Partners (Financial Adviser) |
Matthew Hasson Andrew Chubb Jay Ashfield |
cornish@hannam.partners Tel: +44 207 907 8500 |
BlytheRay (Financial PR) |
Tim Blythe Megan Ray |
tim.blythe@blytheray.com megan.ray@blytheray.com Tel: +44 207 138 3204 |
康沃爾金屬 |
Fawzi Hanano 艾琳·多斯曼 |
investors@cornishmetals.com info@cornishmetals.com |
電話:+1 (604) 200 6664 |
||
SP Angel 企業融資有限責任公司 (提名顧問和聯合經紀人) |
理查德·莫里森 查理·布維拉特 格蘭特·巴克 |
電話:+44 203 470 0470 |
卡文迪什資本市場有限公司 (聯合經紀人) |
德里克·李 尼爾·麥克唐納 Leif Powis |
電話:+44 131 220 6939 電話:+44 207 220 0500 |
漢南與合夥人 (財務顧問) |
馬修·哈森 安德魯·丘布 傑伊阿什菲爾德 |
cornish@hannam.partners 電話:+44 207 907 8500 |
blyTheRay (金融公關) |
蒂姆·布萊斯 梅根·雷 |
tim.blythe@blytheray.com megan.ray@blytheray.com 電話:+44 207 138 3204 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Caution regarding forward looking statements
謹慎對待前瞻性陳述
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans and operations, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals, including but not limited to: mineralisation at South Crofty, mine dewatering and construction requirements; the development, operational and economic results of the preliminary economic assessment, including cash flows, capital expenditures, development costs, extraction rates, recovery rates, mining cost estimates and returns; estimation of mineral resources; statements about the estimate of mineral resources and production of minerals; magnitude or quality of mineral deposits; anticipated advancement of the South Crofty project mine plan; exploration potential and project growth opportunities for the South Crofty tin project and other Cornwall mineral properties, the Company's ability to evaluate and develop the South Crofty tin project and other Cornwall mineral properties, strategic vision of Cornish Metals and expectations regarding the South Crofty mine, timing and results of projects mentioned. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could", "would" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
本新聞稿包含某些 “前瞻性信息” 和 “前瞻性陳述”(統稱爲 “前瞻性陳述”)。前瞻性陳述包括預測、預測、展望、指導、估計和預測以及有關未來計劃和運營、礦產資源或礦產儲量估算的實現、成本、時間和範圍、大宗商品價格估計、貨幣匯率波動、未來勘探支出估計、開發新礦牀的成本和時機、勘探活動的成功、許可時間表、額外資本要求以及公司在以下情況下獲得融資的能力的其他陳述要求並以公司可接受的條款規定康沃爾金屬的未來或預計礦山壽命以及其他活動或成就,包括但不限於:南克羅夫蒂的礦化、礦山脫水和施工要求;初步經濟評估的發展、運營和經濟結果,包括現金流、資本支出、開發成本、開採率、採礦成本估算和回報;礦產資源估算;礦產資源估算和產量的聲明礦物;礦牀的規模或質量;南克羅夫蒂項目礦山計劃的預期進展;南克羅夫蒂錫礦項目和其他康沃爾礦產的勘探潛力和項目增長機會、公司評估和開發南克羅夫蒂錫項目和其他康沃爾礦產的能力、康沃爾金屬的戰略願景以及對南克羅夫蒂礦的預期、上述項目的時機和結果。前瞻性陳述通常使用 “尋求”、“預測”、“相信”、“計劃”、“估計”、“預測”、“預期”、“潛在”、“項目”、“目標”、“時間表”、“預算” 和 “打算” 等詞語來識別,並陳述某一事件或結果 “可能”、“將”、“應該”、“可以”、“會” 或 “可能” 出現或實現以及其他類似的表述,包括其否定詞。除本新聞稿中包含的歷史事實陳述外,所有陳述均爲前瞻性陳述,涉及各種風險和不確定性,無法保證此類陳述會被證明是準確的,實際結果和未來事件可能與此類陳述中的預期存在重大差異。
Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; outcome of any future feasibility studies; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements.
前瞻性陳述存在風險和不確定性,可能導致實際結果與此類前瞻性陳述所表達或暗示的結果存在重大差異,包括但不限於:與獲得監管部門批准相關的風險、與總體經濟和市場狀況相關的風險;與融資可用性相關的風險;即將到來的工作計劃的時間和內容;擬議勘探活動的實際結果;礦產資源或品位的可能變化;任何未來可行性的結果研究;開採作業的預計日期;工廠、設備或工藝未能按預期運行;事故、勞資糾紛、所有權爭議、索賠和對保險範圍的限制以及採礦業的其他風險;國家和地方政府對採礦業務的監管、稅收規則和規章的變化。該清單並未詳盡列出可能影響康沃爾前瞻性陳述的因素。
Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.
康沃爾金屬的前瞻性陳述基於管理層的觀點和估計,反映了他們當前對未來事件和經營業績的預期,僅代表截至此類陳述發表之日。儘管公司試圖確定可能導致實際行動、事件或結果與前瞻性陳述中描述的有所不同的重要因素,但可能還有其他因素導致此類行動、事件或結果與預期存在重大差異。無法保證前瞻性陳述會被證明是準確的,因此提醒讀者不要過分依賴前瞻性陳述。因此,讀者不應過分依賴前瞻性陳述。除適用法律要求外,如果情況或管理層的信念、期望或觀點發生變化,康沃爾金屬不承擔任何更新前瞻性陳述的義務。
Caution regarding non-IFRS measures
對非國際財務報告準則指標持謹慎態度
This news release contains certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including "all-in sustaining costs". Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Cornish Metals' consolidated financial statements and Management Discussion and Analysis, available on its website and on SEDAR+ at .
本新聞稿包含採礦業中常用的某些術語或績效指標,這些術語或績效衡量標準未在《國際財務報告準則》(“IFRS”)中定義,包括 “全部維持成本”。非國際財務報告準則指標不具有《國際財務報告準則》規定的任何標準化含義,因此它們可能無法與其他公司採用的類似衡量標準相提並論。所提供的數據旨在提供更多信息,不應孤立考慮,也不得作爲根據國際財務報告準則編制的績效衡量標準的替代品,應與康沃爾金屬的合併財務報表和管理層討論與分析一起閱讀,後者可在其網站和SEDAR+上查閱。
Market Abuse Regulation (MAR) Disclosure
《市場濫用條例》(MAR)披露
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
根據歐盟第596/2014號法規第7條,本公告中包含的信息被公司視爲內幕消息,因爲根據經修訂的《2018年歐盟(退出)法》,本公告中包含的信息構成英國國內法的一部分。
1 The Company will own up to a maximum of 19.99% of the issued and outstanding common shares in the capital of Northera. The Definitive Agreement will contain terms and conditions to protect the Company's interests under the Transaction in the event a go public transaction does not occur within three years of the Agreement, or if Northera enters into a binding agreement to sell the Nickel King Property to a reporting issuer.
1 該公司將擁有Northera資本中最多19.99%的已發行和流通普通股。最終協議將包含條款和條件,以在協議簽署後的三年內沒有進行公開交易,或者Northera簽訂了具有約束力的協議,將Nickel King地產出售給申報發行人,以保護公司在交易下的利益。