Cornish Metals Secures Grant for South Crofty Tin Project Development

Cornish Metals ( (TSE:CUSN) ) has shared an update.

Cornish Metals has secured grant funding of up to £4,190,500 from the Cornwall and Isles of Scilly Good Growth Programme for its Bartles Foundry project, part of the South Crofty tin project. This funding will cover 62% of the project’s costs, facilitating the construction of necessary infrastructure as South Crofty moves towards production. The project is expected to create local employment opportunities and strengthen the domestic supply of essential minerals, aligning with the UK government’s economic growth initiatives.

Spark’s Take on TSE:CUSN Stock

According to Spark, TipRanks’ AI Analyst, TSE:CUSN is a Neutral.

Cornish Metals faces significant financial challenges typical for early-stage mining companies, including operational losses and high cash burn. However, recent successful fundraising and strategic land acquisition are positive steps towards project development. Technical indicators show mixed signals, with the stock trading below key moving averages but showing potential for momentum improvement.

To see Spark’s full report on TSE:CUSN stock, click here.

More about Cornish Metals

Cornish Metals is a dual-listed mineral exploration and development company focused on advancing the South Crofty tin project in Cornwall, United Kingdom. The company is working towards making South Crofty the only primary producer of tin in Europe or North America, with a focus on utilizing existing mine infrastructure and creating local employment opportunities. Tin is a critical mineral used in electronic devices and electrical infrastructure, and the project has strong support from local, regional, and national governments.

Average Trading Volume: 57,816

Technical Sentiment Signal: Hold

Current Market Cap: C$181.6M

See more insights into CUSN stock on TipRanks’ Stock Analysis page.