Cornish Metals - Samantha Hoe-Richardson Joins the Board of Directors
January 09 2024 - 2:00AM
Cornish Metals Inc. (
AIM/TSX-V:
CUSN) (“Cornish Metals” or the “Company”), a mineral
exploration and development company focused on advancing the South
Crofty tin project (“South Crofty” or the “Project”) located in
Cornwall, United Kingdom, to a production decision, is pleased to
announce that Samantha Hoe-Richardson has joined the Board of
Directors as Independent Non-Executive Director, effective
immediately.
Samantha is an experienced non-executive
director from a global mining, infrastructure and insurance
background. She is currently a non-executive director of Kew Soda
Ltd, Assured Guaranty UK Ltd, Ascot Underwriting Limited, 3i
Infrastructure plc and Independent Group Advisor on Climate Change
& Sustainability to Laing O’Rourke. Samantha was Head of
Environment & Sustainable Development at Network Rail until
2017 and prior to that spent 16 years at Anglo American plc,
latterly as Head of Environment. She previously worked in
investment banking and audit. Samantha holds a Masters Degree in
nuclear and electrical engineering from the University of
Cambridge, and is also a qualified Chartered Accountant.
Patrick Anderson, Chair of Cornish
Metals, stated: “On behalf of the Board of Directors, I
welcome Samantha to the Cornish Metals team as we embark on another
exciting and critical year on the path to get South Crofty back up
and running. Samantha’s experience in both Sustainability / ESG and
Finance will be a great addition to the Board’s skill set and we
look forward to her contributions as the Company grows.”
The following disclosures are required regarding
Samantha Hoe-Richardson's appointment pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies (the "AIM Rules").
Samantha Jane
Hoe-Richardson
Samantha Jane Hoe-Richardson (aged 52) is
currently, or has during the past five years been, a director of
the following companies:
Current directorships and/or partnerships: |
Former directorships and/or partnerships (within the last
five years): |
Ascot Underwriting LimitedKew Soda LtdAssured Guaranty UK Limited3i
Infrastructure plcCrayfen Limited |
Lancashire Insurance Company UK LtdLancashire Holdings LimitedRoyal
School of Needlework (The)RSN Enterprises LimitedUnum LimitedUnum
European Holding Company Limited |
Ms Hoe-Richardson does not currently hold any
shares in the Company.
ABOUT CORNISH METALS
Cornish Metals is a dual-listed 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, all 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 has
the 4th highest grade tin Mineral Resource globally and benefits
from existing mine infrastructure including multiple shafts that
can be used for future operations;
- Tin is a
Critical Mineral as defined by the UK, USA, and Canadian
governments, with approximately two-thirds of the tin mined today
coming from China, Myanmar and Indonesia;
- There is no
primary tin production in Europe or North America;
- Tin is an
enabler of 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 and regional and national
government support.
- Cornish Metals
has a growing team of skilled people, local to Cornwall, and the
Project could generate 250 – 300 direct jobs.
An updated Mineral Resource was completed in
September 2023 with a 39% increase in tonnes and 32% increase in
contained tin in the Indicated category for the Lower Mine (see
news release dated September 13, 2023) as summarised below:
South Crofty Summary (JORC 2012) Mineral Resource
Estimate |
Area |
Classification |
Mass(kt) |
Grade |
Contained Tin / Tin Equivalent
(kt) |
Lower Mine |
Indicated |
2,896 |
1.50% Sn |
43.6 |
Inferred |
2,626 |
1.42% Sn |
37.4 |
Upper Mine |
Indicated |
260 |
0.99% SnEq |
2.6 |
Inferred |
465 |
0.91% SnEq |
4.2 |
The Mineral Resource Estimate for South Crofty
is available in a report titled “South Crofty Tin Project - Mineral
Resource Update NI 43-101 Technical Report”, dated October 27,
2023, co-authored by Mr. N. Szebor (MCSM, MSc, BSc, CGeol, EurGeol,
FGS) and Mr. R. Chesher (FAusIMM(CP), RPEQ, MTMS) of AMC
Consultants, and can be accessed through the above link and on the
Company’s SEDAR+ page.
TECHNICAL INFORMATION
The technical information in this news release
has been compiled by Mr. Owen Mihalop who has reviewed and takes
responsibility for the data and geological interpretation. Mr. Owen
Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is Chief
Operating Officer for Cornish Metals Inc. and has sufficient
experience relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined under the
JORC Code (2012) and as a Qualified Person under NI 43-101. 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.
ON BEHALF OF THE BOARD OF
DIRECTORS
“Richard D. Williams”Richard D. Williams,
P.Geo
For additional information please contact:
Cornish Metals |
Fawzi HananoIrene 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 |
|
|
|
Hannam & Partners(Joint
Broker) |
Matthew HassonAndrew 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.comTel: +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.
Market Abuse Regulation (MAR)
Disclosure
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.
Caution regarding forward looking
statements
This news release contains "forward-looking
statements". Forward-looking statements, while based on
management's best estimates and assumptions at the time such
statements are made, 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 COVID-19 global pandemic and any variants of
COVID-19 which may arise; 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 the current
Feasibility Study; 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.
Although Cornish Metals has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Cornish Metals undertakes
no obligation or responsibility to update forward-looking
statements, except as required by law.
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