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Cornish Metals (TSX-V, AIM: CUSN) announced on Tuesday that its South Crofty tin project in Cornwall, UK, has an after-tax net present value (NPV6) of £180 million ($235 million) and an internal rate of return of 20%. The project aims to produce 49,168 tonnes of tin over a 14-year mine life, with an average annual output of approximately 4,700 tonnes.
The updated Preliminary Economic Assessment (PEA) estimates a payback period of 3.3 years and cumulative after-tax cash flow of £558 million ($750 million). Pre-production capital is projected at £198 million, with sustaining capital at £43 million and all-in sustaining costs around $13,400 per tonne. The first production is targeted for mid-2028, following a £57 million fundraise.
The South Crofty project, which will operate on 100% renewable electricity, is expected to create over 300 direct jobs and about 1,000 indirect jobs, aiding in UK supply chain security and sustainable practices.
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