Cornish Metals expects to start drilling at its United Downs site in Cornwall in late March or early April after raising £8.2M in new shares and private investment and listing on the AIM market .
The company wants to extract copper and tin from the area, which is located immediately adjacent to four former copper and tin producing mines. Meanwhile, Cornish Lithium will investigate extracting lithium from geothermal waters in the area. Cornish Metals is a 25% shareholder in Cornish Lithium, which says several exploration phases are likely to occur over the next few years before any commercial lithium extraction plants are built.
Richard Williams, chief executive of Cornish Metals, said, ”Listing on the AIM Market represents a significant milestone for the Company and offers investors from the United Kingdom the opportunity to be a part of the company’s growth as we work towards the goal of becoming a domestic supplier of technology metals fundamental to a green economy.”