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Cornish Metals (TIN) investor relations material
Cornish Metals Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed £57.4m fundraise in March 2025, anchored by National Wealth Fund and Vision Blue Resources.
Re-domiciled to the UK, aligning structure and governance with operational focus.
Advanced South Crofty project with significant progress in dewatering, shaft refurbishment, and surface works.
Published updated PEA confirming robust project economics and long mine life.
Strengthened leadership, expanded workforce to ~100, and published first Sustainability Report.
Financial highlights
Loss after tax of £7.9m for 2025, up from £0.7m in 2024, mainly due to increased operating expenses and one-off reorganisation costs.
Operating expenses rose by £3.4m, including £1.8m for corporate reorganisation.
Cash balance at year-end was £22.7m, up from £5.3m in 2024.
Invested £21.8m in mining assets at South Crofty, total investment now £66.2m.
No debt at year-end; prior loan repaid from fundraise proceeds.
Outlook and guidance
2026 will focus on securing project financing and making a final investment decision.
Near-term objectives include further dewatering, shaft refurbishment, and advancing underground development.
Continued emphasis on disciplined capital deployment and risk reduction.
- South Crofty offers robust economics, top-grade tin, and strong growth potential for UK supply.TIN
Corporate presentation25 Mar 2026 - South Crofty PEA confirms robust economics; loss widens, and further funding needed in 2024.TIN
Q2 202425 Mar 2026 - Profit achieved on royalty sales; South Crofty advances, but more funding needed by March 2025.TIN
Q3 202425 Mar 2026 - Strong funding and asset sales support South Crofty’s progress toward production in 2025.TIN
Q4 202425 Mar 2026 - £57.4 million fundraise secures South Crofty’s advancement, with cash rising to $89 million.TIN
Q1 202525 Mar 2026 - £57.4 million fundraise boosts cash and accelerates South Crofty tin project development.TIN
Q2 202525 Mar 2026 - South Crofty project advances with robust funding, profit turnaround, and UK re-domiciliation.TIN
Q3 202525 Mar 2026
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