Cornish Tin invites new investment through Crowdcube ahead of upcoming drill campaign at Great Wheal Vor
Summary
These trustees then proceeded merrily to high-grade the mine without permission, and at great speed as they knew full well the time they had to get the richest ore out was limited.They took what they could grab with a deadline, knowing that they would lose the case, says Norcross-Webb.The ownership rights of the project were then broken up, and its remained unmined ever since.In fact, it took someone with the local knowledge, patience, and legal expertise of Norcross-Webb to put the whole thing back together again. Shes been living down in Cornwall now for the better part of a decade working independently within the mining sector and, since 2017, slowly putting the Great Wheal Vor project back onto a viable footing.Nobodys been able to take it forward till now, she says.Nobody was able to put together the right blocks and mineral rights.Cornish Tin now has planning consent from Cornwall County Council for a phase one drilling programme, and the time has come to work out how the company is going to be funded going forward.Up to this point Norcross-Webb has funded the project herself, in conjunction more recently with about 35 other investors, some of whom are well-known in the mining sector, and who together put \xa31.9mln in before Christmas. The level of enthusiasm for the project from the professionals has been highly encouraging, but its not all about that.Norcross-Webb has a strong desire to give something back to Cornwall, and so with one eye also on ESG, shes opening up a new round of funding to locals, or those with a local interest, and inviting further investment through a crowdfunding platform that can be accessed through Cornish Tins website - here.The next phase will certainly be interesting.The plan is to drill 33 holes on 26 sites where mineralisation is already known.Theres quite evidently a great deal of tin left in the ground, says Norcross-Webb.You can see it in the longitudinal sections.The question, though, is how much? and thats what the imminent campaign is all about.The idea is to maximise value through a drill programme, Norcross-Webb adds, straightforwardly enough.I wouldnt like to speculate about what happens after that, its dependent on results.Results primarily, that is, but also the tin price, and the attitude of the UK government. The government has practically been falling over itself to get some sort of meaningful mining industry started up again in Cornwall, and is especially keen now that the supply chains for various critical minerals are coming under much closer scrutiny.Its for that reason too, amongst others, that the tin price has been performing well of late, soaring away as the global economy opened up after covid, and hitting multi-decade highs.The fundamentals are particularly strong, because tin is going to be a crucial component in the greening of the global economy, as a study by MIT highlighted a few years ago.