- Cornish Metals (CUSN) has sold a 1 per cent net smelter return (NSR) royalty on the Sleitat tin-silver project, located in Alaska
- Cornish Metals made the sale to Electric Royalties Ltd (ELEC) in return for $100,000 cash and 1,000,000 common shares of Electric
- Cornish Metals a mineral exploration and development company
- Cornish Metals Inc. opened trading at $0.44
Cornish Metals (CUSN) has sold a 1 per cent net smelter return (NSR) royalty on the Sleitat tin-silver project to Electric Royalties Ltd.
The Sleitat project is located in Alaska.
Cornish Metals received $100,000 cash and 1,000,000 common shares of Electric Royalties Ltd.
The shares will be subject to a voluntary lockup agreement whereby 50 per cent of the consideration shares will be subject to a six-month hold period and the balance subject to a one-year hold period.
Cornish Metals is a mineral exploration and development company. It completed the acquisition of the South Crofty tin and United Downs copper/tin projects, plus additional mineral rights located in Cornwall, UK, in July 2016.
The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.
The South Crofty project covers the former producing South Crofty tin mine located beneath the towns of Pool and Camborne, Cornwall. The South Crofty mine closed in 1998, following over 400 years of continuous production.
Cornish Metals Inc. opened trading at $0.44.
