Mining News – Late June 2024
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A South West mining company has struck a £5m deal to sell off a business in Canada.
Cornish Metals says it has agreed the deal as part of its strategy to concentrate its efforts on operations in South Crofty.
The AIM listed firm has entered into a binding letter of intent with Northera Resources for the sale of the company’s 100% interest in the Nickel King and Opescal Lake properties for a total consideration of eight million Canadian dollars.
Ken Armstrong, Interim chief executive and director of Cornish Metals said: “The sale of Nickel King aligns with Cornish Metals’ objective to focus its efforts on advancing its 100% owned and fully permitted South Crofty tin project, in the UK, towards a construction decision.
