By Christian Moess Laursen
Shares in Cornish Metals jumped 19% after the company said metallurgical test results exceeded expectations at its South Crofty tin project in Cornwall, England and that it expects lower project costs as a result.
At 0738 GMT, shares were up 1.25 pence at 10.75 pence.
The Canadian mineral exploration and development company said Monday that the tests confirmed the upgrading potential of the project’s mineralization, while materially lowering costs and environmental footprint.
“We expect this result will have a positive effect on the project economics, allowing for lower power consumption and a smaller process plant and therefore lower capital and operating costs,” Chief Executive Richard Williams said.
The company also said the project’s feasibility study is progressing on schedule.
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