Donât quote me on this but I saw 60,000t a year mentioned. I also have zero confidence in the government but thought it was worth a small punt with EIS.
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Previous issue with state aid were also restricted by EU state aid rules. The whole state aid thing is up in the air at the moment. Frankly if you believe the company would need state aid, perhaps itâs not a good investment?
Totally missed this as Iâm working away. Didnât expect that overfunding by any stretch. I suppose Iâll have to wait for more rounds or buy when they list publicly
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Did other investors get todayâs update email straight from Cornish Lithium?
I was disappointed to see how heavy it was on convention mining from rocks. It was the combined âgeothermal power plants/lithium extraction from the watersâ that got me excited when I invested my small amount. Hopefully this is just baby steps towards that?
I did, but the DLE pilot plant is at the United Downs Deep Geothermal Power Project which is about 20 miles down the road from Trelavour which is where this is. If you look at the satellite geography of the area its already pretty heavily mined and it looks like they are prospecting at one of the used pits first.
From Lepidicoâs website
- Conventional: L-MaxÂŽ utilises common use, inexpensive reagents, is energy efficient and utilises conventional equipment operated at atmospheric pressure and modest temperature
- By-products: include potassium sulphate fertiliser (SOP), amorphous silica and potentially tantalum, tin, caesium and rubidium
- Sustainable: steam is the only material L-MaxÂŽ emission and the process residue is being evaluated as an environmental remediation product
LOH-MaxTM provides an elegant solution to produce lithium hydroxide â which currently attracts a premium price compared with lithium carbonate and is in strong demand â from lithium sulphate, using conventional industrial equipment and without the production of sodium sulphate.
A risk assessment for Lepidicoâs Phase 1 Plant identified sodium sulphate as a material exposure should demand growth remain stagnant and global production materially increase, thereby necessitating a disposal method be found. This led Lepidico to seek alternative process routes to making lithium chemicals from the L-MaxÂŽ intermediate, lithium sulphate.
Not sure what to think about some of our funds being used to buy a 2% stake in some Australian penny stock though, and at an elevated price as well.
Looks like a company in America is doing the same thing.
The company expects to make even more by extracting minerals. After Controlled Thermal Resources pumps up hot brine to generate electricity, it will extract lithium, absorbing the mineral like a sponge using a chemical process developed by a startup, Lilac Solutions, backed by Bill Gatesâ Breakthrough Energy Ventures. The water is pumped back underground into the same reservoir. Demand for lithium, critical for electric car batteries, is expected to grow 10-fold by 2030.
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Itâs all kicking off in Cornwall (nothing in this story about Cornish Lithium though)
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Theyâre thinking of crowdfunding again. This just arrived in an emailâŚ
Cornish Lithium is working towards establishing a domestic supply of lithium, creating an EV âbattery hubâ in the UK, an exciting and vital step in the transformation of the UKâs automotive sector as it transitions towards the production of electric vehicles, and securing a greener future for the nation. As a result, our company is attracting a lot of attention as evidenced by last weekâs coverage on Sky News. We expect that this interest will only get stronger as we head into the G7 conference to be held in Cornwall at the start of June.
The UK Government highlighted the importance of such work in the recently published Integrated Review of Security, Defence, Development and Foreign Policy which specifically mentioned the need for âdomestic extraction and processing of critical minerals, such as lithium.â This new industry will support the development of battery manufacturing in the UK through the provision of raw materials as the domestic automotive sector transitions to the production of electric vehicles, and we are playing a leading role in this.
Work by Cornish Lithium to date has confirmed âglobally significantâ lithium grades in geothermal waters in Cornwall. Government and shareholder funding has hastened the Companyâs progress towards the goal of environmentally responsible lithium production.
We are the delighted with the momentum we have built and we have made significant progress since our last fundraise, so Iâm excited to announce we are considering another fundraise on Crowdcube offering people the chance to invest in Cornish Lithium. Our fundraise in September 2020 was heavily oversubscribed with over 3,700 people investing through the Crowdcube platform. Over 900 people missed the opportunity as we hit our upper ÂŁ5.2m limit inside three days, so this potential next raise would give those who missed out last time another chance to invest, alongside hopefully welcoming further support from our existing shareholders.
Since our last crowdfund we have achieved some significant milestones:
- Commenced construction of the government funded lithium extraction pilot plant at the United Downs Deep Geothermal Project
- Granted exploration rights by The Crown Estate to explore for lithium in geothermal waters in four areas off the Cornish coast
- Acquired a lithium extraction technology licence from Lepidico, to enable low carbon lithium extraction at the hard rock lithium Trelavour Project
- Successfully produced lithium carbonate and lithium hydroxide at lab scale
- Obtained funding from the Automotive Transformation Fund to progress a demonstration extraction plant at the Trelavour Project
- Commenced a second drilling campaign at Trelavour to establish a maiden resource
- Employed or otherwise engaged another 12 employees and consultants, bringing our team to 30
We are also excited to announce that we have published a new corporate update video on our website, which can be viewed here.
As we are contemplating a new crowdfunding campaign on Crowdcube, I wanted to invite you to register any interest that you may have in participating in the next potential crowdfunding. Following such registration, you would be the first to receive a notification in the event that we do launch a new crowdfunding campaign and avoid disappointment of missing out on the potential investment opportunity.
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I think cornish lithium will do well 
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I wanted to draw your attention to the excellent coverage Cornish Lithium received on Channel 4 News on Wednesday 19 June. In the report Channel 4 Newsâ Chief Correspondent, Alex Thomson, put forward the case for how Cornwallâs lithium resources could fuel the UKâs green industrial revolution. In case you missed it we have included a link to the news report below.
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Thu, 27 May 2021
11:45 â 12:30 BST
hear why Cornwall, already a powerhouse for green innovation, is the ideal place to host this yearâs G7 Summit
Cornish Lithium completes the construction of Geothermal Water Test Site to trial Direct Lithium Extraction technologies
Progress towards a maiden Resource at the Trelavour Project
Cornish Lithium, the pioneering mineral exploration and development company headquartered in Cornwall, is pleased to announce that it has successfully completed the construction of its United Downs Geothermal Water Test Site in Cornwall and installed its first demonstration plant to trial environmentally-responsible Direct Lithium Extraction (âDLEâ) process technologies. Cornish Lithium has also made significant progress towards defining its maiden Resource estimate at its lithium in hard rock Trelavour Project.
Highlights
- Successfully completed the construction of the United Downs Geothermal Water Test Site
- First demonstration plants installed
- Facility designed to establish which DLE technologies are most suited to low-carbon extraction of lithium from Cornish geothermal waters
- Second hard rock drilling campaign is now complete at the Trelavour Project
- Will enable the Company to publish its maiden Resource to define the projectâs potential scale in autumn 2021
- Demonstration mineral concentrator plant has been constructed
- Test work to optimise the extraction of lithium from mica minerals underway with Grinding Solutions Ltd.
Jeremy Wrathall, CEO and Founder of Cornish Lithium, said:
âOur lithium in geothermal waters test site at United Downs provides us with an opportunity to demonstrate what modern, low-carbon mineral extraction looks like, and the results will inform the development of the larger pilot plant that we intend to construct by the end of March next year.
âAs world leaders gather in Cornwall for the G7 summit to take collective action towards securing a green and global economic recovery, and with the news that Nissan is considering constructing a battery gigafactory in the North East, the timing could not be better for Cornish Lithium to play a significant role in establishing a crucial domestic supply chain for the EV industry. This will not only boost the regional and national economy as the UK transitions to net zero-carbon, it will also position Cornwall at the heart of the green industrial revolution, continuing a proud 4,000-year history of mineral extraction and innovation. â
United Downs Geothermal Water Test Site
Cornish Lithium has completed the construction of the Geothermal Water Test Site at United Downs. The site is a test facility designed to trial a number of DLE technologies on both deep (delivered by GeoCubed in collaboration with Geothermal Engineering Ltd (âGELâ)) and shallow geothermal waters (from Cornish Lithiumâs research boreholes). The test work is designed to establish which of these highly selective technologies is most suited to low-carbon extraction of lithium from Cornish geothermal waters. Facilities at the test site include:
- DLE technology demonstration plants
- Borehole pumping infrastructure
- Demonstration lithium extraction circuit
- A visitor centre and offices for the project team
- A core shed housing the 2,000 metres of drilling core recovered to date
- Bulk fluid storage for the geothermal water samples collected for testing
- Field laboratory for initial analysis of samples
The technology providers Cornish Lithium has initially selected to demonstrate low-carbon DLE technologies from Cornish geothermal waters are Geolith and Precision Periodic.
Geolith specialises in delivering sustainable lithium extraction solutions. Geolithâs technology utilises microfiber-based materials with selective absorption properties, which will act as a âfilterâ to selectively capture lithium or unwanted contaminants. The Geolith demonstration plant is expected to be in operation for three weeks from Wednesday 9 June 2021.
Precision Periodicâs proprietary Nano Beads⢠filtration media is designed to extract and concentrate lithium ions without the need for pretreatment, heat, or pressure. The process is expected to generate zero waste and the geothermal waters can be returned to the source (once just the lithium ions have been extracted) or filtered with additional Nano Beads that will clean the geothermal waters of other elements that could potentially produce water for other applications such as farming. The system is designed to be highly scalable and requires very little energy. Their low-carbon, small footprint is ideal for locating processing equipment at each individual site.
Trelavour Project
At the Trelavour Project, in the St Austell region of Cornwall, Cornish Lithiumâs second drilling campaign has just been completed. The results will enable the Company to publish its maiden Resource estimate on the project in autumn 2021, which will define the potential scale of the project.
In addition, test work is being conducted to optimise the extraction of lithium from mica minerals in the granite. A demonstration mineral concentrator plant has been constructed by Grinding Solutions Ltd, a Cornish mineral processing consultancy and laboratory, which is currently being used to refine the plant design that Cornish Lithium intends to use on lithium bearing granites extracted from the Trelavour Project. The test work by Grinding Solutions will involve processing approximately 30 tonnes of granite to produce a mica mineral concentrate.
In December 2020, Cornish Lithium acquired an exclusive licence over the St Austell granite to utilise Lepidico Ltdâs (an ASX listed a global lithium exploration and development company) environmentally-responsible extraction technology. The Company expects to produce battery-grade lithium chemicals from the mica concentrate utilising this process technology.
The results of this work will inform the projectâs scoping study, which is being partly funded through a grant awarded in April 2021 by the Governmentâs Automotive Transformation Fund.
For more information about Cornish Lithium, visit cornishlithium.com
Best regards,
Derek Linfield
Chairman
Cornish Lithium
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Cornish Lithium Ltd (âthe Companyâ or âCornish Lithiumâ), the mineral exploration and development company based in Cornwall, UK, is delighted to announce the formation of a consortium involving Cornish Lithium, Imerys Minerals Limited (âImerysâ) and sustainable manufacturing innovation consultancy, HSSMI to assess the potential for Co-production of Lithium and China Clay (âKaolinâ) in Cornwall (the âCLiCCC Projectâ or âthe Projectâ). The Project will assess the potential to produce lithium from waste material produced from both current and historic kaolin operations. Cornish Lithium will be the lead partner for the ÂŁ1 million CLiCCC Project, which will benefit from Innovate UKâs funding.
The CLiCCC Project consortium aims to evaluate the economic viability of extracting lithium from minerals that occur in the same rock as kaolin. This could increase the resource efficiency of the mined rock, with the double benefit of making the Cornish kaolin industry even more competitive in international markets, as well as contributing to securing a domestic supply of lithium that is vital to the UKâs transition to renewable energy and a zero-carbon economy.
The fact that the British automotive industry will switch to electric vehicle production from 2030 will necessitate the construction of battery factories in the UK and the development of associated raw material supply chains, including the manufacture of lithium battery chemicals.
Kaolin was first discovered in Cornwall in 1746. Since then, Imerys developed to become one of the worldâs largest producers of kaolin. Today, Imerys employs more than 750 people in mid-Cornwall, 1100 people in the United Kingdom and contributes over ÂŁ220 million sales per year to the British economy. Imerys supplies, from its Cornish mining and industrial footprint, a large number of growing applications worldwide such as paints, coatings, plastics, ceramics, rubber, pharmaceuticals or cosmetics.
Kaolin in Cornwall is largely sourced from decomposed granite, a rock that has also been shown to contain lithium minerals in the form of lithium mica. The lithium potential of the kaolin region in Cornwall was outlined in a British Geological Survey report of 1987, but at that time there was no economic imperative for such a source to be commercially exploited.
Jeremy Wrathall, Founder and CEO of Cornish Lithium, said : âHaving identified the opportunity for the Co-production of lithium and kaolin, Cornish Lithium is ideally placed to evaluate the opportunity to build a lithium raw material supply chain in Cornwall. We look forward to collaborating with Imerys and HSSMI on this exciting project. The Project enables us to collaborate with Imerys and we look forward to benefiting from HSSMIâs expertise in the circular economy. This ÂŁ1 million project, funded by a grant from Innovate UK, demonstrates the strategic importance of the CLiCCC Project to the UK economy as we seek to establish a robust, domestic source of lithium to support the UKâs energy transition.â
Steve Double, MP for St Austell and Newquay, said: âThe award of funding to Cornish Lithium, Imerys and HSSMI from Innovate UK for the Co-production of Lithium and China Clay in Cornwall Project is great news. Seeing our kaolin industry opening up to the new and emerging lithium extraction business will create new hi-tech and well-paid jobs, and drive economic growth for Cornwall for our and future generations. This is a huge opportunity for Cornwall and I am delighted to see it recognised and allowed to grow with this funding award.ââŚ
Missed the last crowdfunding but will be following this closely.
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They just raised ÂŁ6m in less than an hour and have closed the round.
Post money valuation is now ÂŁ88,157,430, with a share price of 16p, so a roughly 80% uplift on last round.
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I canât help but feel they âdid the crowdfunding thingâ of setting the target well below what they actually wanted to raise so that they could then rave about how itâs reached 500% of its target.
I invested ÂŁ100 in the first raise and have been wary about it ever since. I skipped this one but I hope the company does well. As Iâve said before, the industrial strategy of governments in this country since well before I was born (mid 1980s) has been utter garbage so I think the odds are against them.
Most of the fundraising occurred before this morning as it had been open to investors looking to invest over âŹ100,000. At 9:00am, when minimum investment amount was removed, I think it wasalready nearly at 500%.
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I suppose itâs good news that people are so keen to invest in CL but it was all done and dusted in the blink of an eyelid!
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A great video and good to see whatâs going on behind the scenes at Cornish Lithium. I love that YouTube channel and that presenter.
That said, there could be 99% of the worldâs total lithium there and Iâd still expect the current ruling party to strangle any UK based initative to get it out of the ground in favour of letting an overseas, bigger, more powerful, wealthier company (wtih bigger bribing lobbying power and cushy directorship/adviser positions for former MPs) come in and take it over from Cornish Lithium.
I want Cornish Lithium to succeed (with my ÂŁ100 R1 investment) but I think we can all remember what happened to Sirius Minerals in Yorkshire? 
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