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Cornish Metals CEO resigns

Richard Williams has resigned as CEO of Cornish Metals (LON, TSX-V: CUSN). He will leave the company on March 31 but will remain available on a consulting basis going forward.

Ken Armstrong, a Non-Executive Director, will step in as Interim CEO, and Patrick Anderson, Chairman of the Board, will become the Executive Chairman of the company during the transition and search for a permanent CEO.

Armstrong served as CEO of the company’s predecessor, Strongbow Exploration, until 2015. Currently, he also holds the positions of President and CEO of North Arrow Minerals Inc. (TSX-V: NAR).

Earlier this month, Cornish announced it is accelerating work to reopen a past-producing tin mine at its South Crofty project in southwest England.

The Canadian explorer and developer stated it will expedite plans to refurbish the New Cook’s Kitchen (NCK) shaft at South Crofty after an assessment revealed the deteriorating condition of its timbers, necessitating immediate action.

The Vancouver-based company expects the process of dewatering the mine to be completed by the third quarter of 2025.

South Crofty could produce up to 5,000 tonnes of tin annually, with initial production projected for 2026.

The company anticipates the mine will create up to 270 direct jobs and support an additional 750 in the region, one of the UK’s most underprivileged areas.

Shares of Cornish Metals rose 3.2% by 11:42 p.m. EDT. The miner has a market capitalization of C$85.6 million ($63.2 million).

Source: MINING.COM – Read More