Cornish Metals offloads Canadian royalty interests

5th Aug 2024 11:47

(Sharecast News) - Cornish Metals announced the successful sale of its royalty interests on the Mactung and Cantung tungsten projects in Northern Canada on Monday, to Elemental Altus Royalties.

The AIM-traded firm said the total cash consideration for the sale was $4.5m, with the company having already received an initial payment of $3m.

It said the remaining balance of $1.5m was expected by 1 August.

Cornish Metals said it was continuing to focus on advancing its wholly-owned South Crofty tin project in Cornwall.

At 1109 BST, shares in Cornish Metals were up 0.36% at 5.52p.

Reporting by Josh White for Sharecast.com.