01:19 PM EST, 02/07/2025 (MT Newswires) -- Cornish Metals ( SBWFF ) Friday said its closed the initial tranche of a private placement of shares, raising 10.7-million British pounds.

The company said it placed 133.82-million shares in the tranche.

Proceeds will be used to ensure to complete the shaft refurbishment and de-watering process, early project works, and long lead items ahead of a formal final investment decision at its South Crofty tin mine.

The company's shares were last seen up $0.005 to $0.15 on the TSX Venture Exchange.

Price: 0.15, Change: +0.01, Percent Change: +3.45