11:35 AM EDT, 10/16/2024 (MT Newswires) -- Cornish Metals ( SBWFF ) on Wednesday said it has entered into a non-dilutive secured credit facility of 7-million British pounds with Vision Blue Resources to develop its South Crofty tin project in Cornwall, U.K.

The proceeds of the facility will be used for the company's general operating and corporate purposes.

"We plan to generate value by unlocking the project's potential as a long-term supplier of tin needed for electrical applications in the UK and Europe," Cornish Metals ( SBWFF ) chief executive Don Turvey said.

Vision Blue has a 25.95% stake in Cornish Metals ( SBWFF ).

Cornish Metals ( SBWFF ) shares were last seen up $0.005 to $0.13 on the TSX Venture Exchange.

Price: 0.13, Change: +0.01, Percent Change: +4.00