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Status: Active

Oct 13th 2020 - Oct 16th 2020

Cornish Lithium (CL) is a mineral exploration company engaged in the discovery of lithium and other battery metals in Cornwall. It intends to create a 'Battery Metals Hub' in the UK through its efforts. CL has received funding to build the first European Union (EU) pilot lithium extraction plant powered by geothermal waters. It asserts that some of the world's highest grades of lithium are found in geothermal waters. The company has also secured UK Government funding for a new lithium extraction pilot plant in Cornwall. CL has drilled 41 shallow boreholes in a former china clay pit near St Austell, demonstrating the potential to extract lithium from granite. The company will use the investment to accelerate the company towards commercial production of lithium.

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Cornish Lithium Rating Review

Pitch rating powered by CROWDRATING

Rated on 15/10/2020

Pitch Rated

53%

Insufficient Data

Management

77%

Product

81%

Investment

UNRATED*

* Section unrated owing to insufficient or incomplete information available at the time of rating.

  • £5,199,999
    pledged
  • 346%
    of goal

    £1,500,000
    target

    £40,019,662
    pre-money valuation

    3.61%
    equity available

    3,772
    investors

    £1,379
    pledge per investor

    10205021
    company number

    Active
    company status

    28/05/2016
    incorporated 5 years

    £0.09
    share price

    Previous Funding rounds
    13 Oct 20 Crowdcube £5,199,999 / 347% 52.67%
    12 Jul 19 Crowdcube £1,430,640 / 143%

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating

RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.

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Management 77%

Skills 82%
Cornish Lithium has a highly experienced team using modern techniques to evaluate the potential for the environmentally responsible production of lithium and battery metals. The team has assembled historical and contemporary data to build an extensive understanding of the sub-surface geology and mineral ownership of Cornwall. The Founder/CEO is a mining engineer by profession and has expertise in Metals and Mining Investment Banking. He is a Fellow of the Institute of Materials, Minerals and Mining. The Chairman & Director is a legal consultant and serves as a non-executive director on several boards. He mainly focuses on cross-border financings and M&A in the mining and oil & gas sectors, including taking companies to the London Stock Exchange. Two non-executive directors support them, and one of the NED has a masters degree in mining geology from the Camborne School of Mines Louise and is currently responsible for investor relations at AIM-listed Central Asia Metals. Another NED is an experienced metallurgical engineer and resource company director. He has several international patents in his name and is the author of over 20 technical and industry review papers. The Head of Exploration has extensive knowledge of the geology of Cornwall, and he plays a leading role in the assembly of data in the company's Geographical Information System (GIS). The Senior Geologist (Business Development) has a background in grassroots exploration. Her role is to foster collaboration with other industry and academic partners to accelerate the exploration programme and test new concepts. It was noted that its chartered accountants manage the company's accounts and finance. They provide them with accountancy support with monthly management accounts and VAT returns.

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  • £5,199,999
    pledged
  • 346%
    of goal

    £1,500,000
    target

    £40,019,662
    pre-money valuation

    3.61%
    equity available

    3,772
    investors

    £1,379
    pledge per investor

    10205021
    company number

    Active
    company status

    28/05/2016
    incorporated 5 years

    £0.09
    share price

    Previous Funding rounds
    13 Oct 20 Crowdcube £5,199,999 / 347% 52.67%
    12 Jul 19 Crowdcube £1,430,640 / 143%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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