15 Aug Cornish Lithium prospectors get backing from heavy-hitting trio
BRITISH miner Cornish Lithium yesterday secured £lm of funding that will allow it to kick-off exploration for the strategic mineral.
Lithium is a key component of batteries that power everything from laptops to electric cars.
In January, Cornish Lithium reached a mineral rights agreement with Canada’s Strongbow Exploration. At the time, it said it would need £5m to extract
underground stores of lithium from hot springs.
But the firm’s chief executive, Jeremy Wrathall, has subsequently told Reuters that project costs would likely be cheaper and the Elm will be enough for Cornish Lithium to operate for a year.
Yesterday’s investment comes from a trio of experienced miners: former Aquarius Platinum head Keith Liddell, Southern Prospecting director Chris von Christierson and Norwegian billionaire Peter Smedvig.