# Unaudited interim results for the six months ended 30 June 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/unaudited-interim-results-for-the-six-months-ended-30-june-2026--db005211-da53-464a-b308-2041446a6e9f Original source: https://www.londonstockexchange.com/news-article/TIN/unaudited-interim-results-for-the-six-months-ended-30-june-2026/17802447 Publisher: lse Original announcement: 2026-09-24T05:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-24T07:03:41.980Z Atlas analysis updated: 2026-09-24T07:03:41.980Z - Company: Cornish Metals plc - Ticker: TIN - Exchange: LSE - Region: Cornwall, United Kingdom - Primary commodity: Tin - Secondary commodities: None reported - Document categories: Drill results, Capital raise, Other - Extracted: 2026-09-24 07:03:42 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Cornish Metals plc reported its unaudited interim results for the six months ended 30 June 2026, highlighting significant progress in securing project financing for its South Crofty tin project, including a US$210 million senior secured bond and £52 million in debt facilities. Operational milestones such as mine dewatering and process plant engineering are advancing, and post-period drill results from Roskear West extended tin mineralization. Despite an increased loss for the period and a material uncertainty regarding a required equity raise to release bond funds, the company is progressing towards tin concentrate production in mid-2028. Reasoning: Cornish Metals has secured substantial debt financing for its South Crofty tin project, with operational progress on dewatering and engineering. Post-period drill results are positive, extending tin mineralization. However, the company faces increased losses and a critical need for an equity raise to unlock bond proceeds, highlighting financial risks typical of a development-stage mining company. - Positive factor: Significant project financing secured - Positive factor: Operational progress on mine dewatering and engineering - Positive factor: Positive exploration drill results extending mineralization - Positive factor: Strong tin prices - Negative factor: Increased loss for the period - Negative factor: Net current liabilities position - Negative factor: Material uncertainty regarding required equity raise to release bond proceeds - Negative factor: Dependence on continued support from major shareholders Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 4 ## Classification and evidence **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The release reports assay results but does not disclose QA/QC procedures, lab certification, or QP/CP sign-off for these specific results. Evidence · text > Assay results from the first Roskear West drillhole reported on 9 July 2026, including 0.79 metres at 4.18% Sn and a 12.41 metre zone grading 0.43% Sn, with several intercepts lying outside the current Mineral Resource Estimate **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The reported drill intercepts are given as downhole widths without any mention of true width or drill orientation. Evidence · text > Results included 0.79 metres at 4.18% Sn in Roskear 1 South, 0.30 metres at 2.20% Sn in Roskear 3 North, and a 12.41 metre zone grading 0.43% Sn in the Roskear Numbered Zone, including 1.90 metres at 1.32% Sn. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling program is designed to test the western extension of the Roskear lodes, and several intercepts lie outside the current Mineral Resource Estimate, with mineralization remaining open to the west. Evidence · text > targeting the western extension of the Roskear lodes, to seek to extend the Inferred Mineral Resource in that area, and to evaluate priority targets identified through historic drilling and recent geological interpretation. ... Mineralisation remains open to the west. ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Drill Results (4) ### SDD26\_001A [Link to this fact](https://atlas-staging.minestarters.com/news/unaudited-interim-results-for-the-six-months-ended-30-june-2026--db005211-da53-464a-b308-2041446a6e9f#fact-drill-facts-0) South Crofty · tin #### Identity - Hole ID: SDD26\_001A - Project: South Crofty - Commodity: tin - Region: cornwall, united kingdom - Reported Region: cornwall, united kingdom - Ticker: TIN #### Geometry - Grade: 4.18 - Grade Unit: % - Intercept: 0.79 m #### Classification - Program: exploration - Sample Type: drill - Mining Method: underground #### Location - Location: Roskear 1 South - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: An exceptional grade tin intercept from a new exploration drillhole, extending mineralization in the Roskear 1 South structure, but reported as apparent width only with no QA/QC disclosure. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Negative factor: Apparent Width Only - Negative factor: No QA/QC Disclosure Evidence · text > 0.79 metres at 4.18% Sn in Roskear 1 South #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### SDD26\_001A [Link to this fact](https://atlas-staging.minestarters.com/news/unaudited-interim-results-for-the-six-months-ended-30-june-2026--db005211-da53-464a-b308-2041446a6e9f#fact-drill-facts-1) South Crofty · tin #### Identity - Hole ID: SDD26\_001A - Project: South Crofty - Commodity: tin - Region: cornwall, united kingdom - Reported Region: cornwall, united kingdom - Ticker: TIN #### Geometry - Grade: 2.2 - Grade Unit: % - Intercept: 0.3 m #### Classification - Program: exploration - Sample Type: drill - Mining Method: underground #### Location - Location: Roskear 3 North - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong grade tin intercept from a new exploration drillhole, extending mineralization in the Roskear 3 North structure, but very narrow and reported as apparent width only with no QA/QC disclosure. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Negative factor: Apparent Width Only - Negative factor: No QA/QC Disclosure Evidence · text > 0.30 metres at 2.20% Sn in Roskear 3 North #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### SDD26\_001A [Link to this fact](https://atlas-staging.minestarters.com/news/unaudited-interim-results-for-the-six-months-ended-30-june-2026--db005211-da53-464a-b308-2041446a6e9f#fact-drill-facts-2) South Crofty · tin #### Identity - Hole ID: SDD26\_001A - Project: South Crofty - Commodity: tin - Region: cornwall, united kingdom - Reported Region: cornwall, united kingdom - Ticker: TIN #### Geometry - Grade: 0.43 - Grade Unit: % - Intercept: 12.41 m #### Classification - Program: exploration - Sample Type: drill - Mining Method: underground #### Location - Location: Roskear Numbered Zone - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A significant width tin intercept with a moderate grade from a new exploration drillhole, extending mineralization in the Roskear Numbered Zone, but reported as apparent width only with no QA/QC disclosure. - Positive factor: Step-Out Extension - Negative factor: Apparent Width Only - Negative factor: No QA/QC Disclosure Evidence · text > 12.41 metre zone grading 0.43% Sn in the Roskear Numbered Zone #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### SDD26\_001A [Link to this fact](https://atlas-staging.minestarters.com/news/unaudited-interim-results-for-the-six-months-ended-30-june-2026--db005211-da53-464a-b308-2041446a6e9f#fact-drill-facts-3) South Crofty · tin #### Identity - Hole ID: SDD26\_001A - Project: South Crofty - Commodity: tin - Region: cornwall, united kingdom - Reported Region: cornwall, united kingdom - Ticker: TIN #### Geometry - Grade: 1.32 - Grade Unit: % - Intercept: 1.9 m #### Classification - Program: exploration - Sample Type: drill - Mining Method: underground #### Location - Location: Roskear Numbered Zone - Loc. Source: document #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A strong grade sub-interval within a broader tin intercept, contributing to the extension of mineralization in the Roskear Numbered Zone, but reported as apparent width only with no QA/QC disclosure. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Negative factor: Apparent Width Only - Negative factor: No QA/QC Disclosure Evidence · text > including 1.90 metres at 1.32% Sn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.