Cornish Metals offloads Canadian royalty interests

Cornish Metals announced the successful sale of its royalty interests on the Mactung and Cantung tungsten projects in Northern Canada on Monday, to Elemental Altus Royalties.

The AIM-traded firm said the total cash consideration for the sale was $4.5m, with the company having already received an initial payment of $3m.

It said the remaining balance of $1.5m was expected by 1 August.

Cornish Metals said it was continuing to focus on advancing its wholly-owned South Crofty tin project in Cornwall.

At 1109 BST, shares in Cornish Metals were up 0.36% at 5.52p.

Reporting by Josh White for Sharecast.com.