There are just a few days left for investors to get aboard Cornish Lithium’s crowdfunding campaign.
More than 1,000 investors having already seized the opportunity to invest in Cornish Lithium’s exploration for battery metal in the county via the Crowdcube campaign – exceeding its £1 million target by £300k in just 25 days.
Cornish Lithium is using digital technology as part of its exploration programme to evaluate the potential of extracting lithium from the geothermal waters that circulate deep beneath mine workings.
Lithium is fast-becoming a vital commodity in the 21st century, as lithium-ion batteries are a crucial component of electric vehicles and mobile phones.
Although Cornish Lithium is part of the Lithium for the UK (Li4UK) consortium that has recently been granted funding by the Government, the company requires further funding in order to embark upon its next phase of exploration in Cornwall.
CEO, Jeremy Wrathall, said: “Having gained a comprehensive understanding of Cornish geology and secured an extensive portfolio of agreements with mineral rights holders to explore for lithium and other battery metals in Cornwall, we are ideally placed to assess the economic viability of lithium extraction in the county and are poised to drill test boreholes in the Gwennap area this autumn.
“We are therefore delighted that so many investors have showed their support by pledging £1.3 million so far and with a minimum of investment of £10, we hope that other local investors will join us in this last week of our crowdfund and play a part in what could become a significant new mineral extraction industry for Cornwall.
“There are risks associated with any investment and at this relatively early stage, there is no guarantee of success, but we strongly believe in the potential of lithium extraction in the county and look forward to welcoming new investors to join us on the exciting journey ahead.”
The Crowdcube campaign ends this Friday (Aug 9).