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143%
Raised
£1,430,640
Investors
1222
Target
£1,000,000
Equity
6.68%
Pre-money valuation
£20,000,000

Cornish Lithium is exploring the opportunity to create a new, environmentally-responsible, UK-based lithium extraction industry and has acquired exploration rights for lithium and other ‘battery metals’ across a large area of Cornwall. Investment will take the Company to the next exploration stage.

  • Aiming to create a new high-tech UK-based lithium extraction industry
  • Lithium demand is rapidly rising due to electric vehicle revolution
  • Acquired exploration rights over a large area of Cornwall
  • Exploring for lithium using modern digital exploration techniques

Idea

Cornish Lithium - Crowdcube video

Cornish Lithium aims to create a new, environmentally-responsible, lithium extraction industry in the UK. Rights to explore for lithium and other battery metals across Cornwall have been acquired, and the team is re-evaluating a historic mining region where lithium was first observed in 1864.

As the world decarbonises with renewable energy and electric cars, domestic supply of battery metals is key. Demand for lithium is rapidly rising as electric vehicles become mainstream. Recently Volkswagen commented that lithium is the ‘irreplaceable element of the electric future’.

- Founded in 2016: Recognised a strategic opportunity for lithium production in the UK

- Company ultimately aims to extract lithium and utilise contained energy from lithium-enriched geothermal waters

- Highly skilled technical team based in Cornwall

- IP lies in data-driven digital geological modelling: an innovative approach to exploration

- Company value lies in exploiting the digital data already assembled over its large area of exploration rights

- Extensive mineral rights agreements give Cornish Lithium a first-mover advantage in Cornwall

- Growing recognition of the importance of domestic lithium supply in the UK

Funds raised will be used to continue exploration over the next 12 months, including sample collection, in order to better understand battery metal potential of Cornwall.

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Risk warning

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Cornish Lithium has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.